Nigeria External Debt: % of GDP

1985 - 2021 | Yearly | % | CEIC Data

Key information about Nigeria External Debt: % of GDP

  • Nigeria External Debt accounted for 8.8 % of the country's Nominal GDP in 2021, compared with the ratio of 7.8 % in the previous year.
  • Nigeria External Debt: % of Nominal GDP data is updated yearly, available from Dec 1985 to Dec 2021.
  • The data reached an all-time high of 57.2 % in Dec 1991 and a record low of 1.1 % in Dec 2008.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and annual Nominal GDP. Debt Management Office Nigeria provides External Debt in USD. The National Bureau of Statistics provides Nominal GDP in local currency. The Central Bank of Nigeria average market exchange rate is used for currency conversions. External Debt covers General Government Debt only.


Related information about Nigeria External Debt: % of GDP

  • In the latest reports of Nigeria, Current Account recorded a surplus of 5.1 USD bn in Jun 2022.
  • Foreign Direct Investment (FDI) fell by 1.6 USD bn in Jun 2022.
  • Nigeria Direct Investment Abroad fell by 200.7 USD mn in Jun 2022.
  • Its Foreign Portfolio Investment increased by 1.7 USD bn in Jun 2022.
  • The country's External Debt reached 40,064.8 in Jun 2022.
  • The country's Nominal GDP was reported at 108.4 USD bn in Jun 2022.

View Nigeria's External Debt: % of GDP from 1985 to 2021 in the chart:

Nigeria External Debt: % of GDP

What was Nigeria's External Debt: % of GDP in 2021?

Nigeria External Debt accounted for 8.8 % of the country's Nominal GDP in 2021, compared with the ratio of 7.8 % in the previous year. See the table below for more data.

Last Previous Min Max Unit Frequency Range
8.8 2021 7.8 2020 1.1 2008 57.2 1991 % yearly 1985 - 2021

External Debt: % of GDP by Country Comparison

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Includes External Debt: % of GDP on 109 economies standardised by CEIC. Instant access to full history data in excel.
country/region Last Frequency Range
Albania (%) 63.2 2021 yearly 1991 - 2021
Algeria (%) 2.4 2020 yearly 1970 - 2020
Argentina (%) 56.6 2021 yearly 1994 - 2021
Armenia (%) 99.9 2021 yearly 2000 - 2021
Australia (%) 116.1 2021 yearly 1988 - 2021
Austria (%) 163.3 2021 yearly 1997 - 2021
Azerbaijan (%) 14.9 Dec 2021 quarterly Dec 2001 - Dec 2021
Bangladesh (%) 11.4 2017 yearly 1997 - 2017
Belarus (%) 58.5 Mar 2022 quarterly Dec 2000 - Mar 2022
Belgium (%) 258.3 2021 yearly 2007 - 2021
Bolivia (%) 38.8 2020 yearly 2006 - 2020
Bosnia and Herzegovina (%) 24.4 2021 yearly 1999 - 2021
Botswana (%) 8.6 2022 yearly 1995 - 2022
Brazil (%) 35.3 2021 yearly 1992 - 2021
Bulgaria (%) 58.4 2021 yearly 1999 - 2021
Cambodia (%) 75.1 2021 yearly 2010 - 2021
Canada (%) 135.0 2021 yearly 1990 - 2021
Chile (%) 75.4 2021 yearly 1971 - 2021
China (%) 15.5 2021 yearly 1985 - 2021
Colombia (%) 54.5 2021 yearly 1970 - 2021
Croatia (%) 74.6 2021 yearly 1998 - 2021
Cyprus (%) 699.5 2021 yearly 2004 - 2021
Czech Republic (%) 73.2 2021 yearly 1995 - 2021
Denmark (%) 151.0 2021 yearly 2005 - 2021
Ecuador (%) 54.0 2021 yearly 1970 - 2021
Egypt (%) 32.6 Jun 2022 quarterly Jun 1999 - Jun 2022
Estonia (%) 84.7 2021 yearly 1996 - 2021
European Union (%) 129.4 2021 yearly 2008 - 2021
Finland (%) 208.1 2021 yearly 1991 - 2021
France (%) 256.2 2021 yearly 2004 - 2021
Georgia (%) 117.7 2021 yearly 1999 - 2021
Germany (%) 169.4 2021 yearly 1999 - 2021
Ghana (%) 35.8 2021 yearly 1999 - 2021
Greece (%) 305.3 2021 yearly 2003 - 2021
Hong Kong SAR, China (%) 510.6 2021 yearly 2001 - 2021
Hungary (%) 157.7 2021 yearly 2006 - 2021
Iceland (%) 84.8 2021 yearly 1989 - 2021
India (%) 19.9 2022 yearly 1970 - 2022
Indonesia (%) 35.0 2021 yearly 2003 - 2021
Iran (%) 0.9 2021 yearly 1994 - 2021
Ireland (%) 681.1 2021 yearly 2002 - 2021
Israel (%) 32.8 2021 yearly 1998 - 2021
Italy (%) 138.0 2021 yearly 2002 - 2021
Ivory Coast (%) 24.0 2018 yearly 1994 - 2018
Japan (%) 97.9 2021 yearly 2003 - 2021
Jordan (%) 85.7 2021 yearly 1970 - 2021
Kazakhstan (%) 78.0 Jun 2022 quarterly Mar 2002 - Jun 2022
Kenya (%) 34.5 2021 yearly 2006 - 2021
South Korea (%) 34.9 2021 yearly 1994 - 2021
Kosovo (%) 37.4 2021 yearly 2007 - 2021
Kuwait (%) 58.5 2020 yearly 2014 - 2020
Kyrgyzstan (%) 106.1 2021 yearly 2003 - 2021
Laos (%) 53.8 2021 yearly 1996 - 2021
Latvia (%) 101.5 Sep 2022 quarterly Mar 2000 - Sep 2022
Lebanon (%) 53.0 2020 yearly 2007 - 2020
Lithuania (%) 77.0 2021 yearly 1996 - 2021
Luxembourg (%) 4,874.0 2021 yearly 2002 - 2021
North Macedonia (%) 81.4 2021 yearly 2004 - 2021
Malawi (%) 39.4 2014 yearly 2006 - 2014
Malaysia (%) 70.0 2021 yearly 2009 - 2021
Malta (%) 620.7 2021 yearly 2004 - 2021
Mauritius (%) 2,061.8 2021 yearly 2009 - 2021
Mexico (%) 47.1 2021 yearly 2002 - 2021
Moldova (%) 65.9 2021 yearly 2000 - 2021
Mongolia (%) 221.1 2021 yearly 1992 - 2021
Montenegro (%) 203.8 2020 yearly 2006 - 2020
Morocco (%) 46.9 2021 yearly 1970 - 2021
Mozambique (%) 71.7 2020 yearly 1985 - 2020
Myanmar (%) 16.7 2020 yearly 2018 - 2020
Nepal (%) 17.3 2016 yearly 2001 - 2016
Netherlands (%) 412.2 2021 yearly 2003 - 2021
New Zealand (%) 87.9 2021 yearly 1993 - 2021
Nigeria (%) 8.8 2021 yearly 1985 - 2021
Norway (%) 151.9 2021 yearly 2003 - 2021
Pakistan (%) 34.5 2022 yearly 2000 - 2022
Palestinian Territory (%) 12.0 2021 yearly 2012 - 2021
Panama (%) 177.4 2021 yearly 2014 - 2021
Paraguay (%) 50.4 2021 yearly 2000 - 2021
Peru (%) 45.2 2021 yearly 1980 - 2021
Philippines (%) 27.0 2021 yearly 1990 - 2021
Poland (%) 56.6 2021 yearly 1995 - 2021
Portugal (%) 190.4 2021 yearly 1996 - 2021
Qatar (%) 106.1 2018 yearly 2000 - 2018
Romania (%) 56.9 2021 yearly 1995 - 2021
Russia (%) 27.1 2021 yearly 1993 - 2021
Serbia (%) 68.5 2021 yearly 2000 - 2021
Singapore (%) 448.3 2021 yearly 2003 - 2021
Slovakia (%) 135.1 2021 yearly 1995 - 2021
Slovenia (%) 97.3 2021 yearly 2001 - 2021
South Africa (%) 38.3 2021 yearly 1985 - 2021
Spain (%) 192.9 2021 yearly 1995 - 2021
Sri Lanka (%) 57.7 2020 yearly 1998 - 2020
Sudan (%) 105.1 2020 yearly 2001 - 2020
Sweden (%) 169.7 2021 yearly 1997 - 2021
Switzerland (%) 292.0 2021 yearly 1999 - 2021
Taiwan (%) 27.5 2021 yearly 1999 - 2021
Tajikistan (%) 40.6 2020 yearly 2000 - 2020
Thailand (%) 37.9 Jun 2022 quarterly Mar 2005 - Jun 2022
Tunisia (%) 93.1 2020 yearly 2002 - 2020
Turkey (%) 54.2 2021 yearly 1989 - 2021

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Nigeria Key Series

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Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.7 Jun 2022 quarterly Dec 2010 - Jun 2022
Consolidated Fiscal Balance (USD mn) -3,893.668 Mar 2022 quarterly Mar 2005 - Mar 2022
National Government Debt (USD mn) 90,578.2 Jun 2022 quarterly Dec 2006 - Jun 2022
Government Debt: % of GDP (%) 20.3 Jun 2022 quarterly Dec 2010 - Jun 2022
Forecast: Government Expenditure (NGN bn) 53,317.753 2027 yearly 1990 - 2027
Forecast: Government Net Debt (NGN bn) 170,577.420 2027 yearly 1990 - 2027
Forecast: Government Revenue (NGN bn) 28,883.145 2027 yearly 1990 - 2027
Federal Govt Expenditure: Capital (NGN bn) 503.970 Jun 2022 quarterly Mar 2005 - Jun 2022
Federal Govt Expenditure (NGN bn) 3,792.910 Jun 2022 quarterly Mar 2005 - Jun 2022
Gross Federation Account Revenue: Oil (NGN bn) 1,296.240 Jun 2022 quarterly Mar 2005 - Jun 2022
Federal Govt Balance (NGN bn) -1,617.840 Mar 2022 quarterly Mar 2005 - Mar 2022
Federal Govt Expenditure: Recurrent (NGN bn) 3,071.520 Jun 2022 quarterly Mar 2005 - Jun 2022
Federal Govt Revenue (NGN bn) 1,052.420 Jun 2022 quarterly Mar 2005 - Jun 2022
Gross Federation Account Revenue (NGN bn) 3,204.170 Jun 2022 quarterly Mar 2005 - Jun 2022
Government Debt: Domestic (NGN bn) 20,948.942 Jun 2022 quarterly Dec 2005 - Jun 2022
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 0.879 2027 yearly 1991 - 2027
Trade Balance (USD mn) 2,020.9 Jun 2022 monthly Jan 2003 - Jun 2022
Total Exports (USD mn) 6,043.6 Jun 2022 monthly Jan 2003 - Jun 2022
Total Exports Growth (%) 40.0 Jun 2022 monthly Jan 2004 - Jun 2022
Aluminum: Exports (USD th) 118,090.394 2021 yearly 1995 - 2021
Exports: Medicament (USD th) 1,929.878 2021 yearly 1995 - 2021
Exports: Medicinal and Pharmaceutical Product (USD th) 659.364 2021 yearly 1995 - 2021
Total Imports (USD mn) 4,022.8 Jun 2022 monthly Jan 2003 - Jun 2022
Total Imports Growth (%) -12.4 Jun 2022 monthly Jan 2004 - Jun 2022
Imports: Medicament (USD th) 933,147.558 2021 yearly 1995 - 2021
Imports: Medicinal and Pharmaceutical Product (USD th) 373,298.796 2021 yearly 1995 - 2021
Total Exports to USA (USD mn) 485.976 Jun 2022 monthly Jan 2003 - Jun 2022
Total Imports from USA (USD mn) 372.681 Jun 2022 monthly Dec 2009 - Jun 2022
Total Exports to China (USD mn) 27.700 Jun 2022 monthly Jan 2007 - Jun 2022
Total Imports from China (USD mn) 1,122.654 Jun 2022 monthly Jan 2007 - Jun 2022
Imports (NGN mn) 1,669,497.807 Jun 2022 monthly Jan 2003 - Jun 2022
Exports: Crude Oil (NGN mn) 1,984,570.423 Jun 2022 monthly Jan 2003 - Jun 2022
Total Trade (NGN mn) 4,177,683.065 Jun 2022 monthly Jan 2003 - Jun 2022
Exports (NGN mn) 2,508,185.258 Jun 2022 monthly Jan 2003 - Jun 2022
Exports: Europe: ow UK (NGN mn) 50,705.873 Jun 2022 monthly Jan 2003 - Jun 2022
Exports: Europe: ow Netherlands (NGN mn) 186,294.238 Jun 2022 monthly Jan 2003 - Jun 2022
Exports: America: ow USA (NGN mn) 201,686.439 Jun 2022 monthly Jan 2003 - Jun 2022
Imports: America: ow USA (NGN mn) 154,667.521 Jun 2022 monthly Jan 2003 - Jun 2022
Imports: Europe: ow Netherlands (NGN mn) 168,731.075 Jun 2022 monthly Jan 2003 - Jun 2022
Imports: Asia: ow China (NGN mn) 465,916.152 Jun 2022 monthly Jan 2007 - Jun 2022
Imports: Europe: ow Germany (NGN mn) 50,094.090 Jun 2022 monthly Jan 2003 - Jun 2022
Imports: Europe: ow UK (NGN mn) 31,364.139 Jun 2022 monthly Jan 2003 - Jun 2022
Exports: Mineral Products (NGN mn) 16,910,118.786 2021 yearly 2003 - 2021
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 44,635.113 2021 yearly 2003 - 2021
Imports: Food and Live Animals (NGN mn) 297,516.318 Jun 2022 monthly Jan 2003 - Jun 2022
Imports: Machinery and Transport Equipment (NGN mn) 512,597.112 Jun 2022 monthly Jan 2003 - Jun 2022
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 271,391.044 Jun 2022 monthly Jan 2003 - Jun 2022
Imports: Manufactured Goods (NGN mn) 161,178.612 Jun 2022 monthly Jan 2003 - Jun 2022
Imports: Chemicals and Chemical Products (NGN mn) 294,146.904 Jun 2022 monthly Jan 2003 - Jun 2022
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -200.7 Jun 2022 quarterly Mar 2008 - Jun 2022
Current Account Balance (USD mn) 5,069.3 Jun 2022 quarterly Mar 2008 - Jun 2022
Current Account Balance: % of GDP (%) 4.7 Jun 2022 quarterly Mar 2008 - Jun 2022
Foreign Direct Investment (USD mn) -1,590.2 Jun 2022 quarterly Mar 2008 - Jun 2022
Foreign Direct Investment: % of GDP (%) -1.5 Jun 2022 quarterly Mar 2010 - Jun 2022
Foreign Portfolio Investment (USD mn) 1,678.390 Jun 2022 quarterly Mar 2008 - Jun 2022
Foreign Portfolio Investment: % of GDP (%) 1.5 Jun 2022 quarterly Mar 2010 - Jun 2022
Foreign Portfolio Investment: Equity Securities (USD mn) 195.0 Jun 2022 quarterly Mar 2008 - Jun 2022
Foreign Portfolio Investment: Debt Securities (USD mn) 1,483.379 Jun 2022 quarterly Mar 2008 - Jun 2022
External Debt (USD mn) 40,064.8 Jun 2022 quarterly Dec 2006 - Jun 2022
External Debt: % of GDP (%) 8.8 2021 yearly 1985 - 2021
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) -1.608 2027 yearly 1980 - 2027
Net International Investment Position (USD mn) -73,491.250 2021 yearly 2005 - 2021
BoP: CA: Goods (USD mn) 5,702.740 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Capital Account (USD mn) 0.000 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Income: Debit (USD mn) -3,313.990 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Current Transfers: Debit (USD mn) -116.057 Mar 2022 quarterly Mar 2008 - Mar 2022
BoP: CA: Goods: Credit (USD mn) 18,178.297 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account: Assets (USD mn) -980.074 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Services: Debit (USD mn) -4,829.596 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account: Assets: Reserves Assets (USD mn) -89.627 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account: Liabilities (USD mn) 4,050.401 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Goods: Debit (USD mn) -12,475.562 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Current Transfers: Credit (USD mn) 5,689.869 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account: Assets: Portfolio Investment (USD mn) -383.718 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Services (USD mn) -3,588.275 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account: Assets: Other Investment (USD mn) 292.577 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Income (USD mn) -2,623.830 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account: Assets: Direct Investment (USD mn) 200.694 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account: Liabilities: Other Investment (USD mn) 2,962.211 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Income: Credit (USD mn) 690.154 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account (USD mn) 3,070.326 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Current Transfers (USD mn) 5,578.656 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CF: Financial Account: Liabilities: Portfolio Investment (USD mn) 1,678.390 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: Net Errors & Omission (USD mn) -8,139.609 Jun 2022 quarterly Mar 2008 - Jun 2022
BoP: CA: Services: Credit (USD mn) 1,241.320 Jun 2022 quarterly Mar 2008 - Jun 2022
External Debt: Government (USD mn) 39,969.190 Mar 2022 quarterly Dec 2006 - Mar 2022
External Debt: Government: International Capital Market (USD mn) 15,618.350 Jun 2022 quarterly Mar 2011 - Jun 2022
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
Capital Inflow: Foreign Direct Investment (USD) 7,458,089.000 Jul 2022 monthly Jan 2007 - Jul 2022
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) 48,626.388 Oct 2022 monthly Nov 1992 - Oct 2022
Money Supply M2 (USD mn) 115,336.491 Oct 2022 monthly Nov 1992 - Oct 2022
M2 Growth (%) 21.9 Oct 2022 monthly Nov 1993 - Oct 2022
Reserve Requirement Ratio (%) 32.5 Nov 2022 monthly Nov 2005 - Nov 2022
Foreign Exchange Reserves (USD mn) 37,386.7 Oct 2022 monthly Jan 1960 - Oct 2022
Foreign Exchange Reserves: % of GDP (%) 8.764 Jun 2022 quarterly Dec 2010 - Jun 2022
Foreign Exchange Reserves: Months of Import (NA) 9.7 Jun 2022 monthly Jan 2003 - Jun 2022
Gold Reserves (USD mn) 1,406.391 Apr 2021 monthly Dec 1950 - Apr 2021
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) 1,447,546.7 Oct 2022 monthly Nov 1992 - Oct 2022
Domestic Credit Growth (%) 1,234.5 Oct 2022 monthly Nov 1993 - Oct 2022
Private Debt: % of Nominal GDP (%) 12.23 Dec 2021 quarterly Dec 2010 - Dec 2021
Monetary Survey: Liabilities: M2: M1 (NGN mn) 21,323,643.560 Oct 2022 monthly Nov 1992 - Oct 2022
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 29,253,714.450 Oct 2022 monthly Nov 1992 - Oct 2022
Monetary Survey: Liabilities: Base Money (NGN mn) 14,999,458.700 Oct 2022 monthly Jan 1993 - Oct 2022
Monetary Survey: Liabilities: M2 (NGN mn) 50,577,358.020 Oct 2022 monthly Nov 1992 - Oct 2022
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 5.700 Jun 2021 semiannually Dec 2003 - Jun 2021
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 7.2 Jul 2022 monthly Jul 2015 - Jul 2022

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