Gross domestic product (GDP) in Nigeria
Nigeria: Gross domestic product (GDP) was 1.07 trillion international-$ in 2021 prices in 2023. ◆ Volatile
Gross domestic product (GDP) in Nigeria, 1950–2023
Source: Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
The most recent figure for gross domestic product (gdp) in Nigeria is 1.07 trillion international-$ in 2021 prices, measured in 2023.
Compared with earlier readings it is down 1.0% on the previous year and down 0.8% over ten years.
Over the whole period, gross domestic product (gdp) in Nigeria peaked at 1.20 trillion international-$ in 2021 prices in 2020 and was at its lowest, 63.14 billion international-$ in 2021 prices, in 1950.
That places Nigeria 30th out of 184 countries with data for 2023, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 69.40 billion international-$ in 2021 prices | 63.14 billion international-$ in 2021 prices | 80.27 billion international-$ in 2021 prices | 10 |
| 1960s | 108.31 billion international-$ in 2021 prices | 91.23 billion international-$ in 2021 prices | 130.25 billion international-$ in 2021 prices | 10 |
| 1970s | 268.38 billion international-$ in 2021 prices | 175.97 billion international-$ in 2021 prices | 352.48 billion international-$ in 2021 prices | 10 |
| 1980s | 360.80 billion international-$ in 2021 prices | 331.59 billion international-$ in 2021 prices | 380.44 billion international-$ in 2021 prices | 3 |
| 1990s | 92.24 billion international-$ in 2021 prices | 92.24 billion international-$ in 2021 prices | 92.24 billion international-$ in 2021 prices | 1 |
| 2000s | 431.58 billion international-$ in 2021 prices | 125.80 billion international-$ in 2021 prices | 761.40 billion international-$ in 2021 prices | 10 |
| 2010s | 1.08 trillion international-$ in 2021 prices | 909.02 billion international-$ in 2021 prices | 1.20 trillion international-$ in 2021 prices | 10 |
| 2020s | 1.12 trillion international-$ in 2021 prices | 1.07 trillion international-$ in 2021 prices | 1.20 trillion international-$ in 2021 prices | 4 |
Countries ranked near Nigeria
- 27 Netherlands 1.26 trillion international-$ in 2021 prices compare
- 28 Argentina 1.24 trillion international-$ in 2021 prices compare
- 29 Philippines 1.16 trillion international-$ in 2021 prices compare
- 31 Malaysia 1.07 trillion international-$ in 2021 prices compare
- 32 Colombia 915.37 billion international-$ in 2021 prices compare
- 33 United Arab Emirates 812.83 billion international-$ in 2021 prices compare
More economy & growth data for Nigeria
- Inflation of consumer prices 23.0% (2025)
- GDP per capita 2,369 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 8.3% (2025)
- Gross domestic product (GDP) 562.59 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 2,369 constant 2015 US$ (2025)
- DEC alternative conversion factor 1,518 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 35.23 trillion current LCU (2025)
- Net secondary income (Net current transfers from abroad) 23.20 billion current US$ (2025)
- Taxes less subsidies on products 10.36 trillion current LCU (2025)
- Taxes less subsidies on products 6.82 billion current US$ (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Nigeria?
- Gross domestic product (gdp) in Nigeria was 1.07 trillion international-$ in 2021 prices in 2023, according to Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Nigeria?
- The highest recorded value was 1.20 trillion international-$ in 2021 prices in 2020.
- What is the lowest gross domestic product (gdp) recorded in Nigeria?
- The lowest recorded value was 63.14 billion international-$ in 2021 prices in 1950.
- How does Nigeria rank for gross domestic product (gdp)?
- Nigeria ranks 30th out of 184 countries with data for 2023.
- Is gross domestic product (gdp) rising or falling in Nigeria?
- Over the last ten years it is down 0.8%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Total economic output of a country or region per year. This data is adjusted for inflation and differences in living costs between countries.