Nigeria vs South Africa: Economic Indicators Comparison

Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while South Africa ranked 35th with $368.3B. By GDP 5-years average growth and GDP per capita, Nigeria and South Africa ranked 132nd vs 151st and 149th vs 95th, respectively.

Gross Domestic Product & Income

StatNigeriaSouth Africa
GDP$397.3B$368.3B
GDP growth, 1 year1.9%0.8%
GDP growth, 5-years average2%1.1%
Population190.9M57.7M
GDP per capita$2k$6.4k
GDP per capita growth-0.67%-0.57%
Purchasing Power Parity conversion factor110.036.16
Price level ratio of PPP conversion factor GDP to market exchange rate0.340.47
GDP per capita, PPP adjusted$6k$14k
GNI, Atlas method$384.8B$332.3B
GNI per capita$2k$5.8k
GNI, PPP adjusted$1.1T$765.8B
GNI per capita, PPP adjusted$5.7k$13k

Financial system and Human development

StatNigeriaSouth Africa
Income Tax Rate24%45%
Corporate Tax Rate30%28%
Inflation, consumer prices12.1%4.6%
Inflation, GDP deflator10.2%3.9%
Unemployment6%27%
Economic Freedom Index57.258.8
Personal Freedom Index6.016.92
Human Freedom Index6.16.78
Property Rights Index38.158.4
Judical Effectiveness Index32.238
Business Freedom Index54.762
Fiscal Health Index64.164
Labor Freedom Index8458.8
Investment Freedom Index4545
Financial Freedom Index4050
Trade Freedom Index62.475.8
Monetary Freedom Index61.775.9
Government Spending Index96.267.4
Tax Burden Index85.163.7
Government Integrity Index22.346.6
Corruption Perceptions Index2743
Life expectancy at birth, years5463.5
Suicide mortality rate, per 100,000 people9.511.6
Mortality caused by road traffic injury, per 100,000 people21.425.9
Intentional homicides, per 100,000 people9.935.9
International tourism, number of arrivals5.3M10.5M

Government debt & reserves

StatNigeriaSouth Africa
Central government debt, % of GDP28.4%56.7%
External debt stocks, % of GNI12.4%50.6%
External debt stocks$47B$179.3B
Short-term debt, % of total reserves0%70.9%
Total debt service, % of exports and primary income8.3%19.9%
Adjusted net savings including particulate emission damage, % of GNI1.4%0.6%
Gross savings, % of GDP19.3%14.9%
Gross capital formation, % of GDP19.8%17.9%
Total reserves including gold$42.8B$51.6B
Foreign direct investment net inflows$2B$5.5B

Exports, imports and economic structure

StatNigeriaSouth Africa
Exports of goods and services, % of GDP15.5%29.9%
Imports of goods and services, % of GDP17.5%29.6%
Current account balance (balance of payments)$5.3B-$13.4B
Revenue excluding grants, % of GDPN/A30.9%
Grants excluding technical cooperation, BoP$2B$817.9M
Personal remittances received$24.3B$929M
Industry including construction value added, % of GDP25.7%25.9%
Agriculture, forestry and fishing value added, % of GDP21.2%2.2%
Charges for the use of intellectual property, payments BoP$252.8M$1.8B
Charges for the use of intellectual property, receipts BoP$7.8M$120.7M
Expense, % of GDPN/A34.4%
Government Expenditure, % of GDP11.2%33%

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

South Africa vs

CountryGDP
per capita
Population
Brazil
$8.9k
210M
Montenegro
$8.8k
622k
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
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
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
Paraguay
$5.8k
6.81M
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