Goods balance (credit less debit), Net (credits less debits) (US) in Nigeria
Nigeria: Goods balance (credit less debit), Net (credits less debits) (US) 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) (US) 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% |
Nigeria compared with similar countries
- Nigeria's 13.17 billion is above the median for lower middle income countries, which is -673.06 million. (46 countries reporting)
- Nigeria's 13.17 billion is above the median for Sub-Saharan Africa, which is -577.00 million. (43 countries reporting)
Biggest year-on-year movements
Years where Goods balance (credit less debit), Net (credits less debits) (US) in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2017 | +2552.8% | -536.06 million | 13.15 billion |
| 2020 | -672.0% | 2.87 billion | -16.40 billion |
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
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.01 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.7387 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.01 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (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.
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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.