Nigeria 2023
Detailed economic analysis and indicators for 2023
Key Economic Indicators (2023)
GDP (Current USD)
$363.85 billion
↓ 23.79% vs 2022GDP per Capita
$1,596.64
↓ 25.37% vs 2022GDP Growth (Annual %)
2.86%
↓ 0.39pp vs 2022Inflation Rate (CPI %)
24.66%
↑ 5.81pp vs 2022Year-over-Year Comparison
| Indicator | 2022 | 2023 | Change |
|---|---|---|---|
| GDP (Current USD) | $477.40 billion | $363.85 billion | -23.79% |
| GDP per Capita | $2,139.37 | $1,596.64 | -25.37% |
| GDP Growth (Annual %) | 3.25% | 2.86% | -0.39pp |
| Inflation (CPI %) | 18.85% | 24.66% | +5.81pp |
| Unemployment Rate (%) | 3.82% | 3.07% | -0.75pp |
All Economic Indicators (2023)
National Accounts
- GDP (Current USD)
- $363.85 billion
- GDP per Capita
- $1,596.64
- GDP Growth (Annual %)
- 2.86%
- Gross National Income
- $352.91 billion
Prices & Employment
- Inflation (CPI %)
- 24.66%
- Inflation (GDP Deflator %)
- 12.62%
- Unemployment Rate (%)
- 3.07%
- Interest Rate (Real %)
- 1.23%
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)
- 1.66%
- Government Debt (% GDP)
- N/A
- Data Last Updated
- 2025-10-23
Frequently Asked Questions
As of 2023, Nigeria's Gross Domestic Product (GDP) is $363.85 billion. This represents the total value of goods and services produced in the country.
The GDP per capita in Nigeria for 2023 is $1,596.64. GDP per capita is calculated by dividing the country's GDP by its population.
The Consumer Price Index (CPI) inflation rate in Nigeria for 2023 is 24.66%. This measures the annual percentage change in the cost of consumer goods and services.
Nigeria's annual GDP growth rate for 2023 is 2.86%. This indicates the rate at which the country's economy is expanding or contracting.
The unemployment rate in Nigeria for 2023 is 3.07%. This represents the percentage of the labor force that is unemployed and actively seeking employment.