Australia and Nigeria Economies: A Side-by-Side Table Comparison

Australia and Nigeria present a striking contrast across various indicators. Nigeria’s population is over 8 times larger than Australia’s, while Australia boasts a surface area 8 times greater. Economically, Australia’s GDP is about 3.6 times larger, with higher per capita income and military spending nearly 10 times greater. Exports and imports also show Australia trading over 7 times more than Nigeria, reflecting their different economic focuses.

Basic Indicators

Indicator	Australia	Nigeria	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	218.54 million (6th)	Nigeria’s population is approximately 8.4 times larger than Australia’s.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	0.92 million sq. km (30th)	Australia is 8.4 times larger than Nigeria.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	472.62B USD (30th)	Australia’s total GDP is approximately 3.58 times larger than Nigeria’s.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	2,163 USD (145th)	Australia’s GDP per capita is roughly 96.7% higher than Nigeria’s, with Australians producing about $62,937.21 more per person annually.

Economic Indexes

Index	Australia	Nigeria	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.548 (147th)	Australia’s HDI is 0.946 (very high), while Nigeria’s is 0.548 (medium). Australia’s score is 0.398 higher, indicating significantly better human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	53.1 (115th)	Australia’s Index of Economic Freedom is 43.1% higher than Nigeria’s, 23.1 points more.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	35.1 (2018 est.)	With a 2.3% higher Gini coefficient, Nigeria has a higher degree of income inequality than Australia.

International trade _{source(2023 data), updated 2024}

Indicator	Australia	Nigeria
Total imports	363.57B USD	72.25B
Imports % of GDP	19.71%	13.76%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	China 32%, Belgium 11%, Netherlands 10%, India 8%, US 5%
Main import items	refined petroleum, cars, garments, trucks, plastic products	refined petroleum, wheat, garments, plastics, cars
Total exports	447.51B USD	60.26B
Exports % of GDP	25.43%	13.78%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	Spain 13%, India 12%, France 7%, US 7%, Netherlands 6%
Main export items	coal, iron ore, natural gas, gold, wheat	crude petroleum, natural gas, fertilizers, refined petroleum, gold

Australia’s imports are five times Nigeria’s, and Nigeria imports 30% less of its GDP compared to Australia. Australia’s exports are over seven times Nigeria’s, focusing on minerals and agricultural goods, while Nigeria mainly exports petroleum.

Military Power _{source (2023 data), updated 2024}

Indicator	Australia	Nigeria
Military expenditure	32.3B USD	3.2B USD
Military expenditure (% of GDP)	1.90%	0.64%
Active military	59k	143k
Active military per 1,000 capita	3.8	1.1

Australia’s military expenditure is approximately 10 times larger at $32.34 billion compared to Nigeria’s $3.19 billion, and Australia allocates a significantly higher percentage of its GDP to defense at 1.90% versus Nigeria’s 0.64%.