GDP Deflator — Value Standard Local Currency, 2015 prices, annual in Nigeria
Nigeria: GDP Deflator — Value Standard Local Currency, 2015 prices, annual was 14.45 % change on previous year in 2024. ◆ Volatile
GDP Deflator — Value Standard Local Currency, 2015 prices, annual in Nigeria, 1971–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Nigeria recorded 14.45 % change on previous year for gdp deflator — value standard local currency, 2015 prices, annual in 2024.
That represents a change of up 14.5% on the previous year and up 204.5% over ten years.
Over the whole period, gdp deflator — value standard local currency, 2015 prices, annual in Nigeria peaked at 75.4 % change on previous year in 1995 and was at its lowest, 0.6863 % change on previous year, in 2009.
That places Nigeria 19th out of 209 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
GDP Deflator — Value Standard Local Currency, 2015 prices, annual in Nigeria, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 1.35 % change on previous year | — |
| 1972 | 4.71 % change on previous year | +249.2% |
| 1973 | 8.28 % change on previous year | +75.9% |
| 1974 | 40 % change on previous year | +383.0% |
| 1975 | 23.32 % change on previous year | -41.7% |
| 1976 | 15.94 % change on previous year | -31.6% |
| 1977 | 10.58 % change on previous year | -33.7% |
| 1978 | 13.24 % change on previous year | +25.1% |
| 1979 | 18.32 % change on previous year | +38.4% |
| 1980 | 14.89 % change on previous year | -18.7% |
| 1981 | 5.43 % change on previous year | -63.5% |
| 1982 | 14.8 % change on previous year | +172.4% |
| 1983 | 19.57 % change on previous year | +32.2% |
| 1984 | 5.65 % change on previous year | -71.1% |
| 1985 | 6.93 % change on previous year | +22.5% |
| 1986 | 5.42 % change on previous year | -21.8% |
| 1987 | 19.67 % change on previous year | +263.2% |
| 1988 | 20.18 % change on previous year | +2.6% |
| 1989 | 28.97 % change on previous year | +43.6% |
| 1990 | 6.67 % change on previous year | -77.0% |
| 1991 | 18.86 % change on previous year | +182.8% |
| 1992 | 46.75 % change on previous year | +147.8% |
| 1993 | 41.64 % change on previous year | -10.9% |
| 1994 | 43.3 % change on previous year | +4.0% |
| 1995 | 75.4 % change on previous year | +74.2% |
| 1996 | 26.49 % change on previous year | -64.9% |
| 1997 | 5.06 % change on previous year | -80.9% |
| 1998 | 6.01 % change on previous year | +18.9% |
| 1999 | 13.43 % change on previous year | +123.5% |
| 2000 | 22.67 % change on previous year | +68.8% |
| 2001 | 10.08 % change on previous year | -55.6% |
| 2002 | 21.11 % change on previous year | +109.5% |
| 2003 | 9.8 % change on previous year | -53.6% |
| 2004 | 22.37 % change on previous year | +128.2% |
| 2005 | 19.86 % change on previous year | -11.2% |
| 2006 | 23.86 % change on previous year | +20.2% |
| 2007 | 7.1 % change on previous year | -70.3% |
| 2008 | 7.92 % change on previous year | +11.6% |
| 2009 | 0.6863 % change on previous year | -91.3% |
| 2010 | 18.14 % change on previous year | +2543.4% |
| 2011 | 9.08 % change on previous year | -49.9% |
| 2012 | 9.35 % change on previous year | +2.9% |
| 2013 | 5.78 % change on previous year | -38.1% |
| 2014 | 4.75 % change on previous year | -17.9% |
| 2015 | 2.73 % change on previous year | -42.4% |
| 2016 | 8.37 % change on previous year | +206.1% |
| 2017 | 11.12 % change on previous year | +32.9% |
| 2018 | 10.23 % change on previous year | -8.0% |
| 2019 | 10.38 % change on previous year | +1.5% |
| 2020 | 7.85 % change on previous year | -24.4% |
| 2021 | 10.13 % change on previous year | +29.1% |
| 2022 | 11.31 % change on previous year | +11.6% |
| 2023 | 12.62 % change on previous year | +11.6% |
| 2024 | 14.45 % change on previous year | +14.5% |
Nigeria compared with similar countries
- Nigeria's 14.45 % change on previous year is above the median for lower middle income countries, which is 4.74 % change on previous year, 3.0× the median. (41 countries reporting)
- Nigeria's 14.45 % change on previous year is above the median for Sub-Saharan Africa, which is 4.4 % change on previous year, 3.3× the median. (44 countries reporting)
Biggest year-on-year movements
Years where GDP Deflator — Value Standard Local Currency, 2015 prices, annual in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2010 | +2543.4% | 0.6863 % change on previous year | 18.14 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 15.08 % change on previous year | 1.35 % change on previous year | 40 % change on previous year | 9 |
| 1980s | 14.15 % change on previous year | 5.42 % change on previous year | 28.97 % change on previous year | 10 |
| 1990s | 28.36 % change on previous year | 5.06 % change on previous year | 75.4 % change on previous year | 10 |
| 2000s | 14.55 % change on previous year | 0.6863 % change on previous year | 23.86 % change on previous year | 10 |
| 2010s | 8.99 % change on previous year | 2.73 % change on previous year | 18.14 % change on previous year | 10 |
| 2020s | 11.27 % change on previous year | 7.85 % change on previous year | 14.45 % change on previous year | 5 |
Countries ranked near Nigeria
- 16 Sierra Leone 20 % change on previous year compare
- 17 Suriname 19.7 % change on previous year compare
- 18 Zambia 18.78 % change on previous year compare
- 20 Sao Tome and Principe 14.35 % change on previous year compare
- 21 Democratic Republic of the Congo 14.31 % change on previous year compare
- 22 Lao People's Democratic Republic 13.91 % change on previous year compare
More economy & growth data for Nigeria
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.19 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0041 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.01 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 148.16 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0138 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 16.86 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is gdp deflator — value standard local currency, 2015 prices, annual in Nigeria?
- Gdp deflator — value standard local currency, 2015 prices, annual in Nigeria was 14.45 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gdp deflator — value standard local currency, 2015 prices, annual recorded in Nigeria?
- The highest recorded value was 75.4 % change on previous year in 1995.
- What is the lowest gdp deflator — value standard local currency, 2015 prices, annual recorded in Nigeria?
- The lowest recorded value was 0.6863 % change on previous year in 2009.
- How does Nigeria rank for gdp deflator — value standard local currency, 2015 prices, annual?
- Nigeria ranks 19th out of 209 countries with data for 2024.
- Is gdp deflator — value standard local currency, 2015 prices, annual rising or falling in Nigeria?
- Over the last ten years it is up 204.5%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Statizoid (derived), published as part of GDP Deflator — Value Standard Local Currency, 2015 prices, annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in GDP Deflator — Value Standard Local Currency, 2015 prices. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- GDP Deflator — Value Standard Local Currency, 2015 prices Food and Agriculture Organization of the United Nations
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in GDP Deflator — Value Standard Local Currency, 2015 prices. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.