Economy of Nigeria - Data

Data

GDP: purchasing power parity – $459.4 billion (2009 est.)

GDP – real growth rate: 7% (July 2006 est.)

GDP – per capita: purchasing power parity – $3,460 (2009 est.)

GDP – composition by sector:
agriculture: 26.8%
industry: 48.8%
services: 24.4% (2005 est.)

Population below poverty line: 54.98%(2009 est.)

Household income or consumption by percentage share:r
lowest 10%: 2.6%
highest 10%: 35.8% (1996–97)

Inflation rate (consumer prices): 12.3% (2011 est.)

Labor force: 57.21 million

Labor force – by occupation: agriculture 70%, industry 10%, services 20% (1999 est.)

Unemployment rate: 24% NA (2010 est.)

Budget:
revenues: $17 billion
expenditures: $13.54 billion including capital expenditures of $NA (2005 est.)

Industries: crude oil, coal, tin, columbite, palm oil, peanuts, cotton, rubber, wood, hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel, small commercial ship construction and repair

Industrial production growth rate: 4.7% (2010 est.)

Electricity – production: 15.59 billion kWh (2003)

Electricity – production by source:
fossil fuel: 61.69%
hydro: 38.31%
nuclear: 0%
other: <.1% (1998)

Electricity - consumption: 14.46 billion kWh (2003)

Electricity - exports: 40 million kWh (2003)

Electricity - imports: 0 kWh (1998)

Oil - production: 2.35 million barrels per day (374×10^3 m3/d) (July 2006 est.)

Oil - consumption: 310,000 bbl/d (49,000 m3/d) (2003 est.)

Agriculture – products: cocoa, peanuts, palm oil, maize, rice, sorghum, millet, cassava (tapioca), yams, rubber; cattle, sheep, goats, pigs; timber; fish

Exports: $72.16 billion f.o.b. (2005 est.)

Exports – commodities: petroleum and petroleum products 95%, cocoa, rubber

Exports – partners: United States 47.4%, Brazil 10.7%, Spain 7.1%(2004)

Imports: $45.95 billion f.o.b. (2005 est.)

Imports – commodities: machinery, chemicals, transport equipment, manufactured goods, food and live animals

Imports – partners: the People's Republic of China 9.4%, United States 8.4%, United Kingdom 7.8%, Netherlands 5.9%, France 5.4%, Germany 4.8%, Italy 4% (2004)

Debt – external: $3.3 billion with London Club(2006 est.)

Economic aid – recipient: IMF $250 million (1998)

Currency: 1 Naira (NGN) = 100 kobo

Exchange rates: Naira (NGN) per US$1 – 149.5 (2009), 120 (2006), 128 (2005), 132.89 (2004), 129.22 (2003), 120.58 (2002), 111.23 (2001)

External Reserves: $59 billion ( 2008)

Fiscal year: calendar year 2009