Nigeria Forecast: Real GDP Growth

1991 - 2027 | Yearly | % | International Monetary Fund

Key information about Nigeria Forecast: Real GDP Growth

  • Nigeria Real GDP Growth is forecasted to be 3.200 % in Dec 2023 as reported by International Monetary Fund.
  • It records a decrease from the last reported number of 3.000 % in Dec 2022.
  • Looking ahead, Nigeria Real GDP Growth is projected to stand at 2.904 % in Dec 2027.
  • The data is updated yearly and is categorized in CEIC under World Trend Plus’s Country Forecast – Table IMF.WEO: Gross Domestic Product: Constant Prices: YoY.

View Nigeria's Forecast: Real GDP Growth from 1991 to 2027 in the chart:

Nigeria Forecast: Real GDP Growth

What is Nigeria's Forecast: Real GDP Growth in 2027?

Nigeria Real GDP Growth is forecasted to be 3.200 % in Dec 2023 as reported by International Monetary Fund. See the table below for more data.

Last Previous Min Max Unit Frequency Range
2.904 2027 2.919 2026 -1.794 2020 14.604 2002 % yearly 1991 - 2027

Forecast: Real GDP Growth by Country Comparison

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country/region Last Frequency Range
Afghanistan (%) -20.737 2021 yearly 2003 - 2021
Albania (%) 3.400 2028 yearly 1980 - 2028
Algeria (%) 1.782 2028 yearly 1980 - 2028
Andorra (%) 1.500 2028 yearly 2001 - 2028
Angola (%) 4.230 2028 yearly 1980 - 2028
Antigua and Barbuda (%) 2.685 2027 yearly 1980 - 2027
Argentina (%) 2.000 2027 yearly 1980 - 2027
Armenia (%) 4.500 2028 yearly 1993 - 2028
Aruba (%) 1.100 2028 yearly 1987 - 2028
Australia (%) 2.279 2027 yearly 1980 - 2027
Austria (%) 1.527 2028 yearly 1980 - 2028
Azerbaijan (%) 2.572 2028 yearly 1993 - 2028
Bahamas (%) 1.496 2027 yearly 1980 - 2027
Bahrain (%) 2.733 2028 yearly 1980 - 2028
Bangladesh (%) 9.531 2021 yearly 1980 - 2021
Barbados (%) 1.840 2027 yearly 1980 - 2027
Belarus (%) 0.741 2028 yearly 1993 - 2028
Belgium (%) 1.289 2028 yearly 1980 - 2028
Belize (%) 2.012 2027 yearly 1980 - 2027
Benin (%) 5.934 2028 yearly 1980 - 2028
Bhutan (%) 3.625 2028 yearly 1980 - 2028
Bolivia (%) 3.400 2027 yearly 1980 - 2027
Bosnia and Herzegovina (%) 3.000 2028 yearly 1997 - 2028
Botswana (%) 3.957 2028 yearly 1980 - 2028
Brazil (%) 2.015 2028 yearly 1980 - 2028
Brunei (%) 2.112 2027 yearly 1986 - 2027
Bulgaria (%) 2.840 2028 yearly 1980 - 2028
Burkina Faso (%) 5.258 2027 yearly 1980 - 2027
Burundi (%) 4.565 2027 yearly 1980 - 2027
Cambodia (%) 6.500 2027 yearly 1988 - 2027
Cameroon (%) 4.898 2027 yearly 1980 - 2027
Canada (%) 1.662 2028 yearly 1980 - 2028
Cape Verde (%) 4.498 2027 yearly 1980 - 2027
Central African Republic (%) 3.347 2028 yearly 1980 - 2028
Chad (%) 3.508 2027 yearly 1980 - 2027
Chile (%) 2.459 2027 yearly 1980 - 2027
China (%) 3.437 2028 yearly 1980 - 2028
Colombia (%) 3.345 2028 yearly 1980 - 2028
Comoros (%) 4.342 2027 yearly 1980 - 2027
Congo (%) 3.980 2028 yearly 1980 - 2028
Costa Rica (%) 3.243 2027 yearly 1980 - 2027
Croatia (%) 2.800 2028 yearly 1993 - 2028
Cyprus (%) 2.899 2028 yearly 1980 - 2028
Czech Republic (%) 2.501 2027 yearly 1996 - 2027
Democratic Republic of Congo (%) 6.482 2028 yearly 1980 - 2028
Denmark (%) 1.800 2027 yearly 1980 - 2027
Djibouti (%) 5.000 2028 yearly 1992 - 2028
Dominica (%) 2.685 2028 yearly 1980 - 2028
Dominican Republic (%) 4.985 2028 yearly 1980 - 2028
Ecuador (%) 2.751 2028 yearly 1980 - 2028
Egypt (%) 5.984 2028 yearly 1980 - 2028
El Salvador (%) 1.965 2027 yearly 1980 - 2027
Equatorial Guinea (%) -0.981 2027 yearly 1980 - 2027
Eritrea (%) 2.925 2028 yearly 1993 - 2028
Estonia (%) 3.300 2027 yearly 1994 - 2027
Swaziland (%) 2.278 2027 yearly 1980 - 2027
Ethiopia (%) 6.953 2028 yearly 1980 - 2028
Fiji (%) 3.459 2028 yearly 1980 - 2028
Finland (%) 1.624 2028 yearly 1980 - 2028
France (%) 1.450 2028 yearly 1980 - 2028
Gabon (%) 3.809 2027 yearly 1981 - 2027
Gambia (%) 5.000 2027 yearly 1980 - 2027
Georgia (%) 5.198 2028 yearly 1995 - 2028
Germany (%) 1.134 2028 yearly 1980 - 2028
Ghana (%) 6.774 2027 yearly 1980 - 2027
Greece (%) 1.355 2027 yearly 1980 - 2027
Grenada (%) 2.849 2027 yearly 1980 - 2027
Guatemala (%) 3.900 2028 yearly 1980 - 2028
Guinea (%) 5.187 2027 yearly 1980 - 2027
Guinea-Bissau (%) 5.000 2027 yearly 1981 - 2027
Guyana (%) 3.320 2027 yearly 1980 - 2027
Haiti (%) 1.500 2027 yearly 1980 - 2027
Honduras (%) 3.940 2027 yearly 1980 - 2027
Hong Kong SAR, China (%) 2.849 2027 yearly 1980 - 2027
Hungary (%) 3.150 2027 yearly 1980 - 2027
Iceland (%) 2.379 2028 yearly 1980 - 2028
India (%) 6.042 2029 yearly 1981 - 2029
Indonesia (%) 5.117 2027 yearly 1980 - 2027
Iran (%) 2.047 2029 yearly 1981 - 2029
Iraq (%) 2.625 2027 yearly 1999 - 2027
Ireland (%) 3.010 2027 yearly 1980 - 2027
Israel (%) 3.499 2027 yearly 1980 - 2027
Italy (%) 0.882 2028 yearly 1980 - 2028
Ivory Coast (%) 6.000 2028 yearly 1980 - 2028
Jamaica (%) 1.600 2027 yearly 1980 - 2027
Japan (%) 0.409 2028 yearly 1980 - 2028
Jordan (%) 3.300 2027 yearly 1980 - 2027
Kazakhstan (%) 2.778 2028 yearly 1993 - 2028
Kenya (%) 5.516 2027 yearly 1980 - 2027
Kiribati (%) 1.971 2027 yearly 1980 - 2027
South Korea (%) 2.340 2027 yearly 1980 - 2027
Kosovo (%) 3.800 2028 yearly 2001 - 2028
Kuwait (%) 2.655 2027 yearly 1980 - 2027
Kyrgyzstan (%) 3.977 2028 yearly 1993 - 2028
Laos (%) 4.496 2028 yearly 1980 - 2028
Latvia (%) 3.377 2027 yearly 1993 - 2027
Lebanon (%) -22.000 2020 yearly 1980 - 2020
Lesotho (%) 1.599 2029 yearly 1981 - 2029
Liberia (%) 5.680 2027 yearly 2001 - 2027
Libya (%) 3.588 2027 yearly 1980 - 2027

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Nigeria Key Series

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Includes 202 key indicators for Nigeria, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.8 Sep 2023 quarterly Dec 2010 - Sep 2023
Consolidated Fiscal Balance (USD mn) -3,071.175 Sep 2023 quarterly Mar 2005 - Sep 2023
National Government Debt (USD mn) 101,710.7 Dec 2023 quarterly Dec 2006 - Dec 2023
Government Debt: % of GDP (%) 39.8 Dec 2023 quarterly Dec 2010 - Dec 2023
Forecast: Government Expenditure (NGN bn) 69,308.370 2028 yearly 1990 - 2028
Forecast: Government Net Debt (NGN bn) 205,772.040 2028 yearly 1990 - 2028
Forecast: Government Revenue (NGN bn) 42,354.640 2028 yearly 1990 - 2028
Federal Govt Balance (NGN bn) -2,347.160 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Capital (NGN bn) 1,043.310 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Recurrent (NGN bn) 2,791.110 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue: Oil (NGN bn) 814.230 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue (NGN bn) 4,791.390 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Revenue (NGN bn) 1,693.020 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure (NGN bn) 4,040.180 Sep 2023 quarterly Mar 2005 - Sep 2023
Government Debt: Domestic (NGN bn) 53,258.012 Dec 2023 quarterly Dec 2005 - Dec 2023
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,889.4 Sep 2023 monthly Jan 2003 - Sep 2023
Total Exports (USD mn) 4,751.7 Dec 2023 monthly Jan 2003 - Dec 2023
Total Exports Growth (%) 82.1 Dec 2023 monthly Jan 2004 - Dec 2023
Aluminum: Exports (USD th) 165,856.846 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 2,876.353 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 480.530 2022 yearly 1995 - 2022
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 34.5 Sep 2023 monthly Jan 2004 - Sep 2023
Imports: Medicament (USD th) 755,360.705 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 508,406.689 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 332.105 Dec 2023 monthly Jan 2003 - Dec 2023
Total Imports from USA (USD mn) 176.789 Dec 2023 monthly Dec 2009 - Dec 2023
Total Exports to China (USD mn) 24.772 Sep 2023 monthly Jan 2007 - Sep 2023
Total Imports from China (USD mn) 715.679 Sep 2023 monthly Jan 2007 - Sep 2023
Imports (NGN mn) 2,429,185.197 Sep 2023 monthly Jan 2003 - Sep 2023
Exports: Crude Oil (NGN mn) 3,404,818.113 Dec 2023 monthly Jan 2003 - Dec 2023
Total Trade (NGN mn) 6,865,948.584 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow Netherlands (NGN mn) 523,568.988 Dec 2023 monthly Jan 2003 - Dec 2023
Exports (NGN mn) 4,284,566.609 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: America: ow USA (NGN mn) 299,453.208 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow UK (NGN mn) 93,037.938 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Mineral Products (NGN mn) 24,389,951.388 2022 yearly 2003 - 2022
Exports: Vegetable Products (NGN mn) 316,546.604 2022 yearly 2003 - 2022
Imports: Europe: ow Netherlands (NGN mn) 158,090.619 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Asia: ow China (NGN mn) 631,502.155 Dec 2023 monthly Jan 2007 - Dec 2023
Imports: America: ow USA (NGN mn) 159,407.643 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Europe: ow Germany (NGN mn) 68,742.651 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Europe: ow UK (NGN mn) 71,966.938 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Chemicals and Chemical Products (NGN mn) 385,751.608 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Food and Live Animals (NGN mn) 364,417.505 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Manufactured Goods (NGN mn) 184,959.341 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 810,486.908 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Machinery and Transport Equipment (NGN mn) 639,703.694 Sep 2023 monthly Jan 2003 - Sep 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 274.7 Dec 2022 quarterly Mar 2008 - Dec 2022
Current Account Balance (USD mn) 2,348.3 Dec 2022 quarterly Mar 2008 - Dec 2022
Current Account Balance: % of GDP (%) 1.8 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Direct Investment (USD mn) 752.7 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Direct Investment: % of GDP (%) 0.6 Dec 2022 quarterly Mar 2010 - Dec 2022
Foreign Portfolio Investment (USD mn) 337.399 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Portfolio Investment: % of GDP (%) 0.3 Dec 2022 quarterly Mar 2010 - Dec 2022
Foreign Portfolio Investment: Equity Securities (USD mn) -2.3 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Portfolio Investment: Debt Securities (USD mn) 339.714 Dec 2022 quarterly Mar 2008 - Dec 2022
External Debt (USD mn) 42,495.2 Dec 2023 quarterly Dec 2006 - Dec 2023
External Debt: % of GDP (%) 11.9 2023 yearly 1985 - 2023
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) 0.890 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) -80,930.532 2022 yearly 2005 - 2022
BoP: CA: Current Transfers (USD mn) 5,442.967 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Direct Investment (USD mn) 94.452 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Liabilities: Portfolio Investment (USD mn) 1,000.946 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Capital Account (USD mn) 0.000 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Portfolio Investment (USD mn) -182.419 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Reserves Assets (USD mn) 1,437.945 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Other Investment (USD mn) -1,699.632 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods (USD mn) 2,798.047 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income (USD mn) -2,264.294 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Assets (USD mn) -1,085.664 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods: Debit (USD mn) -11,787.111 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income: Debit (USD mn) -2,775.122 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers: Credit (USD mn) 5,452.430 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Liabilities: Other Investment (USD mn) 848.311 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services: Debit (USD mn) -4,428.113 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: Net Errors & Omission (USD mn) -3,201.073 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services (USD mn) -3,132.845 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers: Debit (USD mn) -505.024 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income: Credit (USD mn) 510.828 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods: Credit (USD mn) 14,585.159 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Liabilities (USD mn) 1,938.423 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account (USD mn) 852.759 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services: Credit (USD mn) 1,295.268 Dec 2022 quarterly Mar 2008 - Dec 2022
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government: International Capital Market (USD mn) 15,118.350 Dec 2023 quarterly Mar 2011 - Dec 2023
External Debt: Government (USD mn) 42,495.160 Dec 2023 quarterly Dec 2006 - Dec 2023
Capital Inflow: Foreign Direct Investment (USD) 20,080,525.860 Nov 2022 monthly Jan 2007 - Nov 2022
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 19,608.589 Feb 2024 monthly Nov 1992 - Feb 2024
Money Supply M2 (USD mn) 60,857.230 Feb 2024 monthly Nov 1992 - Feb 2024
M2 Growth (%) 77.6 Feb 2024 monthly Nov 1993 - Feb 2024
Reserve Requirement Ratio (%) 45.0 Mar 2024 monthly Nov 2005 - Mar 2024
Foreign Exchange Reserves (USD mn) 32,360.0 Nov 2023 monthly Jan 1960 - Nov 2023
Foreign Exchange Reserves: % of GDP (%) 7.771 Sep 2023 quarterly Dec 2010 - Sep 2023
Foreign Exchange Reserves: Months of Import (NA) 8.9 Nov 2023 monthly Jan 2003 - Nov 2023
Gold Reserves (USD mn) 1,273.284 Sep 2023 monthly Dec 1950 - Sep 2023
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 74,341.2 Feb 2024 monthly Nov 1992 - Feb 2024
Domestic Credit Growth (%) 63.6 Feb 2024 monthly Nov 1993 - Feb 2024
Private Debt: % of Nominal GDP (%) 16.22 Sep 2023 quarterly Dec 2010 - Sep 2023
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 63,691,242.700 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 30,277,249.260 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: Base Money (NGN mn) 21,230,656.700 Feb 2024 monthly Jan 1993 - Feb 2024
Monetary Survey: Liabilities: M2 (NGN mn) 93,968,491.960 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.210 Dec 2022 semiannually Dec 2003 - Dec 2022
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -0.6 Nov 2023 monthly Jul 2015 - Nov 2023

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