Nigeria: GDP, constant dollars

* indicates monthly or quarterly data series
 Nigeria

Gross Domestic Product, billions of 2010 U.S. dollars

 Latest value 550.6
 Year 2023
 Measure billion U.S. dollars
 Data availability 1960 - 2023
 Average 223.9
 Min - Max 65.1 - 550.6
 Source The World Bank
The latest value from 2023 is 550.6 billion U.S. dollars, an increase from 535.3 billion U.S. dollars in 2022. In comparison, the world average is 510.3 billion U.S. dollars, based on data from 179 countries. Historically, the average for Nigeria from 1960 to 2023 is 223.9 billion U.S. dollars. The minimum value, 65.1 billion U.S. dollars, was reached in 1968 while the maximum of 550.6 billion U.S. dollars was recorded in 2023. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Nigeria - GDP, constant dollars - Recent values chart

Historical series
Nigeria - GDP, constant dollars - historical chart - 1960-2023




The GDP of Nigeria and other countries is a measure of the size of the economy. It is the total market value of all goods and services produced on the territory of a country during a period of time, for example, during one year. We show GDP in constant dollars. In other words, we present the production levels of different years but evaluated using the prices of only one year. The objective is to compare the level of production across years, holding constant any price changes.
Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2015 prices, expressed in U.S. dollars. Dollar figures for GDP are converted from domestic currencies using 2015 official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

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 Related indicators Latest Reference Measure
 Economic growth 2.86 2023 percent
 GDP, constant dollars 550.6 2023 billion U.S. dollars
 GDP, current U.S. dollars 362.81 2023 billion U.S. dollars
 GDP per capita, current dollars 1,621.12 2023 U.S. dollars
 GDP per capita, PPP 5,695 2023 U.S. dollars
 GDP per capita, constant dollars 2,460.39 2023 U.S. dollars
 Economic growth, quarterly 3.01 Q2/2024 percent
 Gross Domestic Product (GDP) 62,232.72 Q2/2024 billion
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