Nigeria 2020
Detailed economic analysis and indicators for 2020
Key Economic Indicators (2020)
GDP (Current USD)
$432.20 billion
↓ 8.92% vs 2019GDP per Capita
$2,019.66
↓ 10.84% vs 2019GDP Growth (Annual %)
-1.79%
↓ 4.00pp vs 2019Inflation Rate (CPI %)
13.25%
↑ 1.85pp vs 2019Year-over-Year Comparison
| Indicator | 2019 | 2020 | Change |
|---|---|---|---|
| GDP (Current USD) | $474.52 billion | $432.20 billion | -8.92% |
| GDP per Capita | $2,265.16 | $2,019.66 | -10.84% |
| GDP Growth (Annual %) | 2.21% | -1.79% | -4.00pp |
| Inflation (CPI %) | 11.40% | 13.25% | +1.85pp |
| Unemployment Rate (%) | 5.21% | 5.74% | +0.54pp |
All Economic Indicators (2020)
National Accounts
- GDP (Current USD)
- $432.20 billion
- GDP per Capita
- $2,019.66
- GDP Growth (Annual %)
- -1.79%
- Gross National Income
- $427.43 billion
Prices & Employment
- Inflation (CPI %)
- 13.25%
- Inflation (GDP Deflator %)
- 7.85%
- Unemployment Rate (%)
- 5.74%
- Interest Rate (Real %)
- 5.37%
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)
- -3.70%
- Government Debt (% GDP)
- N/A
- Data Last Updated
- 2025-10-23
Frequently Asked Questions
As of 2020, Nigeria's Gross Domestic Product (GDP) is $432.20 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Nigeria for 2020 is $2,019.66. GDP per capita is calculated by dividing the country's GDP by its population.
The Consumer Price Index (CPI) inflation rate in Nigeria for 2020 is 13.25%. This measures the annual percentage change in the cost of consumer goods and services.
Nigeria's annual GDP growth rate for 2020 is -1.79%. This indicates the rate at which the country's economy is expanding or contracting.
The unemployment rate in Nigeria for 2020 is 5.74%. This represents the percentage of the labor force that is unemployed and actively seeking employment.