Gross Domestic Product — Value US$ in Nigeria
Nigeria: Gross Domestic Product — Value US$ was 187,627 million USD in 2024. ◆ Volatile
Gross Domestic Product — Value US$ in Nigeria, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
In 2024, gross domestic product — value us$ in Nigeria stood at 187,627 million USD.
That represents a change of down 50.0% on the previous year and down 67.4% over ten years.
Over the whole period, gross domestic product — value us$ in Nigeria peaked at 575,395 million USD in 2014 and was at its lowest, 29,388 million USD, in 1970.
That places Nigeria 66th out of 236 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value US$ in Nigeria, year by year
| Year | million USD | Change |
|---|---|---|
| 1970 | 29,388 million USD | — |
| 1971 | 34,092 million USD | +16.0% |
| 1972 | 41,459 million USD | +21.6% |
| 1973 | 47,634 million USD | +14.9% |
| 1974 | 77,129 million USD | +61.9% |
| 1975 | 98,080 million USD | +27.2% |
| 1976 | 119,638 million USD | +22.0% |
| 1977 | 139,210 million USD | +16.4% |
| 1978 | 155,340 million USD | +11.6% |
| 1979 | 187,977 million USD | +21.0% |
| 1980 | 243,851 million USD | +29.7% |
| 1981 | 225,528 million USD | -7.5% |
| 1982 | 221,321 million USD | -1.9% |
| 1983 | 219,144 million USD | -1.0% |
| 1984 | 216,371 million USD | -1.3% |
| 1985 | 210,154 million USD | -2.9% |
| 1986 | 112,921 million USD | -46.3% |
| 1987 | 60,926 million USD | -46.0% |
| 1988 | 69,565 million USD | +14.2% |
| 1989 | 56,331 million USD | -19.0% |
| 1990 | 61,536 million USD | +9.2% |
| 1991 | 59,545 million USD | -3.2% |
| 1992 | 52,376 million USD | -12.0% |
| 1993 | 56,975 million USD | +8.8% |
| 1994 | 49,500 million USD | -13.1% |
| 1995 | 50,502 million USD | +2.0% |
| 1996 | 53,584 million USD | +6.1% |
| 1997 | 56,109 million USD | +4.7% |
| 1998 | 58,204 million USD | +3.7% |
| 1999 | 59,373 million USD | +2.0% |
| 2000 | 69,449 million USD | +17.0% |
| 2001 | 74,030 million USD | +6.6% |
| 2002 | 95,386 million USD | +28.8% |
| 2003 | 104,912 million USD | +10.0% |
| 2004 | 136,386 million USD | +30.0% |
| 2005 | 176,134 million USD | +29.1% |
| 2006 | 236,104 million USD | +34.0% |
| 2007 | 275,625 million USD | +16.7% |
| 2008 | 336,977 million USD | +22.3% |
| 2009 | 291,923 million USD | -13.4% |
| 2010 | 374,766 million USD | +28.4% |
| 2011 | 418,856 million USD | +11.8% |
| 2012 | 466,573 million USD | +11.4% |
| 2013 | 520,797 million USD | +11.6% |
| 2014 | 575,395 million USD | +10.5% |
| 2015 | 499,950 million USD | -13.1% |
| 2016 | 404,648 million USD | -19.1% |
| 2017 | 375,745 million USD | -7.1% |
| 2018 | 421,738 million USD | +12.2% |
| 2019 | 474,516 million USD | +12.5% |
| 2020 | 429,898 million USD | -9.4% |
| 2021 | 438,926 million USD | +2.1% |
| 2022 | 475,058 million USD | +8.2% |
| 2023 | 374,984 million USD | -21.1% |
| 2024 | 187,627 million USD | -50.0% |
Nigeria compared with similar countries
- Nigeria's 187,627 million USD is above the median for lower middle income countries, which is 26,175 million USD, 7.2× the median. (44 countries reporting)
- Nigeria's 187,627 million USD is above the median for Sub-Saharan Africa, which is 17,421 million USD, 10.8× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 92,995 million USD | 29,388 million USD | 187,977 million USD | 10 |
| 1980s | 163,611 million USD | 56,331 million USD | 243,851 million USD | 10 |
| 1990s | 55,770 million USD | 49,500 million USD | 61,536 million USD | 10 |
| 2000s | 179,693 million USD | 69,449 million USD | 336,977 million USD | 10 |
| 2010s | 453,298 million USD | 374,766 million USD | 575,395 million USD | 10 |
| 2020s | 381,299 million USD | 187,627 million USD | 475,058 million USD | 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)
- 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)
- IMF holdings of currency, US dollar, per unit of GDP 0.0107 units per US$ of GDP (2025)
Frequently asked questions
- What is gross domestic product — value us$ in Nigeria?
- Gross domestic product — value us$ in Nigeria was 187,627 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value us$ recorded in Nigeria?
- The highest recorded value was 575,395 million USD in 2014.
- What is the lowest gross domestic product — value us$ recorded in Nigeria?
- The lowest recorded value was 29,388 million USD in 1970.
- How does Nigeria rank for gross domestic product — value us$?
- Nigeria ranks 66th out of 236 countries with data for 2024.
- Is gross domestic product — value us$ rising or falling in Nigeria?
- Over the last ten years it is down 67.4%. 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 — Value US$. Statizoid updates them automatically from the source API.
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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).