Nigeria vs Paraguay: Economic Indicators Comparison

Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while Paraguay ranked 94th with $40.5B. By GDP 5-years average growth and GDP per capita, Nigeria and Paraguay ranked 132nd vs 50th and 149th vs 104th, respectively.

Gross Domestic Product & Income

StatNigeriaParaguay
GDP$397.3B$40.5B
GDP growth, 1 year1.9%3.7%
GDP growth, 5-years average2%4.2%
Population190.9M6.8M
GDP per capita$2k$5.8k
GDP per capita growth-0.67%2.35%
Purchasing Power Parity conversion factor110.032453.78
Price level ratio of PPP conversion factor GDP to market exchange rate0.340.43
GDP per capita, PPP adjusted$6k$13k
GNI, Atlas method$384.8B$39.4B
GNI per capita$2k$5.7k
GNI, PPP adjusted$1.1T$91.9B
GNI per capita, PPP adjusted$5.7k$13k

Financial system and Human development

StatNigeriaParaguay
Income Tax Rate24%10%
Corporate Tax Rate30%10%
Inflation, consumer prices12.1%4%
Inflation, GDP deflator10.2%2.1%
Unemployment6%4.7%
Economic Freedom Index57.263
Personal Freedom Index6.017.3
Human Freedom Index6.17.02
Property Rights Index38.144.7
Judical Effectiveness Index32.226.4
Business Freedom Index54.760.9
Fiscal Health Index64.198
Labor Freedom Index8429
Investment Freedom Index4575
Financial Freedom Index4060
Trade Freedom Index62.475.4
Monetary Freedom Index61.772.5
Government Spending Index96.288.6
Tax Burden Index85.196.1
Government Integrity Index22.329.6
Corruption Perceptions Index2729
Life expectancy at birth, years5474
Suicide mortality rate, per 100,000 people9.59.5
Mortality caused by road traffic injury, per 100,000 people21.422.7
Intentional homicides, per 100,000 people9.99.3
International tourism, number of arrivals5.3M1.2M

Government debt & reserves

StatNigeriaParaguay
Central government debt, % of GDP28.4%21.6%
External debt stocks, % of GNI12.4%39.9%
External debt stocks$47B$15.8B
Short-term debt, % of total reserves0%60%
Total debt service, % of exports and primary income8.3%15.7%
Adjusted net savings including particulate emission damage, % of GNI1.4%14.5%
Gross savings, % of GDP19.3%23.2%
Gross capital formation, % of GDP19.8%22.4%
Total reserves including gold$42.8B$7.7B
Foreign direct investment net inflows$2B$386.9M

Exports, imports and economic structure

StatNigeriaParaguay
Exports of goods and services, % of GDP15.5%36%
Imports of goods and services, % of GDP17.5%34.4%
Current account balance (balance of payments)$5.3B$8.6M
Revenue excluding grants, % of GDPN/A17.4%
Grants excluding technical cooperation, BoP$2B$64.1M
Personal remittances received$24.3B$682.9M
Industry including construction value added, % of GDP25.7%33.9%
Agriculture, forestry and fishing value added, % of GDP21.2%10.4%
Charges for the use of intellectual property, payments BoP$252.8M$18.5M
Charges for the use of intellectual property, receipts BoP$7.8M$114.1M
Expense, % of GDPN/A15.6%
Government Expenditure, % of GDP11.2%19.5%

Compare with countries close by GDP per capita

Nigeria vs

CountryGDP
per capita
Population
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M
Honduras
$2.5k
9.27M
Ghana
$2.2k
26.9M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
16.5M
Solomon Islands
$2.1k
611k
East Timor
$2k
1.3M
Syria
$2k
18.3M
Nicaragua
$2k
6.22M
India
$2k
1.33B
Sao Tome and Principe
$2k
204k
Ivory Coast
$1.7k
24.3M
Kenya
$1.7k
48.5M
North Korea
$1.7k
25.5M
Bangladesh
$1.7k
165M
Kiribati
$1.6k
116k
Zambia
$1.5k
17.1M
Cameroon
$1.5k
24.1M
Uzbekistan
$1.5k
32.4M
Senegal
$1.5k
15.9M
Cambodia
$1.5k
16M
Pakistan
$1.5k
197M
Comoros
$1.4k
824k
Myanmar
$1.3k
53.4M

Paraguay vs

CountryGDP
per capita
Population
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M