GDP Deflator — Value US$, 2015 prices in Nigeria
Nigeria: GDP Deflator — Value US$, 2015 prices was 32.49 USD in 2024. ◆ Volatile
GDP Deflator — Value US$, 2015 prices in Nigeria, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in USD.
Analysis
In 2024, gdp deflator — value us$, 2015 prices in Nigeria stood at 32.49 USD.
Compared with earlier readings it is down 51.6% on the previous year and down 72.5% over ten years.
Over the whole period, gdp deflator — value us$, 2015 prices in Nigeria peaked at 186.57 USD in 1983 and was at its lowest, 31.55 USD, in 1994.
That places Nigeria 220th out of 222 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP Deflator — Value US$, 2015 prices in Nigeria, year by year
| Year | USD | Change |
|---|---|---|
| 1970 | 33.4 USD | — |
| 1971 | 33.91 USD | +1.6% |
| 1972 | 38.48 USD | +13.5% |
| 1973 | 41.66 USD | +8.3% |
| 1974 | 60.88 USD | +46.1% |
| 1975 | 76.88 USD | +26.3% |
| 1976 | 87.56 USD | +13.9% |
| 1977 | 94.11 USD | +7.5% |
| 1978 | 108.15 USD | +14.9% |
| 1979 | 134.58 USD | +24.4% |
| 1980 | 170.79 USD | +26.9% |
| 1981 | 159.4 USD | -6.7% |
| 1982 | 167.84 USD | +5.3% |
| 1983 | 186.57 USD | +11.2% |
| 1984 | 186.29 USD | -0.2% |
| 1985 | 170.83 USD | -8.3% |
| 1986 | 91.74 USD | -46.3% |
| 1987 | 47.96 USD | -47.7% |
| 1988 | 51.02 USD | +6.4% |
| 1989 | 40.54 USD | -20.5% |
| 1990 | 39.62 USD | -2.3% |
| 1991 | 38.2 USD | -3.6% |
| 1992 | 32.11 USD | -15.9% |
| 1993 | 35.66 USD | +11.0% |
| 1994 | 31.55 USD | -11.5% |
| 1995 | 32.21 USD | +2.1% |
| 1996 | 32.8 USD | +1.8% |
| 1997 | 33.37 USD | +1.7% |
| 1998 | 33.74 USD | +1.1% |
| 1999 | 34.22 USD | +1.4% |
| 2000 | 38.12 USD | +11.4% |
| 2001 | 38.36 USD | +0.6% |
| 2002 | 42.86 USD | +11.7% |
| 2003 | 43.91 USD | +2.5% |
| 2004 | 52.25 USD | +19.0% |
| 2005 | 63.4 USD | +21.3% |
| 2006 | 80.13 USD | +26.4% |
| 2007 | 87.76 USD | +9.5% |
| 2008 | 100.49 USD | +14.5% |
| 2009 | 80.58 USD | -19.8% |
| 2010 | 94.3 USD | +17.0% |
| 2011 | 100.48 USD | +6.6% |
| 2012 | 107.34 USD | +6.8% |
| 2013 | 113.68 USD | +5.9% |
| 2014 | 118.14 USD | +3.9% |
| 2015 | 100 USD | -15.4% |
| 2016 | 82.27 USD | -17.7% |
| 2017 | 75.78 USD | -7.9% |
| 2018 | 83.45 USD | +10.1% |
| 2019 | 91.87 USD | +10.1% |
| 2020 | 84.75 USD | -7.7% |
| 2021 | 83.48 USD | -1.5% |
| 2022 | 87.51 USD | +4.8% |
| 2023 | 67.16 USD | -23.3% |
| 2024 | 32.49 USD | -51.6% |
Nigeria compared with similar countries
- Nigeria's 32.49 USD is below the median for lower middle income countries, which is 112.12 USD, 29% of the median. (41 countries reporting)
- Nigeria's 32.49 USD is below the median for Sub-Saharan Africa, which is 112.88 USD, 29% of the median. (44 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 70.96 USD | 33.4 USD | 134.58 USD | 10 |
| 1980s | 127.3 USD | 40.54 USD | 186.57 USD | 10 |
| 1990s | 34.35 USD | 31.55 USD | 39.62 USD | 10 |
| 2000s | 62.79 USD | 38.12 USD | 100.49 USD | 10 |
| 2010s | 96.73 USD | 75.78 USD | 118.14 USD | 10 |
| 2020s | 71.08 USD | 32.49 USD | 87.51 USD | 5 |
Countries ranked near Nigeria
- 217 USSR 48.49 USD compare
- 218 Yemen 46.49 USD compare
- 219 Czechoslovakia 34.53 USD compare
- 221 Yemen Ar Rp 20.3 USD compare
- 221 Yemen Dem 20.3 USD compare
More economy & growth data for Nigeria
- Real gdp growth, annual growth rate 22.77 % change on previous year (2024)
- 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)
- SDRs holdings, US dollar, annual growth rate 3.99 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0148 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 18.13 units per person (2025)
- SDRs holdings, SDR, annual growth rate -0.9704 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0108 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 13.24 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -17.26 % change on previous year (2025)
Frequently asked questions
- What is gdp deflator — value us$, 2015 prices in Nigeria?
- Gdp deflator — value us$, 2015 prices in Nigeria was 32.49 USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gdp deflator — value us$, 2015 prices recorded in Nigeria?
- The highest recorded value was 186.57 USD in 1983.
- What is the lowest gdp deflator — value us$, 2015 prices recorded in Nigeria?
- The lowest recorded value was 31.55 USD in 1994.
- How does Nigeria rank for gdp deflator — value us$, 2015 prices?
- Nigeria ranks 220th out of 222 countries with data for 2024.
- Is gdp deflator — value us$, 2015 prices rising or falling in Nigeria?
- Over the last ten years it is down 72.5%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of GDP Deflator — Value US$, 2015 prices. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Deflators database provides the following selection of price deflator series by country and at regional level: Gross Domestic Product deflator, Gross Fixed Capital Formation deflator, Manufacturing Value-Added deflator, and Agriculture, Forestry, Fishery Valued-Added deflator. In the FAOSTAT Deflators database, all series are derived from the United Nations Statistics Division (UNSD) National Accounts Analysis of Main Aggregates database (UNSD AMA). In particular, the implicit Gross Domestic Product deflator, the implicit Gross Fixed Capital Formation deflator, the implicit value added deflator of Agriculture, Forestry, Fishery and the implicit value added deflator of Manufacturing are obtained by dividing the series in current prices by those in constant 2015 prices (base year).