Economy:

Natural resources: petroleum, tin, columbite, iron ore, coal, limestone, lead, zinc, natural gas

GDP: purchasing power parity—$132.7 billion (1996 est.)

GDP—real growth rate: 3.3% (1996 est.)

GDP—per capita: purchasing power parity—$1,300 (1996 est.)

GDP—composition by sector:

agriculture: 39%

industry: 31%

services: 30% (1996 est.)

Inflation rate—consumer price index: 12% (1997 est.)

Labor force:

total: 42.844 million

by occupation: agriculture 54%, industry, commerce, and services 19%, government 15%

Unemployment rate: 28% (1992 est.)

Budget:

revenues: $13.9 billion (1998 est.)

expenditures: $13.9 billion, including capital expenditures of $NA billion (1998 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

Industrial production growth rate: 4.1% (1996)

Electricity—capacity: 5.881 million kW (1995)

Electricity—production: 16.21 billion kWh (1996)

Electricity—consumption per capita: 152 kWh (1995)

Agriculture products: cocoa, peanuts, palm oil, corn, rice, sorghum, millet, cassava (tapioca), yams, rubber; cattle, sheep, goats, pigs; fishing and forest resources extensively exploited

Exports:

total value: $15 billion (f.o.b., 1996)

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

partners: US 40%, EU 21% (1995)

Imports:

total value: $8 billion (c.i.f., 1996)

commodities: machinery, chemicals, transportation equipment, manufactured goods, food and animals

partners: EU 50%, US 12%, Japan 7%

Debt—external: $34 billion (1997 est.)

Currency: 1 naira (N) = 100 kobo

Exchange rates: naira (N) per US$1—21.886 (December 1997), 21.886 (1997), 21.895 (1995), 21.996 (1994), 22.065 (1993)

Fiscal year: calendar year.