Gross domestic product (GDP) in Nigeria
Nigeria: Gross domestic product (GDP) was 1.07 trillion international-$ in 2021 prices in 2023. ◆ Volatile
Latest (2023)
1.07 trillion international-$ in 2021 prices
Change on year
down 1.0%
World rank
30th
of 184 countries
All-time high
1.20 trillion international-$ in 2021 prices
in 2020
All-time low
63.14 billion international-$ in 2021 prices
in 1950
Years of data
58
1950–2023
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.
Gross domestic product (GDP) in Nigeria, year by year
| Year | international-$ in 2021 prices | Change |
|---|---|---|
| 1950 | 63.14 billion international-$ in 2021 prices | — |
| 1951 | 63.37 billion international-$ in 2021 prices | +0.4% |
| 1952 | 63.66 billion international-$ in 2021 prices | +0.5% |
| 1953 | 66.60 billion international-$ in 2021 prices | +4.6% |
| 1954 | 74.03 billion international-$ in 2021 prices | +11.2% |
| 1955 | 72.29 billion international-$ in 2021 prices | -2.4% |
| 1956 | 69.43 billion international-$ in 2021 prices | -4.0% |
| 1957 | 68.52 billion international-$ in 2021 prices | -1.3% |
| 1958 | 72.67 billion international-$ in 2021 prices | +6.0% |
| 1959 | 80.27 billion international-$ in 2021 prices | +10.5% |
| 1960 | 91.23 billion international-$ in 2021 prices | +13.6% |
| 1961 | 95.96 billion international-$ in 2021 prices | +5.2% |
| 1962 | 101.28 billion international-$ in 2021 prices | +5.5% |
| 1963 | 106.84 billion international-$ in 2021 prices | +5.5% |
| 1964 | 106.73 billion international-$ in 2021 prices | -0.1% |
| 1965 | 120.25 billion international-$ in 2021 prices | +12.7% |
| 1966 | 120.87 billion international-$ in 2021 prices | +0.5% |
| 1967 | 104.66 billion international-$ in 2021 prices | -13.4% |
| 1968 | 105.02 billion international-$ in 2021 prices | +0.3% |
| 1969 | 130.25 billion international-$ in 2021 prices | +24.0% |
| 1970 | 175.97 billion international-$ in 2021 prices | +35.1% |
| 1971 | 194.90 billion international-$ in 2021 prices | +10.8% |
| 1972 | 208.51 billion international-$ in 2021 prices | +7.0% |
| 1973 | 248.60 billion international-$ in 2021 prices | +19.2% |
| 1974 | 272.57 billion international-$ in 2021 prices | +9.6% |
| 1975 | 276.92 billion international-$ in 2021 prices | +1.6% |
| 1976 | 291.42 billion international-$ in 2021 prices | +5.2% |
| 1977 | 324.68 billion international-$ in 2021 prices | +11.4% |
| 1978 | 337.78 billion international-$ in 2021 prices | +4.0% |
| 1979 | 352.48 billion international-$ in 2021 prices | +4.4% |
| 1980 | 380.44 billion international-$ in 2021 prices | +7.9% |
| 1981 | 370.37 billion international-$ in 2021 prices | -2.6% |
| 1982 | 331.59 billion international-$ in 2021 prices | -10.5% |
| 1999 | 92.24 billion international-$ in 2021 prices | -72.2% |
| 2000 | 125.80 billion international-$ in 2021 prices | +36.4% |
| 2001 | 137.12 billion international-$ in 2021 prices | +9.0% |
| 2002 | 177.83 billion international-$ in 2021 prices | +29.7% |
| 2003 | 237.57 billion international-$ in 2021 prices | +33.6% |
| 2004 | 321.28 billion international-$ in 2021 prices | +35.2% |
| 2005 | 528.67 billion international-$ in 2021 prices | +64.6% |
| 2006 | 621.11 billion international-$ in 2021 prices | +17.5% |
| 2007 | 689.97 billion international-$ in 2021 prices | +11.1% |
| 2008 | 715.07 billion international-$ in 2021 prices | +3.6% |
| 2009 | 761.40 billion international-$ in 2021 prices | +6.5% |
| 2010 | 909.02 billion international-$ in 2021 prices | +19.4% |
| 2011 | 962.11 billion international-$ in 2021 prices | +5.8% |
| 2012 | 1.01 trillion international-$ in 2021 prices | +4.6% |
| 2013 | 1.08 trillion international-$ in 2021 prices | +7.6% |
| 2014 | 1.16 trillion international-$ in 2021 prices | +7.0% |
| 2015 | 1.16 trillion international-$ in 2021 prices | +0.3% |
| 2016 | 1.13 trillion international-$ in 2021 prices | -3.1% |
| 2017 | 1.10 trillion international-$ in 2021 prices | -2.3% |
| 2018 | 1.12 trillion international-$ in 2021 prices | +1.5% |
| 2019 | 1.20 trillion international-$ in 2021 prices | +7.2% |
| 2020 | 1.20 trillion international-$ in 2021 prices | +0.5% |
| 2021 | 1.11 trillion international-$ in 2021 prices | -7.3% |
| 2022 | 1.08 trillion international-$ in 2021 prices | -2.6% |
| 2023 | 1.07 trillion international-$ in 2021 prices | -1.0% |
Nigeria compared with similar countries
- Nigeria's 1.07 trillion international-$ in 2021 prices is above the median for lower middle income countries, which is 72.56 billion international-$ in 2021 prices, 14.8× the median. (42 countries reporting)
- Nigeria's 1.07 trillion international-$ in 2021 prices is above the median for Sub-Saharan Africa, which is 45.59 billion international-$ in 2021 prices, 23.5× the median. (47 countries reporting)
Biggest year-on-year movements
Years where Gross domestic product (GDP) 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 |
|---|---|---|---|
| 1999 | -72.2% | 331.59 billion international-$ in 2021 prices | 92.24 billion international-$ in 2021 prices |
| 2005 | +64.6% | 321.28 billion international-$ in 2021 prices | 528.67 billion international-$ in 2021 prices |
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
- 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$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Nigeria?
- Gross domestic product (gdp) in Nigeria was 1.07 trillion international-$ 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.
Download this data
CSV · JSON — 58 observations, free to reuse under CC BY 4.0 (Our World in Data).
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.