Services balance (credit less debit), Net (credits less debits) in Nigeria
Nigeria: Services balance (credit less debit), Net (credits less debits) was -13.36 billion in 2024. ▼ Falling
Services balance (credit less debit), Net (credits less debits) in Nigeria, 2005–2024
Source: International Monetary Fund.
Analysis
The most recent figure for services balance (credit less debit), net (credits less debits) in Nigeria is -13.36 billion, measured in 2024.
That represents a change of down 0.9% on the previous year and up 41.7% over ten years.
Over the whole period, services balance (credit less debit), net (credits less debits) in Nigeria peaked at -4.83 billion in 2005 and was at its lowest, -33.76 billion, in 2019.
That places Nigeria 184th out of 197 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 20 years of available data.
Services balance (credit less debit), Net (credits less debits) in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | -4.83 billion | — |
| 2006 | -11.63 billion | +140.6% |
| 2007 | -16.91 billion | +45.4% |
| 2008 | -22.11 billion | +30.8% |
| 2009 | -16.48 billion | -25.4% |
| 2010 | -18.25 billion | +10.7% |
| 2011 | -21.18 billion | +16.1% |
| 2012 | -21.54 billion | +1.7% |
| 2013 | -19.41 billion | -9.9% |
| 2014 | -22.92 billion | +18.1% |
| 2015 | -16.45 billion | -28.2% |
| 2016 | -8.01 billion | -51.3% |
| 2017 | -13.23 billion | +65.1% |
| 2018 | -26.07 billion | +97.0% |
| 2019 | -33.76 billion | +29.5% |
| 2020 | -15.84 billion | -53.1% |
| 2021 | -12.06 billion | -23.9% |
| 2022 | -13.96 billion | +15.7% |
| 2023 | -13.24 billion | -5.2% |
| 2024 | -13.36 billion | +0.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -14.39 billion | -22.11 billion | -4.83 billion | 5 |
| 2010s | -20.08 billion | -33.76 billion | -8.01 billion | 10 |
| 2020s | -13.69 billion | -15.84 billion | -12.06 billion | 5 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Total reserves in months of imports, annual growth rate -1.26 % change on previous year (2025)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 6.98 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0966 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 118.25 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate 6.08 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 132.23 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 8.47 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 141.49 SDR per person (2025)
Frequently asked questions
- What is services balance (credit less debit), net (credits less debits) in Nigeria?
- Services balance (credit less debit), net (credits less debits) in Nigeria was -13.36 billion in 2024, according to International Monetary Fund.
- What is the highest services balance (credit less debit), net (credits less debits) recorded in Nigeria?
- The highest recorded value was -4.83 billion in 2005.
- What is the lowest services balance (credit less debit), net (credits less debits) recorded in Nigeria?
- The lowest recorded value was -33.76 billion in 2019.
- How does Nigeria rank for services balance (credit less debit), net (credits less debits)?
- Nigeria ranks 184th out of 197 countries with data for 2024.
- Is services balance (credit less debit), net (credits less debits) rising or falling in Nigeria?
- Over the last ten years it is up 41.7%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Services 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.