Nigeria: Economic globalization

* indicates monthly or quarterly data series

Economic globalization index (0-100)

 Latest value 41.00
 Year 2021
 Measure points
 Data availability 1970 - 2021
 Average 40.52
 Min - Max 28.83 - 53.49
 Source The Swiss Institute of Technology in Zurich
For that indicator, we provide data for Nigeria from 1970 to 2021. The average value for Nigeria during that period was 40.52 points with a minimum of 28.83 points in 1982 and a maximum of 53.49 points in 1993. The latest value from 2021 is 41 points. For comparison, the world average in 2021 based on 184 countries is 58.31 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Nigeria - Economic globalization - Recent values chart

Historical chart
Nigeria - Economic globalization - historical chart - 1970-2021

The KOF Economic Globalization Index for Nigeria and other countries has two dimensions. First, it measures the economic flows between Nigeria and the rest of the world in terms of international trade and international investment. The question is whether Nigeria exchanges a lot of goods, services, and investments with other countries. Second, it measures the restrictions to trade and investment such as tariffs and capital controls on international investment. Each dimension is based on several variables that are combined in one overall index that ranges from 0 to 100.
Definition: Economic globalization has two dimensions: actual economic flows and restrictions to trade and capital. The sub-index on actual economic flows includes data on trade, FDI, and portfolio investment. The sub-index on restrictions takes into account hidden import barriers, mean tariff rates, taxes on international trade (as a share of current revenue), and an index of capital controls. More information and the original data can be obtained here.

 Related indicators Latest value Reference Measure
 Overall globalization 55.00 2021 points
 Economic globalization 41.00 2021 points
 Political globalization 84.00 2021 points
 Social globalization 40.00 2021 points
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