Published: Monday, 21th October 2024
The Standard of living in Nigeria is 2.75 times lesser as compared to New Zealand.
In this page, you will find side-by-side Standard of Living comparison between Nigeria and New Zealand. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Nigeria and New Zealand.
 Indicators  | Nigeria  | New Zealand  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $252.738 billion USD | $249.415 billion USD |
GDP Per Capita (2023)  | 1,110 USD | 48,071 USD |
GINI Ratio (2023)  | 0.35 | 0.30 |
Inflation on Consumer Prices (2023)  | 24.66 % annually | 5.73 % annually |
Central Government Debt (2023)  | Yet to Update | 54.6 % of GDP |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Nigeria is $252.738 billion USD and that of New Zealand is $249.415 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in Nigeria contributes less to the country's economy compared to a person working in New Zealand.
Indicators | Nigeria | New Zealand |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.548 | 0.939 |
Human Capital Index (HCI) (2024)  | 0.36 | 0.78 |
Literacy Rate (2023)  | 62.02% (15 years+ above age) | 99% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 63.4 years | 82.2 years |
Healthy Life Expectancy Ratio (2023)  | 54.9 years | 70 years |
Poverty Ratio (2023)  | 40.1% of total Population | Yet to Update |
Unemployment Rate (2023)  | 3.07% of total labor force | 3.74% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of Nigeria is [ 0.548 ] and the HDI of New Zealand is [ 0.939 ].
The data shows that the people living in Nigeria has lower income, life expectancy and education level compared to New Zealand.
Indicators | Nigeria | New Zealand |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 105.05 % of GDP |
Total Health Expenditure (2023)  | 4.08 % of GDP | 10.05 % of GDP |
Research and Development Expenditure (2023)  | 0.28 % of GDP | 1.45 % of GDP |
Government Expenditure on Education (2023)  | 3.06 % of GDP | 5.51 % of GDP |
International Tourism Expenditure (2023)  | 6,613 million USD | 4,603 million USD |
Number of International Tourists Arrivals (2023)  | 5,265,000 | 996,000 |
Military Expenditure (2023)  | 0.64 % of GDP | 1.18 (% of GDP) |
Indicators | Nigeria | New Zealand |
|---|---|---|
Number of Doctors (2023)  | 3.95 (Per 10,000 People) | 35.2 (Per 10,000 People) |
Number of Nurses (2023)  | 15.6 (Per 10,000 People) | 114.3 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.81 (Per 10,000 People) | 7.21 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.5 (Per 1000 People) | 2.57 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 67 % of total Population | 95 % of total Population |
Nigeria has 8.91 times less Doctors compared to New Zealand (Per 10,000 People).
Nigeria has 7.33 times less Nurses compared to New Zealand (Per 10,000 People).
Indicators | Nigeria | New Zealand |
|---|---|---|
Agricultural Land (2023)  | 686,440 Sq Km | 101,750 Sq Km |
Forest Area (2023)  | 214,636.5 Sq Km | 99,085.27 Sq Km |
CO2 Emissions (2023)  | 0.1 kg per PPP $ of GDP | 0.14 kg per PPP $ of GDP |
Access to Electricity (2023)  | 60.5 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 55.36 % of total Population | 95.91 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 12.47 Billion cubic meters | 9.88 Billion cubic meters |
60.5% of the total Population of Nigeria has access to the electricity in their homes, whereas, in case of New Zealand, 100% of the total Population has access to electricity.
Indicators | Nigeria | New Zealand |
|---|---|---|
Time Required to Start a Business (2023)  | 7.2 Days | 0.5 Days |
New Businesses Registered (2023)  | 136,961 (New Businesses) | 54,348 (New Businesses) |
New Businesses Registration Density (2023)  | 1.16 (Per 1000 People) | 16.32 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 26.1 % of GNI Per Capita | 0.2 % of GNI Per Capita |
In the year 2023, 136,961 new businesses got registered in Nigeria and 54,348 new businesses got registered in New Zealand.
It usually takes 7.2 days in Nigeria and 0.5 days in New Zealand to register a new business legally and systematically.
Indicators | Nigeria | New Zealand |
|---|---|---|
Imports of Goods and Services (2023)  | 16.92 % of GDP | 29.69 % of GDP |
Total Fuel Imports (2023)  | 33.42 % of Merchandise Imports | 14.47 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 1,076.79 USD | 366.5 USD |
Time to Import Border Compliance (2023)  | 241.71 Hours | 25 Hours |
Cost to Import Documentary Compliance (2023)  | 564.29 USD | 80 USD |
Time to Import Documentary Compliance (2023)  | 120 Hours | 1 Hour |
Indicators | Nigeria | New Zealand |
|---|---|---|
Exports of Goods and Services (2023)  | 9.24 % of GDP | 24.39 % of GDP |
Total Fuel Exports (2023)  | 91.61 % of Merchandise Exports | 1.37 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 785.71 USD | 337 USD |
Time to Export Border Compliance (2023)  | 128.43 Hours | 37 Hours |
Cost to Export Documentary Compliance (2023)  | 250 USD | 67 USD |
Time to Export Documentary Compliance (2023)  | 74 Hours | 3 Hours |
Indicators | Nigeria | New Zealand |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 17.67 % of GDP |
Tax Revenue (2023)  | Yet to Update | 29.93 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 0.05 % of Tax Revenue |
Taxes on Goods and Services (2023)  | Yet to Update | 27.87 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 2.68 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 343.37 Hours | 140 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | 3 % of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living comparsion between Nigeria and New Zealand.
For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.
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