Nigeria vs South Korea
Nigeria vs South Korea: Government debt
Government debt: 36.1% of GDP in Nigeria in 2025 and 49.6% of GDP in South Korea in 2024, by IMF estimates. In 2024 the value was higher in South Korea, by 10.2 percentage points, or 1.26 times that in Nigeria.
% of GDP · IMF
What the numbers say
- South Korea has been higher in every year both have figures for since 2012.
- The IMF projection (World Economic Outlook, October 2026) puts Nigeria at 31.9% of GDP and South Korea at 49.7% of GDP in 2031.
Every year
% of GDP · IMF
| Year | Nigeria | South Korea |
|---|---|---|
| 2025 | 36.1 | 52.4 |
| 2024 | 39.3 | 49.6 |
| 2023 | 36.3 | 50.6 |
| 2022 | 29.8 | 49.7 |
| 2021 | 26.6 | 48 |
| 2020 | 25.7 | 45.9 |
| 2019 | 21.4 | 39.7 |
| 2018 | 20.4 | 37.9 |
| 2017 | 18 | 38 |
| 2016 | 17.4 | 39.1 |
| 2015 | 14.9 | 38.8 |
| 2014 | 15.8 | 37.9 |
| 2013 | 13 | 36 |
| 2012 | 12.5 | 33.5 |
| 2011 | 12.4 | – |
| 2010 | 6.7 | – |
| 2009 | 6.1 | – |
| 2008 | 5.2 | – |
| 2007 | 5.8 | – |
| 2006 | 6.7 | – |
| 2005 | 13.5 | – |
| 2004 | 25.2 | – |
| 2003 | 29.9 | – |
| 2002 | 30.7 | – |
| 2001 | 37.7 | – |
| 2000 | 40.9 | – |
| 1999 | 46.1 | – |
| 1998 | 15.8 | – |
| 1997 | 17.1 | – |
| 1996 | 17.9 | – |
| 1995 | 24.2 | – |
| 1994 | 39.7 | – |
| 1993 | 50.4 | – |
| 1992 | 49.8 | – |
| 1991 | 53.2 | – |
| 1990 | 50.9 | – |
- 12.3Projected
IMF projection (World Economic Outlook, October 2026) · 2026–2031
| Year | Nigeria | South Korea |
|---|---|---|
| 2026 | 34.7 | 47.3 |
| 2027 | 32.8 | 46.2 |
| 2028 | 32.9 | 47 |
| 2029 | 32.5 | 48.2 |
| 2030 | 32.2 | 49.2 |
| 2031 | 31.9 | 49.7 |
Each country on its own
Good to know
- What the government owes, as a share of the economy’s yearly output.
- Source: IMF, World Economic Outlook, October 2026.
- The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
- Ranks count the 149 countries with a value in 2025, highest first.
How the layers work, where their data comes from and what they can’t tell you: Countries through time
Nigeria vs South Korea
Health
- Life expectancyNigeria: 54.5 years in 2023South Korea: 84.3 years in 2023
- Child mortalityNigeria: 11.6 per 100 live births in 2024South Korea: 0.3 per 100 live births in 2024
- Infant mortalityNigeria: 69.5 per 1,000 live births in 2023South Korea: 2.1 per 1,000 live births in 2023
- Safe drinking waterNigeria: 29% in 2022South Korea: 99.3% in 2022
- DepressionNigeria: 3.92% in 2017South Korea: 3.17% in 2017
- Suicide rateNigeria: 7.5 per 100,000 people in 2017South Korea: 20.8 per 100,000 people in 2017
People
- PopulationNigeria: 228 million people in 2023South Korea: 51.8 million people in 2023
- Population growthNigeria: 2.1% a year in 2023South Korea: -0.04% a year in 2023
- Fertility rateNigeria: 4.48 births per woman in 2023South Korea: 0.72 births per woman in 2023
- Urban populationNigeria: 63.8% in 2025South Korea: 81.2% in 2025
- Median ageNigeria: 17.8 years in 2023South Korea: 44.5 years in 2023
- People aged 65 and overNigeria: 3% in 2023South Korea: 18.3% in 2023
- Net migration rateNigeria: -0.3 per 1,000 people in 2023South Korea: 1.7 per 1,000 people in 2023
Economy
Education
Politics
Conflict
Military
- Military spendingNigeria: 0.91% of GDP in 2025South Korea: 2.6% of GDP in 2025
- Military spending in US dollarsNigeria: $1.76B in 2025South Korea: $48.9B in 2025
- Military spending per personNigeria: $9 in 2025South Korea: $924 in 2025
- Military share of state spendingNigeria: 5.9% of government spending in 2025South Korea: 10.8% of government spending in 2025
- Armed forces personnelNigeria: 223,000 people in 2020South Korea: 569,000 people in 2020
- National powerNigeria: 1.16% of world capability in 2022South Korea: 2% of world capability in 2022
- Armed forces, share of workersNigeria: 0.23% of the labour force in 2020South Korea: 2.01% of the labour force in 2020
- Arms importsNigeria: 21 million TIV in 2025South Korea: 222 million TIV in 2025
- Arms exportsNigeria: 4 million TIV in 2022South Korea: 2.02 billion TIV in 2025