Nigeria: Trade balance, percent of GDP

* indicates monthly or quarterly data series
 Nigeria

Trade balance as percent of GDP

 Latest value -7.68
 Year 1960
 Measure percent
 Data availability 1960 - 1960
 Average -7.68
 Min - Max -7.68 - -7.68
 Source The World Bank
For that indicator, we provide data for Nigeria from 1960 to 1960. The average value for Nigeria during that period was -7.68 percent with a minimum of -7.68 percent in 1960 and a maximum of -7.68 percent in 1960. The latest value from 1960 is -7.68 percent. For comparison, the world average in 1960 based on 63 countries is -3.77 percent. See the global rankings for that indicator or use the country comparator to compare trends over time. The value of that indicator for 1960 is -7.68 percent.
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* indicates monthly or quarterly data series


Recent values chart
Nigeria - Trade balance, percent of GDP - Recent values chart




The trade balance for Nigeria and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).

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 Related indicators Latest value Reference Measure
 Terms of trade 127.38 2021 percent
 Trade openness 26.17 1960 percent
 Financial openness -0.666 2021 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 -0.04 2022 percent
 Foreign Direct Investment, billion dollars -0.19 2022 billion U.S. dollars
 Portfolio investment inflows, equities 293.46 2022 million dollars (current)
 Current account, percent of GDP 0.10 2022 percent
 Current account, in dollars 1.02 2022 billion U.S. dollars
 Trade balance, percent of GDP -7.68 1960 percent
 Trade balance, in dollars -7.96 2022 billion U.S. dollars
 Reserves 35.56 2022 billion U.S. dollars
 Remittances, percent of GDP 4.26 2022 percent
 Remittances 20,127.61 2022 million U.S. dollars
 Net errors and omissions -7,513.48 2022 million USD
 External debt 21.39 2022 percent
 Short-term external debt 22.25 2022 percent
 Short-term debt to reserves 61.52 2022 percent
 Foreign exchange reserves 37.39 9/2022 billion
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