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Economy of Nigeria vs Vanuatu compared: GDP & Debt

Updated on by Georank

Nigeria has a GDP of $291B compared to $1.35B for Vanuatu, ranking 50/197 and 185/197 by economy size, respectively.

Nigeria has $103B in government debt (35.5% of GDP), compared to $554M (40.9% of GDP) in Vanuatu.

Nigeria vs Vanuatu GDP by year

Nigeria
Vanuatu
1x
Year GDP, current $
Nigeria Vanuatu
2025 $290,794,361,542 $1,353,658,841
2024 $252,261,880,140 $1,297,956,615
2023 $487,387,801,878 $1,188,137,265
2022 $646,950,257,575 $1,151,863,790
2021 $609,147,716,965 $1,093,826,089
2020 $598,586,817,817 $1,017,403,363
2019 $668,219,992,687 $1,061,547,513
2018 $421,739,251,509 $1,034,402,941
2017 $375,745,731,053 $998,536,155
2016 $404,649,125,252 $908,725,513
2015 $493,026,682,801 $855,360,240
2014 $574,183,763,412 $879,185,478
2013 $520,117,180,314 $863,347,172
2012 $463,971,018,239 $747,839,698
2011 $414,466,676,831 $770,153,588
2010 $366,990,417,129 $670,712,980
2009 $295,008,835,381 $592,622,319
2008 $339,476,276,258 $590,748,429
2007 $278,260,846,800 $516,392,923
2006 $238,454,997,161 $439,358,587
2005 $175,670,569,969 $394,962,433
2004 $135,764,731,646 $364,996,869
2003 $104,738,954,264 $314,471,413
2002 $95,054,059,303 $262,596,536
2001 $73,557,840,064 $257,926,882
2000 $69,171,451,627 $272,014,628
1999 $59,145,077,039 $268,006,973
1998 $218,416,200,673 $262,293,411
1997 $200,850,397,618 $272,771,209
1996 $185,730,236,700 $261,370,044
1995 $140,919,776,986 $249,333,250
1994 $80,399,613,064 $233,701,301
1993 $56,721,051,402 $200,491,853
1992 $52,058,181,854 $209,088,825
1991 $59,526,833,412 $201,334,169
1990 $54,035,795,388 $168,879,207
1989 $44,003,061,108 $154,013,202
1988 $49,648,470,440 $158,351,368
1987 $52,676,041,931 $139,464,174
1986 $54,805,852,581 $126,498,935
1985 $73,745,821,158 $131,856,421
1984 $73,484,359,521 $144,482,515
1983 $97,094,911,792 $117,389,554
1982 $142,769,363,314 $114,501,913
1981 $164,475,209,516 $113,781,796
1980 $64,201,788,123 $121,185,498
1979 $47,259,911,894 $119,258,835
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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Nigeria vs Vanuatu by year

Nigeria
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nigeria Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,224 - $4,039 -
2024 $1,084 $9,087 $3,960 $3,606
2023 $2,139 $8,705 $3,708 $3,568
2022 $2,899 $8,305 $3,680 $3,453
2021 $2,787 $7,588 $3,576 $3,136
2020 $2,797 $7,415 $3,404 $3,118
2019 $3,190 $7,551 $3,636 $3,315
2018 $2,058 $7,158 $3,626 $3,233
2017 $1,876 $7,037 $3,585 $3,146
2016 $2,070 $7,072 $3,340 $3,030
2015 $2,586 $7,308 $3,214 $2,966
2014 $3,089 $7,396 $3,378 $2,890
2013 $2,873 $7,004 $3,393 $2,832
2012 $2,633 $6,671 $3,005 $2,834
2011 $2,418 $6,585 $3,163 $2,816
2010 $2,202 $6,301 $2,815 $2,733
2009 $1,820 $5,927 $2,546 $2,730
2008 $2,154 $5,607 $2,604 $2,701
2007 $1,816 $5,298 $2,334 $2,573
2006 $1,600 $4,975 $2,035 $2,496
2005 $1,211 $4,678 $1,874 $2,287
2004 $962 $4,381 $1,774 $2,157
2003 $763 $4,015 $1,567 $2,070
2002 $712 $3,770 $1,341 $1,995
2001 $566 $3,309 $1,350 $2,125
2000 $547 $3,139 $1,460 $2,206
1999 $481 $3,002 $1,472 $2,084
1998 $1,822 $3,022 $1,471 $2,091
1997 $1,720 $2,990 $1,562 $2,087
1996 $1,633 $2,931 $1,529 $1,998
1995 $1,272 $2,835 $1,492 $1,961
1994 $745 $2,853 $1,431 $1,946
1993 $540 $2,921 $1,257 $1,789
1992 $509 $2,991 $1,344 $1,777
1991 $597 $2,870 $1,326 $1,737
1990 $556 $2,840 $1,141 $1,670
1989 $465 - $1,067 -
1988 $540 - $1,125 -
1987 $588 - $1,017 -
1986 $628 - $946 -
1985 $869 - $1,012 -
1984 $890 - $1,137 -
1983 $1,207 - $947 -
1982 $1,822 - $946 -
1981 $2,162 - $962 -
1980 $870 - $1,048 -
1979 $661 - $1,055 -
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 (1960–2025, retrieved 2026-07-08).

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

Nigeria's GDP per capita is $1,224, ranking 172/197, compared to $4,039 in Vanuatu, ranking 133/197. Adjusted for purchasing power (GDP per capita PPP), Nigeria ranks 136th at $9,087, while Vanuatu ranks 170th at $3,606.

Economic indicators

Nigeria Vanuatu
Gross domestic product
$291B
2025
$1.35B
2025
GDP rank
50/197
2025
185/197
2025
GDP growth
4.01%
2024-2025
3.05%
2024-2025
GDP per capita
$1,224
2025
$4,039
2025
GDP per capita rank
172/197
2025
133/197
2025
GDP per capita, PPP
$9,087
2024
$3,606
2024
GDP per capita PPP rank
136/197
2024
170/197
2024
Government debt
$103B
2025
$554M
2025
Debt-to-GDP ratio
35.5%
2025
40.9%
2025
Government debt per person
$434
2025
$1,654
2025
Government debt per person rank
170/185
2025
125/185
2025
Average annual personal income after taxes
$768
2026
$2,801
2026
Market capitalization of domestic companies
$86.9B
2025
n/a
Number of billionaires
4
2026
n/a
Income share by richest 10%
26.3%
2022
24.7%
2019
Income share by poorest 10%
3%
2022
3%
2019
Government expenditure, % of GDP
11.7%
2025
35.5%
2025
Consumer prices inflation
23%
2024-2025
0.66%
2024-2025
Central bank interest rate
26.5%
2026
n/a
Unemployment rate
3.45%
2024
1.41%
2025
Population
245016045
346488

Spending and national debt comparison by year

Nigeria
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Nigeria Vanuatu
Government spending Government debt Government spending Government debt
2025 11.7% 35.5% 35.5% 40.9%
2024 12% 39.3% 33.1% 39.1%
2023 10.4% 36.3% 38.9% 39.2%
2022 10.6% 29.8% 38.5% 39.2%
2021 9.09% 26.6% 38.6% 42.2%
2020 8.73% 25.7% 38.8% 42.9%
2019 8.87% 21.4% 35.1% 39.8%
2018 9.1% 20.4% 29.4% 40%
2017 8.51% 18% 32.7% 46.4%
2016 6.93% 17.4% 31.2% 37.6%
2015 7.85% 14.9% 38.1% 32.2%
2014 9.49% 15.8% 20.5% 17.8%
2013 10% 13% 20.1% 16.4%
2012 10.5% 12.5% 22.1% 17.4%
2011 12.3% 12.4% 22.7% 19.3%
2010 11.8% 6.67% 25.6% 18.3%
2009 11% 6.12% 24.9% 19.1%
2008 10.2% 5.17% 25.1% 19.2%
2007 12.9% 5.76% 20.3% 17.6%
2006 8.75% 6.68% 18.2% 20%
2005 12.6% 13.4% 16.5% 23.8%
2004 13% 25.2% 16.7% 27.5%
2003 16.5% 29.9% 17% 34.6%
2002 13.8% 30.7% 20.2% 35.1%
2001 21.9% 37.7% 20.2% 33.5%
2000 17.6% 40.9% 23% 32.6%
1999 14.9% 46.1% 21.6% 27.7%
1998 11.2% 15.8% 25.2% 25.4%
1997 9.68% 17.1% 20.1% 20.7%
1996 7.87% 17.9% 22.1% 20.8%
1995 8.87% 24.2% 25.3% 21.8%
1994 12.1% 39.7% 22% 19.5%
1993 20% 50.4% 23.7% 18.3%
1992 15.9% 49.8% 28.8% 19%
1991 13.6% 53.2% 30% 14.4%
1990 14.2% 50.9% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Nigeria's government spending was $34.1B, accounting for 11.7% of its GDP, while Vanuatu spent $480M, or 35.5% of GDP.

Debt-to-GDP ratio is 35.5% in Nigeria and 40.9% in Vanuatu, ranking 143/185 and 131/185, respectively.

Government deficit by year

Deficit/surplus
Nigeria

Vanuatu
1x
Year Deficit/surplus, % of GDP
Nigeria Vanuatu
2025 -1.76% -3.88%
2024 -1.27% -2.46%
2023 -3.12% -0.78%
2022 -4% -5.96%
2021 -3.97% 2.07%
2020 -4.03% -1.74%
2019 -3.31% 2.48%
2018 -3.06% 5.53%
2017 -3.85% -1.06%
2016 -3.3% -0.64%
2015 -2.7% -8.13%
2014 -1.72% 1.26%
2013 -1.89% -0.22%
2012 -0.09% -1.54%
2011 0.31% -1.98%
2010 -2.96% -2.38%
2009 -3.78% -0.76%
2008 4.05% -0.04%
2007 -0.79% 0.25%
2006 6.22% 0.44%
2005 3.49% 1.68%
2004 3.9% 0.72%
2003 -1.56% -1.22%
2002 0.95% -3.29%
2001 -2.29% -3.01%
2000 2.89% -5.67%
1999 -1.39% -0.5%
1998 -3.47% -6.01%
1997 1.14% -0.46%
1996 3.37% -1.61%
1995 2.52% -2.34%
1994 -2.96% -1.35%
1993 -6.07% -3.32%
1992 0.94% -2.1%
1991 -1.18% -2.54%
1990 -0.48% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Nigeria's government deficit, the difference between spending and revenue, was $5.12B, equivalent to 1.76% of GDP. This compares to Vanuatu's deficit of $52.6M, or 3.88% of GDP.

Over the past 35 years, Nigeria recorded a fiscal deficit in 24 of those years, while Vanuatu ran a deficit in 27 years. On average, Nigeria posted an annual deficit equal to 0.99% of GDP, compared to deficit of 1.44% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Nigeria

Vanuatu
1x
Year Consumer prices inflation
Nigeria Vanuatu
2025 23% 0.66%
2024 33.2% 1.14%
2023 24.7% 11.2%
2022 18.8% 6.68%
2021 17% 2.34%
2020 13.2% 5.33%
2019 11.4% 2.76%
2018 12.1% 2.33%
2017 16.5% 3.08%
2016 15.7% 0.84%
2015 9.01% 2.48%
2014 8.05% 0.8%
2013 8.5% 1.46%
2012 12.2% 1.35%
2011 10.8% 0.87%
2010 13.7% 2.76%
2009 12.5% 4.3%
2008 11.6% 4.84%
2007 5.39% 3.94%
2006 8.23% 2.04%
2005 17.9% 1.2%
2004 15% 1.42%
2003 14% 3.02%
2002 12.9% 1.96%
2001 18.9% 3.58%
2000 6.93% 2.54%
1999 6.62% 2%
1998 10% 3.28%
1997 8.53% 2.83%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Nigeria has recorded an average annual inflation rate of 13.7%, compared with 2.86% in Vanuatu. In 2025, inflation was 23% in Nigeria and 0.66% in Vanuatu.

Top exports between countries

Nigeria
Export category Export value
Raw materials & minerals $19K
Vanuatu
Export category Export value

Balance of trade

Nigeria Vanuatu
Current account balance
$14B
2025
-$127M
2022
Current account balance ranking
21/190
2025
83/190
2022
Current account balance, % of GDP
+4.83%
2025
-11.1%
2022
Goods imports
$43B
2025
$350M
2022
Goods exports
$57.5B
2025
$73.6M
2022
Service imports
$19.6B
2025
$230M
2022
Service exports
$5.06B
2025
$78.5M
2022
Imports of goods and services, % of GDP
16.9%
1960
48%
2024
Exports of goods and services, % of GDP
9.24%
1960
25.3%
2024

Economic freedom indices

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

Nigeria Vanuatu
Economic freedom 54.8 61.1
Economic freedom ranking 132/197 92/197
Property rights 29.7 62.1
Government integrity 23.5 48.3
Judicial effectiveness 34.4 67.9
Tax burden 84.6 96.9
Government spending 96.3 48.1
Fiscal health 83.5 78.8
Business freedom 50.3 50.3
Labor freedom 75.4 41
Monetary freedom 56.1 72.1
Trade freedom 64.4 62
Investment freedom 30 65
Financial freedom 30 40

Economic freedom comparison by year

Nigeria
Vanuatu
1x
Year Economic freedom index
Nigeria Vanuatu
2026 54.8 61.1
2025 53.4 61.8
2024 53.1 62.2
2023 53.9 62.1
2022 54.4 62.9
2021 58.7 60.5
2020 57.2 60.7
2019 57.3 56.4
2018 58.5 69.5
2017 57.1 67.4
2016 57.5 60.8
2015 55.6 61.1
2014 54.3 59.5
2013 55.1 56.6
2012 56.3 56.6
2011 56.7 56.7
2010 56.8 56.4
2009 55.1 58.4
2008 55.1 -
2007 55.6 -
2006 48.7 -
2005 48.4 -
2004 49.2 -
2003 49.5 -
2002 50.9 -
2001 49.6 -
2000 53.1 -
1999 55.7 -
1998 52.3 -
1997 52.8 -
1996 47.4 -
1995 47.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Nigeria is 54.8, ranking 132/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nigeria Vanuatu
Services, % of GDP
58.2%
2025
56.8%
2024
Industry, % of GDP
16.4%
2025
10.1%
2024
Agriculture, forestry, and fishing, % of GDP
23%
2025
26.6%
2024
GNI, Atlas method
$324B
2025
$1.48B
2025
GNI per capita, PPP
$9,230
2025
$4,970
2025
Total reserves including gold
$46B
2025
$615M
2024
Total reserves ranking
52/177
2025
152/177
2024
Net foreign direct investment
-$2.82B
2025
-$9.21M
2022
Net inflows of foreign direct investment
$1.61B
2024
$28.9M
2024
Net outflows of foreign direct investment
$408M
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI
5.46%
2024
1.88%
2024
Poverty at national poverty lines
56.2%
2023
15.9%
2020
Gross capital formation, % of GDP n/a
26.1%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  6. LivingCost (2026, retrieved 2026-07-08)
  7. TradeMap (2020, retrieved 2026-07-08)

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.