Gross Domestic Product — Annual growth US$ in Nigeria
Nigeria: Gross Domestic Product — Annual growth US$ was -49.96 % in 2024. ◆ Volatile
Gross Domestic Product — Annual growth US$ in Nigeria, 1971–2024
Source: Food and Agriculture Organization of the United Nations. Measured in %.
Analysis
In 2024, gross domestic product — annual growth us$ in Nigeria stood at -49.96 %. That is the lowest value across all 54 years on record.
That represents a change of down 137.2% on the previous year and down 576.6% over ten years.
Over the whole period, gross domestic product — annual growth us$ in Nigeria peaked at 61.92 % in 1974 and was at its lowest, -49.96 %, in 2024.
Nigeria ranks 203rd of 203 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Annual growth US$ in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 1971 | 16.01 % | — |
| 1972 | 21.61 % | +35.0% |
| 1973 | 14.89 % | -31.1% |
| 1974 | 61.92 % | +315.7% |
| 1975 | 27.16 % | -56.1% |
| 1976 | 21.98 % | -19.1% |
| 1977 | 16.36 % | -25.6% |
| 1978 | 11.59 % | -29.2% |
| 1979 | 21.01 % | +81.3% |
| 1980 | 29.72 % | +41.5% |
| 1981 | -7.51 % | -125.3% |
| 1982 | -1.87 % | -75.2% |
| 1983 | -0.9836 % | -47.3% |
| 1984 | -1.27 % | +28.7% |
| 1985 | -2.87 % | +127.0% |
| 1986 | -46.27 % | +1510.4% |
| 1987 | -46.05 % | -0.5% |
| 1988 | 14.18 % | -130.8% |
| 1989 | -19.02 % | -234.2% |
| 1990 | 9.24 % | -148.6% |
| 1991 | -3.24 % | -135.0% |
| 1992 | -12.04 % | +272.1% |
| 1993 | 8.78 % | -172.9% |
| 1994 | -13.12 % | -249.4% |
| 1995 | 2.02 % | -115.4% |
| 1996 | 6.1 % | +201.8% |
| 1997 | 4.71 % | -22.8% |
| 1998 | 3.73 % | -20.8% |
| 1999 | 2.01 % | -46.2% |
| 2000 | 16.97 % | +745.4% |
| 2001 | 6.6 % | -61.1% |
| 2002 | 28.85 % | +337.3% |
| 2003 | 9.99 % | -65.4% |
| 2004 | 30 % | +200.4% |
| 2005 | 29.14 % | -2.9% |
| 2006 | 34.05 % | +16.8% |
| 2007 | 16.74 % | -50.8% |
| 2008 | 22.26 % | +33.0% |
| 2009 | -13.37 % | -160.1% |
| 2010 | 28.38 % | -312.3% |
| 2011 | 11.76 % | -58.5% |
| 2012 | 11.39 % | -3.2% |
| 2013 | 11.62 % | +2.0% |
| 2014 | 10.48 % | -9.8% |
| 2015 | -13.11 % | -225.1% |
| 2016 | -19.06 % | +45.4% |
| 2017 | -7.14 % | -62.5% |
| 2018 | 12.24 % | -271.4% |
| 2019 | 12.51 % | +2.2% |
| 2020 | -9.4 % | -175.1% |
| 2021 | 2.1 % | -122.3% |
| 2022 | 8.23 % | +292.0% |
| 2023 | -21.07 % | -355.9% |
| 2024 | -49.96 % | +137.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 23.61 % | 11.59 % | 61.92 % | 9 |
| 1980s | -8.19 % | -46.27 % | 29.72 % | 10 |
| 1990s | 0.8207 % | -13.12 % | 9.24 % | 10 |
| 2000s | 18.12 % | -13.37 % | 34.05 % | 10 |
| 2010s | 5.91 % | -19.06 % | 28.38 % | 10 |
| 2020s | -14.02 % | -49.96 % | 8.23 % | 5 |
Countries ranked near Nigeria
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)
- Industry (including construction), value added (constant 2015 US$) 4.57 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.2863 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 350.54 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual 4.57 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 127.87 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 156,550 constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 24.94 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.5823 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is gross domestic product — annual growth us$ in Nigeria?
- Gross domestic product — annual growth us$ in Nigeria was -49.96 % in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — annual growth us$ recorded in Nigeria?
- The highest recorded value was 61.92 % in 1974.
- What is the lowest gross domestic product — annual growth us$ recorded in Nigeria?
- The lowest recorded value was -49.96 % in 2024.
- How does Nigeria rank for gross domestic product — annual growth us$?
- Nigeria ranks 203rd out of 203 countries with data for 2024.
- Is gross domestic product — annual growth us$ rising or falling in Nigeria?
- Over the last ten years it is down 576.6%. 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 Gross Domestic Product — Annual growth US$. Statizoid updates them automatically from the source API.
Download this data
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).