Nigeria: Short-term external debt
* indicates monthly or quarterly data series
| Nigeria |
Short-term debt, percent of total external debt |
|---|---|
| Latest value | 18.48 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1990 - 2023 |
| Average | 19.56 |
| Min - Max | 2.56 - 39.50 |
| Source | The World Bank |
The latest value from 2023 is 18.48 percent, a decline from 20.84 percent in 2022. In comparison, the world average is 17.39 percent, based on data from 167 countries. Historically, the average for Nigeria from 1990 to 2023 is 19.56 percent. The minimum value, 2.56 percent, was reached in 1991 while the maximum of 39.5 percent was recorded in 2012.
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Definition: External debt with of public and private domestic borrowers to non-residents with maturity of twelve months of less as percent of total external debt. 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 | 0.43 | 2024 | 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 | 6.82 | 2024 | 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 | 40.41 | 2024 | billion U.S. dollars |
| Remittances, percent of GDP | 8.44 | 2024 | percent |
| Remittances | 21,292.96 | 2024 | million U.S. dollars |
| Net errors and omissions | -5,095.54 | 2024 | 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 |