Nigeria 2016
Detailed economic analysis and indicators for 2016
Key Economic Indicators (2016)
GDP (Current USD)
$404.65 billion
↓ 17.93% vs 2015GDP per Capita
$2,070.41
↓ 19.93% vs 2015GDP Growth (Annual %)
-1.62%
↓ 4.27pp vs 2015Inflation Rate (CPI %)
15.70%
↑ 6.69pp vs 2015Year-over-Year Comparison
| Indicator | 2015 | 2016 | Change |
|---|---|---|---|
| GDP (Current USD) | $493.03 billion | $404.65 billion | -17.93% |
| GDP per Capita | $2,585.73 | $2,070.41 | -19.93% |
| GDP Growth (Annual %) | 2.65% | -1.62% | -4.27pp |
| Inflation (CPI %) | 9.01% | 15.70% | +6.69pp |
| Unemployment Rate (%) | 4.14% | 4.50% | +0.36pp |
All Economic Indicators (2016)
National Accounts
- GDP (Current USD)
- $404.65 billion
- GDP per Capita
- $2,070.41
- GDP Growth (Annual %)
- -1.62%
- Gross National Income
- $398.39 billion
Prices & Employment
- Inflation (CPI %)
- 15.70%
- Inflation (GDP Deflator %)
- 9.54%
- Unemployment Rate (%)
- 4.50%
- Interest Rate (Real %)
- 6.69%
Trade & Investment
- Exports (Goods & Services)
- N/A
- Imports (Goods & Services)
- N/A
- FDI Inflow
- N/A
- FDI Outflow
- N/A
Balance & Debt
- Current Account Balance (% GDP)
- 1.25%
- Government Debt (% GDP)
- N/A
- Data Last Updated
- 2025-10-23
Frequently Asked Questions
As of 2016, Nigeria's Gross Domestic Product (GDP) is $404.65 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Nigeria for 2016 is $2,070.41. GDP per capita is calculated by dividing the country's GDP by its population.
The Consumer Price Index (CPI) inflation rate in Nigeria for 2016 is 15.70%. This measures the annual percentage change in the cost of consumer goods and services.
Nigeria's annual GDP growth rate for 2016 is -1.62%. This indicates the rate at which the country's economy is expanding or contracting.
The unemployment rate in Nigeria for 2016 is 4.50%. This represents the percentage of the labor force that is unemployed and actively seeking employment.