Goods balance (credit less debit), Percent of GDP (Balance of) in Nigeria
Nigeria: Goods balance (credit less debit), Percent of GDP (Balance of) was 5.18 in 2027. ◆ Volatile
Goods balance (credit less debit), Percent of GDP (Balance of) in Nigeria, 2000–2027
Source: International Monetary Fund.
Analysis
In 2027, goods balance (credit less debit), percent of gdp (balance of) in Nigeria stood at 5.18.
The figure is down 36.5% on the previous year and up 108.3% over ten years.
Over the whole period, goods balance (credit less debit), percent of gdp (balance of) in Nigeria peaked at 12.22 in 2005 and was at its lowest, -2.74, in 2020.
Nigeria ranks 14th of 45 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Goods balance (credit less debit), Percent of GDP (Balance of) in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 10.9 | — |
| 2001 | 6.7 | -38.6% |
| 2002 | 3.58 | -46.5% |
| 2003 | 5.4 | +50.8% |
| 2004 | 10.76 | +99.4% |
| 2005 | 12.22 | +13.5% |
| 2006 | 11.14 | -8.9% |
| 2007 | 10.07 | -9.6% |
| 2008 | 9.72 | -3.4% |
| 2009 | 5.96 | -38.7% |
| 2010 | 5.71 | -4.2% |
| 2011 | 5.55 | -2.8% |
| 2012 | 5.96 | +7.3% |
| 2013 | 5.74 | -3.7% |
| 2014 | 2.6 | -54.8% |
| 2015 | -0.9262 | -135.7% |
| 2016 | -0.094 | -89.9% |
| 2017 | 2.48 | -2743.8% |
| 2018 | 3.45 | +38.7% |
| 2019 | 0.4291 | -87.5% |
| 2020 | -2.74 | -738.4% |
| 2021 | -0.7484 | -72.7% |
| 2022 | 0.929 | -224.1% |
| 2023 | 1.66 | +78.4% |
| 2024 | 5.22 | +215.2% |
| 2025 | 6.16 | +18.0% |
| 2026 | 8.15 | +32.3% |
| 2027 | 5.18 | -36.5% |
Nigeria compared with similar countries
- Nigeria's 5.18 is above the median for Sub-Saharan Africa, which is -2.52. (45 countries reporting)
- Nigeria's 5.18 is above the median for lower middle income countries, which is -1.5. (19 countries reporting)
Biggest year-on-year movements
Years where Goods balance (credit less debit), Percent of GDP (Balance of) 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 | +2743.8% | -0.094 | 2.48 |
| 2020 | -738.4% | 0.4291 | -2.74 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 8.65 | 3.58 | 12.22 | 10 |
| 2010s | 3.09 | -0.9262 | 5.96 | 10 |
| 2020s | 2.98 | -2.74 | 8.15 | 8 |
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), percent of gdp (balance of) in Nigeria?
- Goods balance (credit less debit), percent of gdp (balance of) in Nigeria was 5.18 in 2027, according to International Monetary Fund.
- What is the highest goods balance (credit less debit), percent of gdp (balance of) recorded in Nigeria?
- The highest recorded value was 12.22 in 2005.
- What is the lowest goods balance (credit less debit), percent of gdp (balance of) recorded in Nigeria?
- The lowest recorded value was -2.74 in 2020.
- How does Nigeria rank for goods balance (credit less debit), percent of gdp (balance of)?
- Nigeria ranks 14th out of 45 countries with data for 2027.
- Is goods balance (credit less debit), percent of gdp (balance of) rising or falling in Nigeria?
- Over the last ten years it is up 108.3%. 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), Percent of GDP (Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6)). Statizoid updates them automatically from the source API.
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About this data
Sub-Saharan Africa Regional Economic Outlook (REO) provides information on recent economic developments and prospects for countries in sub-Saharan Africa. Data for the REO for sub-Saharan Africa are prepared in conjunction with the semi-annual World Economic Outlook (WEO) exercises, spring and fall.