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Economy of Nepal vs Nigeria compared: GDP & Debt

Updated on by Georank team

Nepal has a GDP of $42.9B compared to $252B for Nigeria, ranking 101/197 and 54/197 by economy size, respectively.

Nepal has $20.7B in government debt (48.3% of GDP), compared to $99.2B (39.3% of GDP) in Nigeria.

Nepal vs Nigeria GDP by year

Nepal
Nigeria
1x
Year GDP, current $
Nepal Nigeria
2024 $42,914,268,287 $252,261,880,141
2023 $41,047,772,331 $487,387,801,881
2022 $41,182,939,601 $646,950,257,578
2021 $36,924,841,394 $609,147,716,973
2020 $33,433,659,301 $598,586,817,819
2019 $34,186,180,699 $668,219,992,691
2018 $33,111,525,237 $421,739,251,509
2017 $28,971,588,940 $375,745,731,053
2016 $24,524,109,484 $404,649,125,252
2015 $24,360,801,287 $493,026,682,801
2014 $22,731,612,922 $574,183,763,412
2013 $22,162,204,925 $520,117,180,314
2012 $21,703,100,877 $463,971,018,239
2011 $21,573,872,421 $414,466,676,831
2010 $16,002,656,434 $366,990,417,129
2009 $12,854,985,464 $295,008,835,381
2008 $12,545,438,605 $339,476,276,258
2007 $10,325,618,017 $278,260,846,800
2006 $9,043,715,356 $238,454,997,161
2005 $8,130,258,378 $175,670,569,969
2004 $7,273,938,315 $135,764,731,646
2003 $6,330,473,097 $104,738,954,264
2002 $6,050,875,807 $95,054,059,303
2001 $6,007,055,042 $73,557,840,064
2000 $5,494,252,208 $69,171,451,627
1999 $5,033,642,384 $59,145,077,039
1998 $4,856,255,044 $218,416,200,673
1997 $4,918,691,917 $200,850,397,618
1996 $4,521,580,381 $185,730,236,700
1995 $4,401,104,418 $140,919,776,986
1994 $4,066,775,510 $80,399,613,064
1993 $3,660,041,667 $56,721,051,402
1992 $3,401,211,581 $52,058,181,854
1991 $3,921,476,085 $59,526,833,412
1990 $3,627,560,239 $54,035,795,388
1989 $3,525,225,787 $44,003,061,108
1988 $3,487,009,748 $49,648,470,440
1987 $2,957,255,380 $52,676,041,931
1986 $2,850,782,044 $54,805,852,581
1985 $2,619,913,956 $73,745,821,158
1984 $2,581,207,388 $73,484,359,521
1983 $2,447,174,803 $97,094,911,792
1982 $2,395,423,742 $142,769,363,314
1981 $2,275,583,317 $164,475,209,516
1980 $1,945,916,583 $64,201,788,123
1979 $1,851,250,008 $47,259,911,894
1978 $1,604,162,497 $36,527,862,209
1977 $1,382,400,000 $36,035,407,725
1976 $1,452,788,985 $36,308,883,249
1975 $1,575,789,254 $27,778,934,625
1974 $1,217,953,547 $24,846,641,318
1973 $972,101,725 $15,162,871,287
1972 $1,024,098,400 $12,274,416,018
1971 $882,765,472 $9,181,769,912
1970 $865,975,309 $12,546,094,982
1969 $788,641,965 $6,634,317,346
1968 $772,231,387 $5,200,997,920
1967 $841,974,025 $5,203,237,919
1966 $906,811,944 $6,366,917,453
1965 $735,267,082 $5,874,537,650
1964 $496,098,775 $5,552,931,319
1963 $496,947,904 $5,165,590,254
1962 $574,091,101 $4,909,399,176
1961 $531,959,562 $4,467,287,893
1960 $508,334,414 $4,196,174,502

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/nepal/nigeria | CC BY

GDP per capita in Nepal vs Nigeria by year

Nepal
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nepal Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,447 $5,737 $1,084 $9,087
2023 $1,382 $5,395 $2,139 $8,705
2022 $1,386 $5,103 $2,899 $8,305
2021 $1,253 $4,546 $2,787 $7,588
2020 $1,154 $4,236 $2,797 $7,415
2019 $1,203 $4,261 $3,190 $7,551
2018 $1,179 $3,956 $2,058 $7,158
2017 $1,034 $3,605 $1,876 $7,037
2016 $877 $2,976 $2,070 $7,072
2015 $876 $2,957 $2,586 $7,308
2014 $821 $2,901 $3,089 $7,396
2013 $803 $2,658 $2,873 $7,004
2012 $788 $2,466 $2,633 $6,671
2011 $786 $2,248 $2,418 $6,585
2010 $585 $2,139 $2,202 $6,301
2009 $473 $2,029 $1,820 $5,927
2008 $465 $1,942 $2,154 $5,607
2007 $385 $1,809 $1,816 $5,298
2006 $340 $1,718 $1,600 $4,975
2005 $309 $1,628 $1,211 $4,678
2004 $279.6 $1,542 $962 $4,381
2003 $246.4 $1,453 $763 $4,015
2002 $238.9 $1,390 $712 $3,770
2001 $240.8 $1,388 $566 $3,309
2000 $223.8 $1,317 $547 $3,139
1999 $208.6 $1,234 $481 $3,002
1998 $205.1 $1,187 $1,822 $3,022
1997 $211.8 $1,162 $1,720 $2,990
1996 $198.8 $1,110 $1,633 $2,931
1995 $197.8 $1,058 $1,272 $2,835
1994 $187.3 $1,026 $745 $2,853
1993 $172.8 $952 $540 $2,921
1992 $165 $920 $509 $2,991
1991 $195.7 $889 $597 $2,870
1990 $185.8 $830 $556 $2,840
1989 $185 - $465 -
1988 $187.1 - $540 -
1987 $162 - $588 -
1986 $159.5 - $628 -
1985 $149.9 - $869 -
1984 $151.1 - $890 -
1983 $146.6 - $1,207 -
1982 $147 - $1,822 -
1981 $142.9 - $2,162 -
1980 $125.1 - $870 -
1979 $121.9 - $661 -
1978 $108.1 - $527 -
1977 $95.3 - $536 -
1976 $102.5 - $556 -
1975 $113.6 - $438 -
1974 $89.8 - $403 -
1973 $73.2 - $252.4 -
1972 $78.8 - $209.5 -
1971 $69.5 - $160.5 -
1970 $69.6 - $224.5 -
1969 $64.8 - $121.4 -
1968 $64.9 - $97.3 -
1967 $72.3 - $99.5 -
1966 $79.5 - $124.4 -
1965 $65.8 - $117.3 -
1964 $45.3 - $113.3 -
1963 $46.3 - $107.7 -
1962 $54.6 - $104.5 -
1961 $51.6 - $97.1 -
1960 $50.2 - $93.1 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/nepal/nigeria | CC BY

Nepal's GDP per capita is $1,447, ranking 164/197, compared to $1,084 in Nigeria, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), Nepal ranks 155th at $5,737, while Nigeria ranks 136th at $9,087.

Economic indicators

Nepal Nigeria
Gross domestic product
$42.9B
2024
$252B
2024
GDP rank
101/197
2024
54/197
2024
GDP growth
3.67%
2023-2024
4.06%
2023-2024
GDP per capita
$1,447
2024
$1,084
2024
GDP per capita rank
164/197
2024
174/197
2024
GDP per capita, PPP
$5,737
2024
$9,087
2024
GDP per capita PPP rank
155/197
2024
136/197
2024
Government debt
$20.7B
2024
$99.2B
2024
Debt-to-GDP ratio
48.3%
2024
39.3%
2024
Government debt per person
$700
2024
$426
2024
Government debt per person rank
154/185
2024
170/185
2024
Average annual personal income after taxes
$2,170
2026
$1,104
2026
Market capitalization of domestic companies n/a
$54.4B
2024
Number of billionaires
2
2025
4
2025
Income share by richest 10%
24.2%
2022
26.3%
2022
Income share by poorest 10%
3.7%
2022
3%
2022
Government expenditure, % of GDP
22.1%
2024
12.3%
2024
Consumer prices inflation
4.69%
2023-2024
33.2%
2023-2024
Central bank interest rate n/a
27%
2025
Unemployment rate
10.7%
2017
3.45%
2024
Population
29596762
243824469

Spending and national debt comparison by year

Nepal
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Nepal Nigeria
Government spending Government debt Government spending Government debt
2024 22.1% 48.3% 12.3% 39.3%
2023 25.1% 47% 10.4% 36.3%
2022 26.1% 42.7% 10.6% 29.8%
2021 27.2% 43.3% 9.09% 26.6%
2020 28.5% 43.3% 8.73% 25.7%
2019 27.1% 34% 8.87% 21.4%
2018 28% 31.1% 9.1% 20.4%
2017 23.6% 25% 8.51% 18%
2016 19% 25% 6.93% 17.4%
2015 17.7% 25.7% 7.85% 14.9%
2014 16.6% 27.6% 9.49% 12.9%
2013 15.5% 31.9% 10% 13%
2012 16.8% 34.5% 10.5% 12.5%
2011 16.3% 32.4% 12.3% 12.4%
2010 16.5% 35.4% 11.8% 6.67%
2009 17% 39.5% 11% 6.12%
2008 13.4% 36.8% 10.2% 5.17%
2007 13.1% 37.9% 12.9% 5.76%
2006 11.2% 42.9% 8.75% 6.68%
2005 12% 45.1% 12.6% 13.4%
2004 11.8% 51.3% 13% 25.2%
2003 12% 53% 16.5% 29.9%
2002 13% 51.8% 13.8% 30.7%
2001 12.9% 50.8% 21.9% 37.7%
2000 11.4% 50.8% 17.6% 40.9%
1999 - - 14.9% 46.1%
1998 - - 11.2% 15.8%
1997 - - 9.68% 17.1%
1996 - - 7.87% 17.9%
1995 - - 8.87% 24.2%
1994 - - 12.1% 39.7%
1993 - - 20% 50.4%
1992 - - 15.9% 49.8%
1991 - - 13.6% 53.2%
1990 - - 14.2% 50.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/nepal/nigeria | CC BY

In 2024, Nepal's government spending was $9.5B, accounting for 22.1% of its GDP, while Nigeria spent $31.1B, or 12.3% of GDP.

Debt-to-GDP ratio is 48.3% in Nepal and 39.3% in Nigeria, ranking 112/185 and 135/185, respectively.

Government deficit by year

Deficit/surplus
Nepal

Nigeria
1x
Year Deficit/surplus, % of GDP
Nepal Nigeria
2024 -2.76% -1.57%
2023 -5.81% -3.12%
2022 -3.12% -4%
2021 -3.98% -3.97%
2020 -7.47% -4.03%
2019 -4.27% -3.31%
2018 -5.83% -3.06%
2017 -2.69% -3.85%
2016 1.2% -3.3%
2015 0.46% -2.7%
2014 1.36% -1.72%
2013 1.57% -1.89%
2012 -1.18% -0.09%
2011 -0.72% 0.31%
2010 -0.67% -2.96%
2009 -2.24% -3.78%
2008 -0.29% 4.05%
2007 -0.67% -0.79%
2006 0.24% 6.22%
2005 0.24% 3.49%
2004 -0.14% 3.9%
2003 -0.34% -1.56%
2002 -2.46% 0.95%
2001 -2.35% -2.29%
2000 -1.48% 2.89%
1999 - -1.39%
1998 - -3.47%
1997 - 1.14%
1996 - 3.37%
1995 - 2.52%
1994 - -2.96%
1993 - -6.07%
1992 - 0.94%
1991 - -1.18%
1990 - -0.48%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/nepal/nigeria | CC BY

In 2024, Nepal's government deficit, the difference between spending and revenue, was $1.19B, equivalent to 2.76% of GDP. This compares to Nigeria's deficit of $3.95B, or 1.57% of GDP.

Over the past 25 years, Nepal recorded a fiscal deficit in 19 of those years, while Nigeria ran a deficit in 18 years. On average, Nepal posted an annual deficit equal to 1.74% of GDP, compared to deficit of 1.05% of GDP for Nigeria.

Inflation comparison by year

Inflation
Nepal

Nigeria
1x
Year Consumer prices inflation
Nepal Nigeria
2024 4.69% 33.2%
2023 7.12% 24.7%
2022 7.67% 18.8%
2021 4.13% 17%
2020 5.06% 13.2%
2019 5.57% 11.4%
2018 4.41% 12.1%
2017 2.78% 16.5%
2016 8.79% 15.7%
2015 7.87% 9.01%
2014 8.36% 8.05%
2013 9.04% 8.5%
2012 9.46% 12.2%
2011 9.23% 10.8%
2010 9.33% 13.7%
2009 11.1% 12.5%
2008 9.91% 11.6%
2007 2.27% 5.39%
2006 6.92% 8.23%
2005 6.84% 17.9%
2004 2.84% 15%
2003 5.71% 14%
2002 3.03% 12.9%
2001 2.69% 18.9%
2000 2.48% 6.93%
1999 7.45% 6.62%
1998 11.2% 10%
1997 4.01% 8.53%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/nepal/nigeria | CC BY

Over the past 28 years, Nepal has recorded an average annual inflation rate of 6.43%, compared with 13.3% in Nigeria. In 2024, inflation was 4.69% in Nepal and 33.2% in Nigeria.

Top exports between countries

Nepal
Export category Export value
Machinery & equipment $38K
Raw agricultural goods $25K
Nigeria
Export category Export value
Raw agricultural goods $8.41M

Balance of trade

Nepal Nigeria
Current account balance
$1.68B
2024
$17.2B
2024
Current account balance ranking
50/190
2024
20/190
2024
Current account balance, % of GDP
+3.91%
2024
+6.82%
2024
Goods imports
$12.1B
2024
$39.8B
2024
Goods exports
$1.54B
2024
$53B
2024
Service imports
$2.27B
2024
$17.9B
2024
Service exports
$1.9B
2024
$4.57B
2024
Imports of goods and services, % of GDP
32.9%
2024
16.9%
1960
Exports of goods and services, % of GDP
7.62%
2024
9.24%
1960

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Nepal Nigeria
Economic freedom 52.9 54.8
Economic freedom ranking 144/197 132/197
Property rights 38.8 29.7
Government integrity 38.9 23.5
Judicial effectiveness 42.9 34.4
Tax burden 84.3 84.6
Government spending 82.1 96.3
Fiscal health 71 83.5
Business freedom 60.8 50.3
Labor freedom 48.2 75.4
Monetary freedom 69.4 56.1
Trade freedom 58.6 64.4
Investment freedom 10 30
Financial freedom 30 30

Economic freedom comparison by year

Nepal
Nigeria
1x
Year Economic freedom index
Nepal Nigeria
2026 52.9 54.8
2025 52.5 53.4
2024 52.1 53.1
2023 51.4 53.9
2022 49.7 54.4
2021 50.7 58.7
2020 54.2 57.2
2019 53.8 57.3
2018 54.1 58.5
2017 55.1 57.1
2016 50.9 57.5
2015 51.3 55.6
2014 50.1 54.3
2013 50.4 55.1
2012 50.2 56.3
2011 50.1 56.7
2010 52.7 56.8
2009 53.2 55.1
2008 54.1 55.1
2007 54.4 55.6
2006 53.7 48.7
2005 51.4 48.4
2004 51.2 49.2
2003 51.5 49.5
2002 52.3 50.9
2001 51.6 49.6
2000 51.3 53.1
1999 53.1 55.7
1998 53.5 52.3
1997 53.6 52.8
1996 50.3 47.4
1995 - 47.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/nepal/nigeria | CC BY

The Economic Freedom Index for Nepal is 52.9, ranking 144/197, compared to 54.8 for Nigeria, ranking 132/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nepal Nigeria
Services, % of GDP
55.2%
2024
53.7%
2024
Industry, % of GDP
11.4%
2024
18.2%
2024
Agriculture, forestry, and fishing, % of GDP
21.9%
2024
25.9%
2024
GNI, Atlas method
$43.7B
2024
$396B
2024
GNI per capita, PPP
$5,830
2024
$8,850
2024
Total reserves including gold
$12.5B
2023
$38.6B
2024
Total reserves ranking
74/177
2023
51/177
2024
Net foreign direct investment
-$56.9M
2024
-$672M
2024
Net inflows of foreign direct investment
$56.9M
2024
$1.08B
2024
Net outflows of foreign direct investment
$0
2024
$408M
2024
Servicing debt to the IMF, % of GNI
1.23%
2024
5.48%
2024
Poverty at national poverty lines
20.3%
2022
56.2%
2023
Gross capital formation, % of GDP
30.4%
2024
n/a

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/nepal/nigeria | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2023, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.