Nigeria vs Saudi Arabia: Economic Indicators Comparison
Saudi Arabia with a GDP of $786.5B ranked the 18th largest economy in the world, while Nigeria ranked 32nd with $397.3B. By GDP 5-years average growth and GDP per capita, Saudi Arabia and Nigeria ranked 124th vs 132nd and 41st vs 149th, respectively.
Gross Domestic Product & Income
| Stat |  Nigeria |  Saudi Arabia |
|---|---|---|
| GDP | $397.3B | $786.5B |
| GDP growth, 1 year | 1.9% | 2.2% |
| GDP growth, 5-years average | 2% | 2.2% |
| Population | 190.9M | 33M |
| GDP per capita | $2k | $23k |
| GDP per capita growth | -0.67% | 0.61% |
| Purchasing Power Parity conversion factor | 110.03 | 1.58 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.34 | 0.42 |
| GDP per capita, PPP adjusted | $6k | $56k |
| GNI, Atlas method | $384.8B | $727.8B |
| GNI per capita | $2k | $22k |
| GNI, PPP adjusted | $1.1T | $1.9T |
| GNI per capita, PPP adjusted | $5.7k | $56k |
Financial system and Human development
| Stat | Nigeria | Saudi Arabia |
|---|---|---|
| Income Tax Rate | 24% | 2.5% |
| Corporate Tax Rate | 30% | 2.5% |
| Inflation, consumer prices | 12.1% | 2.5% |
| Inflation, GDP deflator | 10.2% | 11.5% |
| Unemployment | 6% | 5.9% |
| Economic Freedom Index | 57.2 | 62.4 |
| Personal Freedom Index | 6.01 | 4.65 |
| Human Freedom Index | 6.1 | 5.66 |
| Property Rights Index | 38.1 | 64.6 |
| Judical Effectiveness Index | 32.2 | 72.3 |
| Business Freedom Index | 54.7 | 66.6 |
| Fiscal Health Index | 64.1 | 19.3 |
| Labor Freedom Index | 84 | 63.3 |
| Investment Freedom Index | 45 | 45 |
| Financial Freedom Index | 40 | 50 |
| Trade Freedom Index | 62.4 | 75.4 |
| Monetary Freedom Index | 61.7 | 81 |
| Government Spending Index | 96.2 | 61.8 |
| Tax Burden Index | 85.1 | 99.8 |
| Government Integrity Index | 22.3 | 49.6 |
| Corruption Perceptions Index | 27 | 49 |
| Life expectancy at birth, years | 54 | 74.9 |
| Suicide mortality rate, per 100,000 people | 9.5 | 3.2 |
| Mortality caused by road traffic injury, per 100,000 people | 21.4 | 28.8 |
| Intentional homicides, per 100,000 people | 9.9 | 1.3 |
| International tourism, number of arrivals | 5.3M | 15.3M |
Government debt & reserves
| Stat | Nigeria | Saudi Arabia |
|---|---|---|
| Central government debt, % of GDP | 28.4% | 19.1% |
| External debt stocks, % of GNI | 12.4% | N/A |
| External debt stocks | $47B | N/A |
| Short-term debt, % of total reserves | 0% | N/A |
| Total debt service, % of exports and primary income | 8.3% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 1.4% | 13.4% |
| Gross savings, % of GDP | 19.3% | 33.2% |
| Gross capital formation, % of GDP | 19.8% | 24.2% |
| Total reserves including gold | $42.8B | $509.5B |
| Foreign direct investment net inflows | $2B | $4.2B |
Exports, imports and economic structure
| Stat | Nigeria | Saudi Arabia |
|---|---|---|
| Exports of goods and services, % of GDP | 15.5% | 39.9% |
| Imports of goods and services, % of GDP | 17.5% | 26.7% |
| Current account balance (balance of payments) | $5.3B | $70.6B |
| Revenue excluding grants, % of GDP | N/A | 26.8% |
| Grants excluding technical cooperation, BoP | $2B | $290k |
| Personal remittances received | $24.3B | $334.9M |
| Industry including construction value added, % of GDP | 25.7% | 49.5% |
| Agriculture, forestry and fishing value added, % of GDP | 21.2% | 2.2% |
| Charges for the use of intellectual property, payments BoP | $252.8M | N/A |
| Charges for the use of intellectual property, receipts BoP | $7.8M | N/A |
| Expense, % of GDP | N/A | 28% |
| Government Expenditure, % of GDP | 11.2% | 35.7% |
