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Economy of Nigeria vs Slovenia compared: GDP & Debt

Updated on by Georank team

Nigeria has a GDP of $252B compared to $73B for Slovenia, ranking 54/197 and 86/197 by economy size, respectively.

Nigeria has $99.2B in government debt (39.3% of GDP), compared to $48.6B (66.6% of GDP) in Slovenia.

Nigeria vs Slovenia GDP by year

Nigeria
Slovenia
1x
Year GDP, current $
Nigeria Slovenia
2024 $252,261,880,141 $72,972,015,197
2023 $487,387,801,881 $69,255,264,238
2022 $646,950,257,578 $59,899,117,741
2021 $609,147,716,973 $61,540,813,362
2020 $598,586,817,819 $53,384,760,135
2019 $668,219,992,691 $53,909,922,736
2018 $421,739,251,509 $53,689,067,640
2017 $375,745,731,053 $48,153,200,135
2016 $404,649,125,252 $44,290,685,824
2015 $493,026,682,801 $42,709,468,275
2014 $574,183,763,412 $49,514,466,380
2013 $520,117,180,314 $47,867,056,859
2012 $463,971,018,239 $46,167,053,954
2011 $414,466,676,831 $51,199,194,599
2010 $366,990,417,129 $47,793,117,241
2009 $295,008,835,381 $49,975,540,955
2008 $339,476,276,258 $55,509,332,322
2007 $278,260,846,800 $47,880,266,543
2006 $238,454,997,161 $39,260,368,837
2005 $175,670,569,969 $35,947,936,824
2004 $135,764,731,646 $34,156,553,313
2003 $104,738,954,264 $29,360,575,032
2002 $95,054,059,303 $23,214,593,516
2001 $73,557,840,064 $20,668,868,707
2000 $69,171,451,627 $20,159,190,702
1999 $59,145,077,039 $22,609,669,084
1998 $218,416,200,673 $22,058,635,314
1997 $200,850,397,618 $20,726,878,752
1996 $185,730,236,700 $21,470,699,363
1995 $140,919,776,986 $21,367,422,159
1994 $80,399,613,064 $16,400,767,070
1993 $56,721,051,402 $14,449,298,372
1992 $52,058,181,854 $14,277,261,541
1991 $59,526,833,412 $14,454,495,059
1990 $54,035,795,388 $19,832,029,087
1989 $44,003,061,108 -
1988 $49,648,470,440 -
1987 $52,676,041,931 -
1986 $54,805,852,581 -
1985 $73,745,821,158 -
1984 $73,484,359,521 -
1983 $97,094,911,792 -
1982 $142,769,363,314 -
1981 $164,475,209,516 -
1980 $64,201,788,123 -
1979 $47,259,911,894 -
1978 $36,527,862,209 -
1977 $36,035,407,725 -
1976 $36,308,883,249 -
1975 $27,778,934,625 -
1974 $24,846,641,318 -
1973 $15,162,871,287 -
1972 $12,274,416,018 -
1971 $9,181,769,912 -
1970 $12,546,094,982 -
1969 $6,634,317,346 -
1968 $5,200,997,920 -
1967 $5,203,237,919 -
1966 $6,366,917,453 -
1965 $5,874,537,650 -
1964 $5,552,931,319 -
1963 $5,165,590,254 -
1962 $4,909,399,176 -
1961 $4,467,287,893 -
1960 $4,196,174,502 -

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

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

GDP per capita in Nigeria vs Slovenia by year

Nigeria
GDP per capita

GDP per capita, PPP
Slovenia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nigeria Slovenia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,084 $9,087 $34,301 $57,186
2023 $2,139 $8,705 $32,660 $56,064
2022 $2,899 $8,305 $28,360 $52,347
2021 $2,787 $7,588 $29,193 $45,914
2020 $2,797 $7,415 $25,392 $41,767
2019 $3,190 $7,551 $25,814 $42,373
2018 $2,058 $7,158 $25,888 $38,620
2017 $1,876 $7,037 $23,303 $36,180
2016 $2,070 $7,072 $21,448 $33,575
2015 $2,586 $7,308 $20,697 $31,336
2014 $3,089 $7,396 $24,013 $30,572
2013 $2,873 $7,004 $23,237 $29,634
2012 $2,633 $6,671 $22,442 $28,787
2011 $2,418 $6,585 $24,941 $28,716
2010 $2,202 $6,301 $23,330 $27,579
2009 $1,820 $5,927 $24,502 $27,229
2008 $2,154 $5,607 $27,462 $29,461
2007 $1,816 $5,298 $23,725 $27,468
2006 $1,600 $4,975 $19,563 $25,571
2005 $1,211 $4,678 $17,970 $23,682
2004 $962 $4,381 $17,104 $22,588
2003 $763 $4,015 $14,712 $20,916
2002 $712 $3,770 $11,639 $20,004
2001 $566 $3,309 $10,376 $18,763
2000 $547 $3,139 $10,136 $17,892
1999 $481 $3,002 $11,401 $17,007
1998 $1,822 $3,022 $11,132 $15,994
1997 $1,720 $2,990 $10,437 $15,257
1996 $1,633 $2,931 $10,797 $14,284
1995 $1,272 $2,835 $10,738 $13,637
1994 $745 $2,853 $8,244 $13,975
1993 $540 $2,921 $7,255 $12,976
1992 $509 $2,991 $7,151 $12,296
1991 $597 $2,870 $7,229 $12,698
1990 $556 $2,840 $9,925 $13,491
1989 $465 - - -
1988 $540 - - -
1987 $588 - - -
1986 $628 - - -
1985 $869 - - -
1984 $890 - - -
1983 $1,207 - - -
1982 $1,822 - - -
1981 $2,162 - - -
1980 $870 - - -
1979 $661 - - -
1978 $527 - - -
1977 $536 - - -
1976 $556 - - -
1975 $438 - - -
1974 $403 - - -
1973 $252.4 - - -
1972 $209.5 - - -
1971 $160.5 - - -
1970 $224.5 - - -
1969 $121.4 - - -
1968 $97.3 - - -
1967 $99.5 - - -
1966 $124.4 - - -
1965 $117.3 - - -
1964 $113.3 - - -
1963 $107.7 - - -
1962 $104.5 - - -
1961 $97.1 - - -
1960 $93.1 - - -

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

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

Nigeria's GDP per capita is $1,084, ranking 174/197, compared to $34,301 in Slovenia, ranking 34/197. Adjusted for purchasing power (GDP per capita PPP), Nigeria ranks 136th at $9,087, while Slovenia ranks 37th at $57,186.

Economic indicators

Nigeria Slovenia
Gross domestic product
$252B
2024
$73B
2024
GDP rank
54/197
2024
86/197
2024
GDP growth
4.06%
2023-2024
1.73%
2023-2024
GDP per capita
$1,084
2024
$34,301
2024
GDP per capita rank
174/197
2024
34/197
2024
GDP per capita, PPP
$9,087
2024
$57,186
2024
GDP per capita PPP rank
136/197
2024
37/197
2024
Government debt
$99.2B
2024
$48.6B
2024
Debt-to-GDP ratio
39.3%
2024
66.6%
2024
Government debt per person
$426
2024
$22,842
2024
Government debt per person rank
170/185
2024
29/185
2024
Average annual personal income after taxes
$1,104
2026
$22,215
2026
Market capitalization of domestic companies
$54.4B
2024
$11.4B
2024
Number of billionaires
4
2025
n/a
Income share by richest 10%
26.3%
2022
20.6%
2023
Income share by poorest 10%
3%
2022
4.1%
2023
Government expenditure, % of GDP
12.3%
2024
46.5%
2024
Consumer prices inflation
33.2%
2023-2024
1.97%
2023-2024
Central bank interest rate
27%
2025
n/a
Unemployment rate
3.45%
2024
3.7%
2024
Population
243824469
2124138

Spending and national debt comparison by year

Nigeria
Spending

Debt
Slovenia
Spending

Debt
1x
Year % of GDP
Nigeria Slovenia
Government spending Government debt Government spending Government debt
2024 12.3% 39.3% 46.5% 66.6%
2023 10.4% 36.3% 46.4% 68.3%
2022 10.6% 29.8% 47.7% 72.8%
2021 9.09% 26.6% 49.9% 74.8%
2020 8.73% 25.7% 51.8% 80.2%
2019 8.87% 21.4% 43.8% 66%
2018 9.1% 20.4% 44.1% 71%
2017 8.51% 18% 44.6% 74.9%
2016 6.93% 17.4% 46.9% 79.4%
2015 7.85% 14.9% 49.5% 83.4%
2014 9.49% 12.9% 50.6% 81.1%
2013 10% 13% 57.7% 70.8%
2012 10.5% 12.5% 50% 54.1%
2011 12.3% 12.4% 51.4% 46.8%
2010 11.8% 6.67% 50.7% 38.6%
2009 11% 6.12% 50% 34.9%
2008 10.2% 5.17% 45.2% 21.9%
2007 12.9% 5.76% 43.5% 22.9%
2006 8.75% 6.68% 45.7% 26.2%
2005 12.6% 13.4% 46.7% 26.6%
2004 13% 25.2% 46.9% 27.1%
2003 16.5% 29.9% 47.6% 27%
2002 13.8% 30.7% 47.8% 27.7%
2001 21.9% 37.7% 49.2% 26.3%
2000 17.6% 40.9% 47.8% 26.1%
1999 14.9% 46.1% 47.2% 23.8%
1998 11.2% 15.8% 46.4% 22.8%
1997 9.68% 17.1% 45.4% 22.1%
1996 7.87% 17.9% 45.2% 21.6%
1995 8.87% 24.2% 53% 18.2%
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/nigeria/slovenia | CC BY

In 2024, Nigeria's government spending was $31.1B, accounting for 12.3% of its GDP, while Slovenia spent $33.9B, or 46.5% of GDP.

Debt-to-GDP ratio is 39.3% in Nigeria and 66.6% in Slovenia, ranking 135/185 and 66/185, respectively.

Government deficit by year

Deficit/surplus
Nigeria

Slovenia
1x
Year Deficit/surplus, % of GDP
Nigeria Slovenia
2024 -1.57% -0.93%
2023 -3.12% -2.59%
2022 -4% -3.02%
2021 -3.97% -4.61%
2020 -4.03% -7.68%
2019 -3.31% 0.68%
2018 -3.06% 0.9%
2017 -3.85% 0.05%
2016 -3.3% -2%
2015 -2.7% -2.84%
2014 -1.72% -4.53%
2013 -1.89% -11.2%
2012 -0.09% -4.2%
2011 0.31% -6.69%
2010 -2.96% -5.56%
2009 -3.78% -5.87%
2008 4.05% -1.44%
2007 -0.79% -0.08%
2006 6.22% -1.26%
2005 3.49% -1.38%
2004 3.9% -1.98%
2003 -1.56% -2.66%
2002 0.95% -2.47%
2001 -2.29% -4.58%
2000 2.89% -3.77%
1999 -1.39% -3.04%
1998 -3.47% -2.39%
1997 1.14% -2.37%
1996 3.37% -1.16%
1995 2.52% -8.19%
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/nigeria/slovenia | CC BY

In 2024, Nigeria's government deficit, the difference between spending and revenue, was $3.95B, equivalent to 1.57% of GDP. This compares to Slovenia's deficit of $681M, or 0.93% of GDP.

Over the past 30 years, Nigeria recorded a fiscal deficit in 20 of those years, while Slovenia ran a deficit in 27 years. On average, Nigeria posted an annual deficit equal to 0.8% of GDP, compared to deficit of 3.23% of GDP for Slovenia.

Inflation comparison by year

Inflation
Nigeria

Slovenia
1x
Year Consumer prices inflation
Nigeria Slovenia
2024 33.2% 1.97%
2023 24.7% 7.45%
2022 18.8% 8.83%
2021 17% 1.92%
2020 13.2% -0.05%
2019 11.4% 1.63%
2018 12.1% 1.74%
2017 16.5% 1.43%
2016 15.7% -0.05%
2015 9.01% -0.53%
2014 8.05% 0.2%
2013 8.5% 1.77%
2012 12.2% 2.6%
2011 10.8% 1.8%
2010 13.7% 1.8%
2009 12.5% 0.84%
2008 11.6% 5.65%
2007 5.39% 3.66%
2006 8.23% 2.46%
2005 17.9% 2.45%
2004 15% 3.59%
2003 14% 5.54%
2002 12.9% 7.48%
2001 18.9% 8.38%
2000 6.93% 8.91%
1999 6.62% 6.16%
1998 10% 7.89%
1997 8.53% 8.36%

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

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

Over the past 28 years, Nigeria has recorded an average annual inflation rate of 13.3%, compared with 3.71% in Slovenia. In 2024, inflation was 33.2% in Nigeria and 1.97% in Slovenia.

Top exports between countries

Nigeria
Export category Export value
Metals $89K
Raw agricultural goods $21K
Processed food, beverages & tobacco $12K
Machinery & equipment $7K
Chemicals & pharma $2K
Slovenia
Export category Export value
Chemicals & pharma $4.35M
Machinery & equipment $3.16M
Textiles & consumer goods $2.39M
Wood & paper products $1.4M
Manufacturing & construction services $784K
Business & finance services $685K
Metals $436K
IT & IP services $355K
Transport & tourism services $237K
Raw materials & minerals $81K

Balance of trade

Nigeria Slovenia
Current account balance
$17.2B
2024
$3.32B
2024
Current account balance ranking
20/190
2024
37/190
2024
Current account balance, % of GDP
+6.82%
2024
+4.55%
2024
Goods imports
$39.8B
2024
$45.2B
2024
Goods exports
$53B
2024
$45.6B
2024
Service imports
$17.9B
2024
$9.52B
2024
Service exports
$4.57B
2024
$13.6B
2024
Imports of goods and services, % of GDP
16.9%
1960
74.7%
2024
Exports of goods and services, % of GDP
9.24%
1960
80.9%
2024

Economic freedom indices

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

Nigeria Slovenia
Economic freedom 54.8 69.7
Economic freedom ranking 132/197 40/197
Property rights 29.7 87.6
Government integrity 23.5 66.1
Judicial effectiveness 34.4 91.6
Tax burden 84.6 55.5
Government spending 96.3 34.1
Fiscal health 83.5 83.5
Business freedom 50.3 78.7
Labor freedom 75.4 62.7
Monetary freedom 56.1 77.5
Trade freedom 64.4 79.4
Investment freedom 30 70
Financial freedom 30 50

Economic freedom comparison by year

Nigeria
Slovenia
1x
Year Economic freedom index
Nigeria Slovenia
2026 54.8 69.7
2025 53.4 68.3
2024 53.1 65.9
2023 53.9 68.5
2022 54.4 70.5
2021 58.7 68.3
2020 57.2 67.8
2019 57.3 65.5
2018 58.5 64.8
2017 57.1 59.2
2016 57.5 60.6
2015 55.6 60.3
2014 54.3 62.7
2013 55.1 61.7
2012 56.3 62.9
2011 56.7 64.6
2010 56.8 64.7
2009 55.1 62.9
2008 55.1 60.2
2007 55.6 59.6
2006 48.7 61.9
2005 48.4 59.6
2004 49.2 59.2
2003 49.5 57.7
2002 50.9 57.8
2001 49.6 61.8
2000 53.1 58.3
1999 55.7 61.3
1998 52.3 60.7
1997 52.8 55.6
1996 47.4 50.4
1995 47.3 -

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

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

The Economic Freedom Index for Nigeria is 54.8, ranking 132/197, compared to 69.7 for Slovenia, ranking 40/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nigeria Slovenia
Services, % of GDP
53.7%
2024
57.9%
2024
Industry, % of GDP
18.2%
2024
29.1%
2024
Agriculture, forestry, and fishing, % of GDP
25.9%
2024
1.54%
2024
GNI, Atlas method
$396B
2024
$67.6B
2024
GNI per capita, PPP
$8,850
2024
$56,520
2024
Total reserves including gold
$38.6B
2024
$2.83B
2024
Total reserves ranking
51/177
2024
118/177
2024
Net foreign direct investment
-$672M
2024
-$405M
2024
Net inflows of foreign direct investment
$1.08B
2024
$1.87B
2024
Net outflows of foreign direct investment
$408M
2024
$1.46B
2024
Servicing debt to the IMF, % of GNI
5.48%
2024
n/a
Poverty at national poverty lines
56.2%
2023
12.7%
2022
Gross capital formation, % of GDP n/a
21.5%
2024

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/nigeria/slovenia | 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 (2019–2024, 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.