Nigeria: External debt
* indicates monthly or quarterly data series
| Nigeria |
External debt, percent of GDP |
|---|---|
| Latest value | 21.03 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1990 - 2023 |
| Average | 18.09 |
| Min - Max | 4.32 - 45.25 |
| Source | The World Bank |
The latest value from 2023 is 21.03 percent, an increase from 15.97 percent in 2022. In comparison, the world average is 114.96 percent, based on data from 167 countries. Historically, the average for Nigeria from 1990 to 2023 is 18.09 percent. The minimum value, 4.32 percent, was reached in 2008 while the maximum of 45.25 percent was recorded in 1990.
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Definition: The total debt of public and private borrowers held by non-residents as percent of GDP. Source: Kose, M. Ayhan, Sergio Kurlat, Franziska Ohnsorge, and Naotaka Sugawara. 2022. "A Cross-Country Database of Fiscal Space." Journal of International Money and Finance 128 (November): 102682.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 127.70 | 2023 | percent |
| Trade openness | 26.17 | 1960 | percent |
| Financial openness | -0.673 | 2022 | index points |
| Exports, percent of GDP | 9.24 | 1960 | percent |
| Exports, billion dollars | 0.39 | 1960 | billion U.S. dollars |
| Imports, percent of GDP | 16.92 | 1960 | percent |
| Imports, billion dollars | 0.71 | 1960 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 1.38 | 2025 | percent |
| Foreign Direct Investment, billion dollars | 1.61 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | 1,917.04 | 2024 | million dollars (current) |
| Current account, percent of GDP | 4.83 | 2025 | percent |
| Current account, in dollars | 14.04 | 2025 | billion U.S. dollars |
| Trade balance, percent of GDP | -7.68 | 1960 | percent |
| Trade balance, in dollars | -0.19 | 2024 | billion U.S. dollars |
| Reserves | 46.02 | 2025 | billion U.S. dollars |
| Remittances, percent of GDP | 8.44 | 2024 | percent |
| Remittances | 22,789.10 | 2025 | million U.S. dollars |
| Net errors and omissions | -15,726.34 | 2025 | million USD |
| External debt | 21.03 | 2023 | percent |
| Short-term external debt | 18.48 | 2023 | percent |
| Short-term debt to reserves | 59.12 | 2023 | percent |