Nigeria Total Trade of Goods & Services: % of Nominal GDP

2010 - 2023 | Quarterly | % | CEIC Data

Key information about Nigeria Total Trade of Goods and Services: % of Nominal GDP

  • Nigeria Total Trade of Goods & Services: % of Nominal GDP recorded 39.325 % in Dec 2023, compared with 38.170 % in the previous quarter.
  • Nigeria Total Trade of Goods & Services: % of Nominal GDP data is updated quarterly, available from Mar 2010 to Dec 2023, with an averaged value of 31.967 %.
  • The data reached an all-time high of 56.029 % in Dec 2011 and a record low of 17.199 % in Dec 2015.

CEIC calculates quarterly Total Trade of Goods and Services as % of Nominal GDP from quarterly Total Trade of Goods and Services and quarterly Nominal GDP. The National Bureau of Statistics provides Total Trade of Goods and Services in local currency and Nominal GDP in local currency.

View Nigeria's Total Trade of Goods & Services: % of Nominal GDP from Mar 2010 to Dec 2023 in the chart:

Nigeria Total Trade of Goods & Services: % of Nominal GDP

What was Nigeria's Total Trade of Goods & Services: % of Nominal GDP in Dec 2023?

Nigeria Total Trade of Goods & Services: % of Nominal GDP recorded 39.325 % in Dec 2023, compared with 38.170 % in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
39.325 Dec 2023 38.170 Sep 2023 17.199 Dec 2015 56.029 Dec 2011 % quarterly Mar 2010 - Dec 2023

Total Trade of Goods & Services: % of Nominal GDP by Country Comparison

country/region Last Frequency Range
Albania (%) 75.855 Jun 2024 quarterly Mar 2008 - Jun 2024
Algeria (%) 46.195 2023 yearly 1950 - 2023
Argentina (%) 28.090 Jun 2024 quarterly Mar 1993 - Jun 2024
Armenia (%) 175.931 Jun 2024 quarterly Dec 1994 - Jun 2024
Australia (%) 45.089 Jun 2024 quarterly Sep 1959 - Jun 2024
Austria (%) 108.409 Jun 2024 quarterly Mar 1964 - Jun 2024
Azerbaijan (%) 79.056 Mar 2024 quarterly Mar 2001 - Mar 2024
Bahrain (%) 166.346 2022 yearly 1975 - 2022
Bangladesh (%) 28.888 2024 yearly 1960 - 2024
Belarus (%) 133.539 Jun 2024 quarterly Mar 1995 - Jun 2024
Belgium (%) 161.369 Jun 2024 quarterly Mar 1980 - Jun 2024
Bolivia (%) 48.213 Jun 2024 quarterly Mar 1990 - Jun 2024
Bosnia and Herzegovina (%) 89.713 Jun 2024 quarterly Mar 2008 - Jun 2024
Botswana (%) 68.508 Jun 2024 quarterly Mar 1994 - Jun 2024
Brazil (%) 35.995 Jun 2024 quarterly Mar 1996 - Jun 2024
Brunei (%) 136.661 Jun 2024 quarterly Mar 2004 - Jun 2024
Bulgaria (%) 109.216 Sep 2024 quarterly Mar 1995 - Sep 2024
Cambodia (%) 145.874 2022 yearly 1988 - 2022
Canada (%) 67.747 Jun 2024 quarterly Mar 1961 - Jun 2024
Chile (%) 65.558 Sep 2024 quarterly Mar 1990 - Sep 2024
China (%) 38.986 Sep 2024 quarterly Mar 1998 - Sep 2024
Colombia (%) 37.049 Sep 2024 quarterly Mar 2005 - Sep 2024
Croatia (%) 104.813 Jun 2024 quarterly Mar 1995 - Jun 2024
Cyprus (%) 195.945 Jun 2024 quarterly Mar 1995 - Jun 2024
Czech Republic (%) 130.936 Jun 2024 quarterly Mar 1995 - Jun 2024
Denmark (%) 126.961 Jun 2024 quarterly Mar 1977 - Jun 2024
Ecuador (%) 57.813 Jun 2024 quarterly Mar 1991 - Jun 2024
Egypt (%) 52.182 Jun 2024 quarterly Sep 2001 - Jun 2024
Estonia (%) 153.058 Jun 2024 quarterly Mar 1995 - Jun 2024
European Union (%) 98.511 Jun 2024 quarterly Mar 1995 - Jun 2024
Finland (%) 83.493 Jun 2024 quarterly Mar 1970 - Jun 2024
France (%) 67.119 Sep 2024 quarterly Mar 1975 - Sep 2024
Georgia (%) 104.752 Jun 2024 quarterly Mar 1996 - Jun 2024
Germany (%) 81.411 Jun 2024 quarterly Mar 1991 - Jun 2024
Ghana (%) 69.037 2023 yearly 1983 - 2023
Greece (%) 95.175 Jun 2024 quarterly Mar 1995 - Jun 2024
Hong Kong SAR, China (%) 358.634 Sep 2024 quarterly Mar 1973 - Sep 2024
Hungary (%) 141.495 Jun 2024 quarterly Mar 1995 - Jun 2024
Iceland (%) 87.209 Jun 2024 quarterly Mar 1995 - Jun 2024
India (%) 45.391 Jun 2024 quarterly Jun 1996 - Jun 2024
Indonesia (%) 43.294 Sep 2024 quarterly Mar 1993 - Sep 2024
Iran (%) 51.598 2022 yearly 1959 - 2022
Ireland (%) 276.030 Jun 2024 quarterly Mar 1995 - Jun 2024
Israel (%) 54.129 Sep 2024 quarterly Mar 1995 - Sep 2024
Italy (%) 67.611 Jun 2024 quarterly Mar 1980 - Jun 2024
Ivory Coast (%) 47.669 2023 yearly 1960 - 2023
Japan (%) 47.451 Sep 2024 quarterly Mar 1955 - Sep 2024
Jordan (%) 80.489 2021 yearly 1967 - 2021
Kazakhstan (%) 43.521 Dec 2023 quarterly Mar 1994 - Dec 2023
Kenya (%) 32.092 2023 yearly 1964 - 2023
South Korea (%) 85.828 Jun 2024 quarterly Mar 1960 - Jun 2024
Kosovo (%) 108.462 Jun 2024 quarterly Mar 2010 - Jun 2024
Kuwait (%) 90.702 2022 yearly 1962 - 2022
Kyrgyzstan (%) 98.747 Sep 2016 quarterly Mar 2000 - Sep 2016
Laos (%) 75.092 2016 yearly 1984 - 2016
Latvia (%) 128.834 Jun 2024 quarterly Mar 1992 - Jun 2024
Lebanon (%) 87.417 2020 yearly 1990 - 2020
Lithuania (%) 145.091 Jun 2024 quarterly Mar 1995 - Jun 2024
Luxembourg (%) 388.449 Jun 2024 quarterly Mar 1995 - Jun 2024
Macau SAR, China (%) 130.716 Sep 2024 quarterly Mar 1998 - Sep 2024
North Macedonia (%) 152.070 Jun 2024 quarterly Mar 2000 - Jun 2024
Malawi (%) 46.122 2019 yearly 1960 - 2019
Malaysia (%) 139.674 Sep 2024 quarterly Mar 1991 - Sep 2024
Malta (%) 226.380 Jun 2024 quarterly Mar 1992 - Jun 2024
Mauritius (%) 106.580 Jun 2024 quarterly Mar 1999 - Jun 2024
Mexico (%) 70.184 Jun 2024 quarterly Mar 1993 - Jun 2024
Moldova (%) 93.077 Jun 2024 quarterly Mar 1995 - Jun 2024
Mongolia (%) 149.099 Sep 2024 quarterly Mar 2005 - Sep 2024
Montenegro (%) 111.092 Jun 2024 quarterly Mar 2010 - Jun 2024
Morocco (%) 97.106 Jun 2024 quarterly Mar 2007 - Jun 2024
Mozambique (%) 105.628 2023 yearly 1991 - 2022
Myanmar (%) 49.145 2019 yearly 2019 - 2019
Nepal (%) 41.638 2024 yearly 1969 - 2024
Netherlands (%) 159.175 Sep 2024 quarterly Mar 1987 - Sep 2024
New Zealand (%) 51.590 Jun 2024 quarterly Jun 1987 - Jun 2024
Nigeria (%) 39.325 Dec 2023 quarterly Mar 2010 - Dec 2023
Norway (%) 80.118 Jun 2024 quarterly Mar 1978 - Jun 2024
Oman (%) 95.667 2021 yearly 1980 - 2021
Pakistan (%) 26.922 2024 yearly 2000 - 2024
Palestinian Territory (%) 85.959 Jun 2024 quarterly Mar 2011 - Jun 2024
Panama (%) 89.533 2023 yearly 1960 - 2023
Paraguay (%) 82.292 Jun 2024 quarterly Mar 1994 - Jun 2024
Peru (%) 48.894 Jun 2024 quarterly Mar 1980 - Jun 2024
Philippines (%) 73.650 Sep 2024 quarterly Mar 1981 - Sep 2024
Poland (%) 103.888 Jun 2024 quarterly Mar 2002 - Jun 2024
Portugal (%) 93.062 Jun 2024 quarterly Mar 1977 - Jun 2024
Qatar (%) 92.001 Sep 2023 quarterly Mar 2013 - Sep 2023
Romania (%) 80.483 Jun 2024 quarterly Mar 1995 - Jun 2024
Russia (%) 40.094 Jun 2024 quarterly Mar 1995 - Jun 2024
Saudi Arabia (%) 60.972 Jun 2024 quarterly Mar 2003 - Jun 2024
Serbia (%) 121.015 Jun 2024 quarterly Mar 1995 - Jun 2024
Singapore (%) 310.244 Jun 2024 quarterly Mar 1975 - Jun 2024
Slovakia (%) 174.223 Jun 2024 quarterly Mar 1990 - Jun 2024
Slovenia (%) 154.951 Sep 2024 quarterly Mar 1995 - Sep 2024
South Africa (%) 61.390 Jun 2024 quarterly Mar 1960 - Jun 2024
Spain (%) 70.718 Jun 2024 quarterly Mar 1980 - Jun 2024
Sri Lanka (%) 42.093 Jun 2024 quarterly Mar 2010 - Jun 2024
Sudan (%) 41.299 2019 yearly 1996 - 2019
Sweden (%) 103.911 Jun 2024 quarterly Mar 1980 - Jun 2024
Switzerland (%) 132.846 Jun 2024 quarterly Mar 1980 - Jun 2024

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Nigeria Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.7 Jun 2024 quarterly Dec 2010 - Jun 2024
Consolidated Fiscal Balance (USD mn) -3,274.101 Jun 2024 quarterly Mar 2005 - Jun 2024
National Government Debt (USD mn) 88,444.7 Jun 2024 quarterly Dec 2006 - Jun 2024
Government Debt: % of GDP (%) 52.8 Jun 2024 quarterly Dec 2010 - Jun 2024
Forecast: Government Expenditure (NGN bn) 100,505.650 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 285,181.495 2029 yearly 1990 - 2029
Forecast: Government Revenue (NGN bn) 72,588.069 2029 yearly 1990 - 2029
Federal Govt Expenditure: Capital (NGN bn) 250.290 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure (NGN bn) 6,838.960 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,733.500 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Balance (NGN bn) -4,533.420 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Recurrent (NGN bn) 6,152.970 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue (NGN bn) 6,285.040 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Revenue (NGN bn) 2,305.540 Jun 2024 quarterly Mar 2005 - Jun 2024
Government Debt: Domestic (NGN bn) 66,957.878 Jun 2024 quarterly Dec 2005 - Jun 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 2,786.0 Jun 2024 monthly Jan 2003 - Jun 2024
Total Exports (USD mn) 4,913.5 Jun 2024 monthly Jan 2003 - Jun 2024
Total Exports Growth (%) 163.7 Jun 2024 monthly Jan 2004 - Jun 2024
Aluminum: Exports (USD th) 187,832.450 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 1,530.686 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 329.199 2023 yearly 1995 - 2023
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 83.0 Jun 2024 monthly Jan 2004 - Jun 2024
Imports: Medicament (USD th) 614,222.259 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 227,440.624 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 658.371 Jun 2024 monthly Jan 2003 - Jun 2024
Total Imports from USA (USD mn) 177.707 Jun 2024 monthly Dec 2009 - Jun 2024
Total Exports to China (USD mn) 160.464 Jun 2024 monthly Jan 2007 - Jun 2024
Total Imports from China (USD mn) 737.510 Jun 2024 monthly Jan 2007 - Jun 2024
Exports: Crude Oil (NGN mn) 5,457,219.231 Jun 2024 monthly Jan 2003 - Jun 2024
Total Trade (NGN mn) 10,433,069.822 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Growth Rate: MoM (%) -35.341 Jun 2024 monthly Jan 2019 - Jun 2024
Exports: Growth Rate: MoM (%) 10.446 Jun 2024 monthly Jan 2019 - Jun 2024
Exports: Europe: ow UK (NGN mn) 4,761.874 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: America: ow USA (NGN mn) 975,552.174 Jun 2024 monthly Jan 2003 - Jun 2024
Exports (NGN mn) 7,280,672.000 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: Europe: ow Netherlands (NGN mn) 434,520.151 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Exports: Vegetable Products (NGN mn) 786,963.687 2023 yearly 2003 - 2023
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
Imports: Europe: ow Netherlands (NGN mn) 89,695.701 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: America: ow USA (NGN mn) 263,320.371 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Europe: ow UK (NGN mn) 39,682.510 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Europe: ow Germany (NGN mn) 91,725.002 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Asia: ow China (NGN mn) 1,092,816.851 Jun 2024 monthly Jan 2007 - Jun 2024
Imports (NGN mn) 3,152,397.822 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Food and Live Animals (NGN mn) 464,465.517 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Chemicals and Chemical Products (NGN mn) 531,688.790 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Manufactured Goods (NGN mn) 415,104.163 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 564,023.272 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Machinery and Transport Equipment (NGN mn) 939,658.575 Jun 2024 monthly Jan 2003 - Jun 2024
Export Value Index (2015=100) 93.461 2021 yearly 1980 - 2021
Import Value Index (2015=100) 116.198 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -831.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Current Account Balance (USD mn) 5,142.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Current Account Balance: % of GDP (%) 11.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.3 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment (USD mn) 4,416.719 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: % of GDP (%) 10.0 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -309.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 4,726.039 Jun 2024 quarterly Mar 2008 - Jun 2024
External Debt (USD mn) 42,901.0 Jun 2024 quarterly Dec 2006 - Jun 2024
External Debt: % of GDP (%) 11.9 2023 yearly 1985 - 2023
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) -5.481 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) -86,263.760 2023 yearly 2005 - 2023
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government: International Capital Market (USD mn) 15,118.350 Jun 2024 quarterly Mar 2011 - Jun 2024
External Debt: Government (USD mn) 42,901.010 Jun 2024 quarterly Dec 2006 - Jun 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 21,896.535 Aug 2024 monthly Nov 1992 - Aug 2024
Money Supply M2 (USD mn) 67,150.889 Aug 2024 monthly Nov 1992 - Aug 2024
M2 Growth (%) 63.3 Aug 2024 monthly Nov 1993 - Aug 2024
Reserve Requirement Ratio (%) 50.0 Oct 2024 monthly Nov 2005 - Oct 2024
Foreign Exchange Reserves (USD mn) 34,762.2 Jun 2024 monthly Jan 1960 - Jun 2024
Foreign Exchange Reserves: % of GDP (%) 14.124 Jun 2024 quarterly Dec 2010 - Jun 2024
Foreign Exchange Reserves: Months of Import (NA) 16.3 Jun 2024 monthly Jan 2003 - Jun 2024
Gold Reserves (USD mn) 1,599.957 Jun 2024 monthly Dec 1950 - Jun 2024
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 73,616.6 Sep 2024 monthly Nov 1992 - Sep 2024
Domestic Credit Growth (%) 33.3 Aug 2024 monthly Nov 1993 - Aug 2024
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: Base Money (NGN mn) 26,891,229.280 Aug 2024 monthly Jan 1993 - Aug 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 72,232,284.010 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 34,949,935.480 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M2 (NGN mn) 107,182,219.490 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.140 Jun 2023 semiannually Dec 2003 - Jun 2023
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 12.8 Oct 2024 monthly Jul 2015 - Oct 2024

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