Login to your server and run this command. This will dump your database in compressed format in current directory.
pg_dump database_name -U db_username -h localhost -F c > db_dump_compressed.sql
It will ask you for db_username's password. After taking some time, it'll save the db dump in a file called db_dump_compressed.sql
If you don't want it to be compressed, just remove -F c from the above command.
pg_dump database_name -U db_username -h localhost > db_dump.sql
You can now use this dump as the backup for your database.
If you want to use the current localhost database, you must drop it first:
psql template1 -c 'drop database database_name;'
Create a new database on the localhost:
psql template1 -c 'create database database_name with owner your_user_name;
And write your dump into the database:
psql database_name < database_name_20160527.sql
In windows, go to postgres bin folder and the run this command also add username after the command. like this:
./psql.exe database_name < db_dump.sql postgres
That's all! You now have the exact copy of production database available on your machine.