Nigeria vs Somalia: Economic Indicators Comparison

Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while Somalia ranked 159th with $4.7B. By GDP 5-years average growth and GDP per capita, Nigeria and Somalia ranked 132nd vs 97th and 149th vs 196th, respectively.

Gross Domestic Product & Income

StatNigeriaSomalia
GDP$397.3B$4.7B
GDP growth, 1 year1.9%3.1%
GDP growth, 5-years average2%2.9%
Population190.9M11M
GDP per capita$2k$315
GDP per capita growth-0.67%-2.74%
Purchasing Power Parity conversion factor110.0311427.68
Price level ratio of PPP conversion factor GDP to market exchange rate0.34N/A
GDP per capita, PPP adjusted$6k$500
GNI, Atlas method$384.8B$959.2M
GNI per capita$2k$130
GNI, PPP adjusted$1.1TN/A
GNI per capita, PPP adjusted$5.7kN/A

Financial system and Human development

StatNigeriaSomalia
Income Tax Rate24%N/A
Corporate Tax Rate30%N/A
Inflation, consumer prices12.1%1.5%
Inflation, GDP deflator10.2%215.5%
Unemployment6%14%
Economic Freedom Index57.229
Personal Freedom Index6.013.6
Human Freedom Index6.13.4
Property Rights Index38.120.1
Judical Effectiveness Index32.226.5
Business Freedom Index54.731.6
Fiscal Health Index64.1N/A
Labor Freedom Index84N/A
Investment Freedom Index45N/A
Financial Freedom Index40N/A
Trade Freedom Index62.4N/A
Monetary Freedom Index61.7N/A
Government Spending Index96.2N/A
Tax Burden Index85.1N/A
Government Integrity Index22.313.1
Corruption Perceptions Index2710
Life expectancy at birth, years5456.7
Suicide mortality rate, per 100,000 people9.54.7
Mortality caused by road traffic injury, per 100,000 people21.427.1
Intentional homicides, per 100,000 people9.94.3
International tourism, number of arrivals5.3MN/A

Government debt & reserves

StatNigeriaSomalia
Central government debt, % of GDP28.4%N/A
External debt stocks, % of GNI12.4%39.4%
External debt stocks$47B$2.9B
Short-term debt, % of total reserves0%847.9%
Total debt service, % of exports and primary income8.3%47.6%
Adjusted net savings including particulate emission damage, % of GNI1.4%N/A
Gross savings, % of GDP19.3%N/A
Gross capital formation, % of GDP19.8%15.5%
Total reserves including gold$42.8B$23.1M
Foreign direct investment net inflows$2B$409M

Exports, imports and economic structure

StatNigeriaSomalia
Exports of goods and services, % of GDP15.5%25.9%
Imports of goods and services, % of GDP17.5%99.6%
Current account balance (balance of payments)$5.3BN/A
Revenue excluding grants, % of GDPN/A0%
Grants excluding technical cooperation, BoP$2B$1.5B
Personal remittances received$24.3B$21.7M
Industry including construction value added, % of GDP25.7%9.5%
Agriculture, forestry and fishing value added, % of GDP21.2%62.7%
Charges for the use of intellectual property, payments BoP$252.8MN/A
Charges for the use of intellectual property, receipts BoP$7.8MN/A
Expense, % of GDPN/A0%
Government Expenditure, % of GDP11.2%N/A

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

Somalia vs

CountryGDP
per capita
Population
Mauritania
$1.2k
4.42M
South Sudan
$1.1k
12.6M
Tanzania
$1.1k
57.3M
Nepal
$1k
29.4M
Sudan
$977
40.5M
Yemen
$944
28.3M
Benin
$902
11.2M
Mali
$900
18.5M
Guinea
$879
12.7M
Haiti
$868
11M
Tajikistan
$827
8.92M
Eritrea
$811
3.5M
Guinea-Bissau
$778
1.86M
Rwanda
$773
12.2M
Ethiopia
$772
105M
Chad
$728
15.5M
Gambia
$716
2.1M
Burkina Faso
$715
19.2M
Togo
$679
7.8M
Liberia
$677
4.73M
Uganda
$643
42.9M
DR Congo
$562
86.8M
Sierra Leone
$534
7.56M
Madagascar
$528
25.6M
Afghanistan
$521
34.9M
Mozambique
$499
29.7M
Central African Republic
$476
4.66M
Niger
$414
21.5M
Malawi
$389
18.6M
Burundi
$272
10.9M