Nigeria vs the Philippines: Economic Indicators Comparison

Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while the Philippines ranked 40th with $330.9B. By GDP 5-years average growth and GDP per capita, Nigeria and the Philippines ranked 132nd vs 21st and 149th vs 134th, respectively.

Gross Domestic Product & Income

StatNigeriaPhilippines
GDP$397.3B$330.9B
GDP growth, 1 year1.9%6.2%
GDP growth, 5-years average2%6.4%
Population190.9M104.9M
GDP per capita$2k$3.1k
GDP per capita growth-0.67%4.77%
Purchasing Power Parity conversion factor110.0318.25
Price level ratio of PPP conversion factor GDP to market exchange rate0.340.35
GDP per capita, PPP adjusted$6k$8.9k
GNI, Atlas method$384.8B$408.8B
GNI per capita$2k$3.8k
GNI, PPP adjusted$1.1T$1.1T
GNI per capita, PPP adjusted$5.7k$11k

Financial system and Human development

StatNigeriaPhilippines
Income Tax Rate24%35%
Corporate Tax Rate30%30%
Inflation, consumer prices12.1%5.2%
Inflation, GDP deflator10.2%3.8%
Unemployment6%2.5%
Economic Freedom Index57.264.5
Personal Freedom Index6.017.06
Human Freedom Index6.16.92
Property Rights Index38.154.6
Judical Effectiveness Index32.234.2
Business Freedom Index54.759.5
Fiscal Health Index64.196.3
Labor Freedom Index8457.4
Investment Freedom Index4560
Financial Freedom Index4060
Trade Freedom Index62.481.6
Monetary Freedom Index61.766.9
Government Spending Index96.287.9
Tax Burden Index85.176.7
Government Integrity Index22.338.7
Corruption Perceptions Index2736
Life expectancy at birth, years5471
Suicide mortality rate, per 100,000 people9.53.2
Mortality caused by road traffic injury, per 100,000 people21.412.3
Intentional homicides, per 100,000 people9.98.4
International tourism, number of arrivals5.3M7.2M

Government debt & reserves

StatNigeriaPhilippines
Central government debt, % of GDP28.4%39.6%
External debt stocks, % of GNI12.4%19.9%
External debt stocks$47B$78.8B
Short-term debt, % of total reserves0%20.3%
Total debt service, % of exports and primary income8.3%8.7%
Adjusted net savings including particulate emission damage, % of GNI1.4%28.5%
Gross savings, % of GDP19.3%42.4%
Gross capital formation, % of GDP19.8%26.9%
Total reserves including gold$42.8B$79.2B
Foreign direct investment net inflows$2B$9.8B

Exports, imports and economic structure

StatNigeriaPhilippines
Exports of goods and services, % of GDP15.5%31.7%
Imports of goods and services, % of GDP17.5%44.4%
Current account balance (balance of payments)$5.3B-$8.7B
Revenue excluding grants, % of GDPN/A16.3%
Grants excluding technical cooperation, BoP$2B$436.5M
Personal remittances received$24.3B$33.8B
Industry including construction value added, % of GDP25.7%30.7%
Agriculture, forestry and fishing value added, % of GDP21.2%9.3%
Charges for the use of intellectual property, payments BoP$252.8M$917M
Charges for the use of intellectual property, receipts BoP$7.8M$44.1M
Expense, % of GDPN/A14.9%
Government Expenditure, % of GDP11.2%20.1%

Compare with countries close by GDP per capita

Nigeria vs

CountryGDP
per capita
Population
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
Lesotho
$1.3k
2.23M

Philippines vs

CountryGDP
per capita
Population
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k
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