Nigeria: Trade openness
* indicates monthly or quarterly data series
| Nigeria |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 26.17 |
| Year | 1960 |
| Measure | percent |
| Data availability | 1960 - 1960 |
| Average | 26.17 |
| Min - Max | 26.17 - 26.17 |
| Source | The World Bank |
The latest value from 1960 is 26.17 percent, an increase from percent in . In comparison, the world average is 48.10 percent, based on data from 54 countries. Historically, the average for Nigeria from 1960 to 1960 is 26.17 percent. The minimum value, 26.17 percent, was reached in 1960 while the maximum of 26.17 percent was recorded in 1960.
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The value of that indicator for 1960 is 26.17 percent.
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* indicates monthly or quarterly data series
Recent data
Definition: Exports plus imports as percent of GDP.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | 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 | 1,588.28 | 2023 | million dollars (current) |
| Current account, percent of GDP | 0.90 | 2023 | percent |
| Current account, in dollars | -0.81 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | -7.68 | 1960 | percent |
| Trade balance, in dollars | -5.16 | 2023 | billion U.S. dollars |
| Reserves | 35.56 | 2022 | billion U.S. dollars |
| Remittances, percent of GDP | 5.65 | 2023 | percent |
| Remittances | 20,500.00 | 2023 | million U.S. dollars |
| Net errors and omissions | -18,016.02 | 2023 | 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 |