Nigeria: Trade balance, in dollars

The latest value from 2023 is -5.16 billion U.S. dollars, an increase from -7.96 billion U.S. dollars in 2022. In comparison, the world average is 6.39 billion U.S. dollars, based on data from 112 countries. Historically, the average for Nigeria from 1977 to 2023 is 2.08 billion U.S. dollars. The minimum value, -32.24 billion U.S. dollars, was reached in 2020 while the maximum of 24.37 billion U.S. dollars was recorded in 2005. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Net trade in goods and services is derived by offsetting imports of goods and services against exports of goods and services. Exports and imports of goods and services comprise all transactions involving a change of ownership of goods and services between residents of one country and the rest of the world. Data are in current U.S. dollars.