Nigeria vs the United Kingdom: Economic Indicators Comparison

The United Kingdom with a GDP of $2.9T ranked the 5th largest economy in the world, while Nigeria ranked 32nd with $397.3B. By GDP 5-years average growth and GDP per capita, the United Kingdom and Nigeria ranked 126th vs 132nd and 23rd vs 149th, respectively.

Gross Domestic Product & Income

StatNigeriaUnited Kingdom
GDP$397.3B$2.9T
GDP growth, 1 year1.9%1.4%
GDP growth, 5-years average2%2.1%
Population190.9M66M
GDP per capita$2k$43k
GDP per capita growth-0.67%0.73%
Purchasing Power Parity conversion factor110.030.7
Price level ratio of PPP conversion factor GDP to market exchange rate0.340.93
GDP per capita, PPP adjusted$6k$46k
GNI, Atlas method$384.8B$2.8T
GNI per capita$2k$42k
GNI, PPP adjusted$1.1T$3T
GNI per capita, PPP adjusted$5.7k$45k

Financial system and Human development

StatNigeriaUnited Kingdom
Income Tax Rate24%45%
Corporate Tax Rate30%20%
Inflation, consumer prices12.1%2.5%
Inflation, GDP deflator10.2%1.9%
Unemployment6%4%
Economic Freedom Index57.279.3
Personal Freedom Index6.019.08
Human Freedom Index6.18.55
Property Rights Index38.192.2
Judical Effectiveness Index32.282.7
Business Freedom Index54.794.7
Fiscal Health Index64.178.1
Labor Freedom Index8473.1
Investment Freedom Index4580
Financial Freedom Index4080
Trade Freedom Index62.486.4
Monetary Freedom Index61.780.3
Government Spending Index96.249.5
Tax Burden Index85.164.7
Government Integrity Index22.389.9
Corruption Perceptions Index2780
Life expectancy at birth, years5481.2
Suicide mortality rate, per 100,000 people9.58.9
Mortality caused by road traffic injury, per 100,000 people21.43.1
Intentional homicides, per 100,000 people9.91.2
International tourism, number of arrivals5.3M36.3M

Government debt & reserves

StatNigeriaUnited Kingdom
Central government debt, % of GDP28.4%86.9%
External debt stocks, % of GNI12.4%N/A
External debt stocks$47BN/A
Short-term debt, % of total reserves0%N/A
Total debt service, % of exports and primary income8.3%N/A
Adjusted net savings including particulate emission damage, % of GNI1.4%5.5%
Gross savings, % of GDP19.3%13.4%
Gross capital formation, % of GDP19.8%17.3%
Total reserves including gold$42.8B$172.7B
Foreign direct investment net inflows$2B$35.1B

Exports, imports and economic structure

StatNigeriaUnited Kingdom
Exports of goods and services, % of GDP15.5%30%
Imports of goods and services, % of GDP17.5%31.8%
Current account balance (balance of payments)$5.3B-$123.1B
Revenue excluding grants, % of GDPN/A35.3%
Grants excluding technical cooperation, BoP$2BN/A
Personal remittances received$24.3B$4.4B
Industry including construction value added, % of GDP25.7%17.5%
Agriculture, forestry and fishing value added, % of GDP21.2%0.6%
Charges for the use of intellectual property, payments BoP$252.8M$13.5B
Charges for the use of intellectual property, receipts BoP$7.8M$21.7B
Expense, % of GDPN/A36%
Government Expenditure, % of GDP11.2%41%

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

United Kingdom vs

CountryGDP
per capita
Population
Iceland
$73k
357k
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
24.5M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k
South Korea
$31k
51.5M
Spain
$30k
46.7M
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M