Goods balance (credit less debit), Net (credits less debits) in Nigeria
Nigeria: Goods balance (credit less debit), Net (credits less debits) was 13.17 billion in 2024. ◆ Volatile
Goods balance (credit less debit), Net (credits less debits) in Nigeria, 2005–2024
Source: International Monetary Fund.
Analysis
Nigeria recorded 13.17 billion for goods balance (credit less debit), net (credits less debits) in 2024.
The figure is up 63.0% on the previous year and down 37.5% over ten years.
Over the whole period, goods balance (credit less debit), net (credits less debits) in Nigeria peaked at 45.91 billion in 2008 and was at its lowest, -16.40 billion, in 2020.
Nigeria ranks 32nd of 198 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Goods balance (credit less debit), Net (credits less debits) in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 29.20 billion | — |
| 2006 | 34.95 billion | +19.7% |
| 2007 | 37.76 billion | +8.0% |
| 2008 | 45.91 billion | +21.6% |
| 2009 | 25.39 billion | -44.7% |
| 2010 | 30.10 billion | +18.5% |
| 2011 | 32.83 billion | +9.1% |
| 2012 | 39.19 billion | +19.4% |
| 2013 | 42.17 billion | +7.6% |
| 2014 | 21.06 billion | -50.1% |
| 2015 | -6.45 billion | -130.6% |
| 2016 | -536.06 million | -91.7% |
| 2017 | 13.15 billion | -2552.8% |
| 2018 | 20.47 billion | +55.7% |
| 2019 | 2.87 billion | -86.0% |
| 2020 | -16.40 billion | -672.0% |
| 2021 | -4.56 billion | -72.2% |
| 2022 | 6.00 billion | -231.5% |
| 2023 | 8.08 billion | +34.6% |
| 2024 | 13.17 billion | +63.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 34.64 billion | 25.39 billion | 45.91 billion | 5 |
| 2010s | 19.48 billion | -6.45 billion | 42.17 billion | 10 |
| 2020s | 1.26 billion | -16.40 billion | 13.17 billion | 5 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Net domestic credit (current LCU), per capita 296,323 current LCU per person (2022)
- Net domestic credit (current LCU), per unit of GDP 102.21 current LCU per US$ of GDP (2022)
- Net domestic credit (current LCU), annual growth rate 35.83 % change on previous year (2022)
- Gold reserves at 35 SDRs per ounce 24.13 million SDR (2025)
- Gold reserves at market value 2.20 billion SDR (2025)
- Reserves excluding gold, foreign exchange 28.09 billion SDR (2025)
- Reserves excluding gold 31.41 billion SDR (2025)
- Total reserves (gold at market value) 33.61 billion SDR (2025)
- Total reserves (gold at national valuation) 33.58 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 141.38 SDR per person (2025)
Frequently asked questions
- What is goods balance (credit less debit), net (credits less debits) in Nigeria?
- Goods balance (credit less debit), net (credits less debits) in Nigeria was 13.17 billion in 2024, according to International Monetary Fund.
- What is the highest goods balance (credit less debit), net (credits less debits) recorded in Nigeria?
- The highest recorded value was 45.91 billion in 2008.
- What is the lowest goods balance (credit less debit), net (credits less debits) recorded in Nigeria?
- The lowest recorded value was -16.40 billion in 2020.
- How does Nigeria rank for goods balance (credit less debit), net (credits less debits)?
- Nigeria ranks 32nd out of 198 countries with data for 2024.
- Is goods balance (credit less debit), net (credits less debits) rising or falling in Nigeria?
- Over the last ten years it is down 37.5%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Goods balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 20 observations, free to reuse under IMF Terms and Conditions (attribution required).
About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.