Nigeria External Debt: % of GDP

1985 - 2020 | Yearly | % | CEIC Data

Key information about Nigeria`s External Debt: % of GDP

  • Nigeria External Debt accounted for 7.8 % of the country's Nominal GDP in 2020, compared with the ratio of 5.9 % in the previous year.
  • Nigeria External Debt: % of Nominal GDP data is updated yearly, available from Dec 1985 to Dec 2020.
  • 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`s External Debt: % of GDP

  • In the latest reports of Nigeria, Current Account recorded a deficit of 3.3 USD bn in Sep 2020.
  • Foreign Direct Investment (FDI) increased by 775.2 USD mn in Sep 2020.
  • Nigeria Direct Investment Abroad expanded by 196.4 USD mn in Jun 2021.
  • Its Foreign Portfolio Investment fell by 272.9 USD mn in Jun 2021.
  • The country's External Debt reached 33,468.9 in Jun 2021.
  • The country's Nominal GDP was reported at 114.8 USD bn in Dec 2020.

View Nigeria's External Debt: % of GDP from 1985 to 2020 in the chart:

Nigeria External Debt: % of GDP

What was Nigeria's External Debt: % of GDP in 2020?

Nigeria External Debt accounted for 7.8 % of the country's Nominal GDP in 2020, compared with the ratio of 5.9 % in the previous year. See the table below for more data.

Last Previous Min Max Unit Frequency Range
7.8 2020 5.9 2019 1.1 2008 57.2 1991 % yearly 1985 - 2020

External Debt: % of GDP by Country Comparison

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Includes External Debt: % of GDP on 108 economies standardised by CEIC. Instant access to full history data in excel.
country/region Last Frequency Range
Albania (%) 65.6 2020 yearly 1991 - 2020
Algeria (%) 2.2 2019 yearly 1970 - 2019
Argentina (%) 70.7 2020 yearly 1994 - 2020
Armenia (%) 102.3 2020 yearly 2000 - 2020
Australia (%) 129.1 2020 yearly 1988 - 2020
Austria (%) 164.9 2020 yearly 1997 - 2020
Azerbaijan (%) 20.7 Dec 2020 quarterly Dec 2001 - Dec 2020
Bangladesh (%) 11.4 2017 yearly 1997 - 2017
Belarus (%) 70.2 Dec 2020 quarterly Dec 2000 - Dec 2020
Belgium (%) 261.0 2020 yearly 2007 - 2020
Bolivia (%) 38.8 2020 yearly 2006 - 2020
Bosnia and Herzegovina (%) 25.5 2020 yearly 1999 - 2020
Botswana (%) 8.6 2020 yearly 1995 - 2020
Brazil (%) 38.4 2020 yearly 1992 - 2020
Bulgaria (%) 64.6 2020 yearly 1999 - 2020
Cambodia (%) 69.9 2020 yearly 2010 - 2020
Canada (%) 142.8 2020 yearly 1990 - 2020
Chile (%) 82.4 2020 yearly 1971 - 2020
China (%) 16.3 2020 yearly 1985 - 2020
Colombia (%) 56.7 2020 yearly 1970 - 2020
Croatia (%) 87.9 2020 yearly 1998 - 2020
Cyprus (%) 908.4 2020 yearly 2004 - 2020
Czech Republic (%) 75.5 2020 yearly 1995 - 2020
Denmark (%) 157.0 2020 yearly 2005 - 2020
Ecuador (%) 57.4 2020 yearly 1970 - 2020
Egypt (%) 33.9 Sep 2020 quarterly Jun 1999 - Sep 2020
Estonia (%) 91.1 2020 yearly 1996 - 2020
European Union (%) 130.3 2020 yearly 2008 - 2020
Finland (%) 225.1 2020 yearly 1991 - 2020
France (%) 261.7 2020 yearly 2004 - 2020
Georgia (%) 129.8 2020 yearly 1999 - 2020
Germany (%) 163.3 2020 yearly 1999 - 2020
Ghana (%) 34.2 2020 yearly 1999 - 2020
Greece (%) 299.1 2020 yearly 2003 - 2020
Hong Kong SAR, China (%) 514.2 2020 yearly 2001 - 2020
Hungary (%) 155.9 2020 yearly 2006 - 2020
Iceland (%) 83.5 2020 yearly 1989 - 2020
India (%) 21.1 2021 yearly 1970 - 2021
Indonesia (%) 39.4 2020 yearly 2003 - 2020
Iran (%) 1.0 2021 yearly 1994 - 2021
Ireland (%) 701.2 2020 yearly 2002 - 2020
Israel (%) 32.9 2020 yearly 1998 - 2020
Italy (%) 140.2 2020 yearly 2002 - 2020
Ivory Coast (%) 24.0 2018 yearly 1994 - 2018
Japan (%) 92.8 2020 yearly 2003 - 2020
Jordan (%) 82.1 2020 yearly 1970 - 2020
Kazakhstan (%) 96.5 Dec 2020 quarterly Mar 2002 - Dec 2020
Kenya (%) 33.1 2019 yearly 2015 - 2019
South Korea (%) 33.3 2020 yearly 1994 - 2020
Kosovo (%) 37.2 2020 yearly 2007 - 2020
Kuwait (%) 50.5 2020 yearly 2014 - 2020
Kyrgyzstan (%) 112.9 2020 yearly 2003 - 2020
Laos (%) 52.6 2019 yearly 1996 - 2019
Latvia (%) 124.2 Dec 2020 quarterly Mar 2000 - Dec 2020
Lebanon (%) 62.8 2019 yearly 2007 - 2019
Lithuania (%) 75.7 2020 yearly 1996 - 2020
Luxembourg (%) 5,166.8 2020 yearly 2002 - 2020
North Macedonia (%) 80.2 2020 yearly 2004 - 2020
Malawi (%) 39.4 2014 yearly 2006 - 2014
Malaysia (%) 67.6 2020 yearly 2009 - 2020
Malta (%) 678.6 2020 yearly 2004 - 2020
Mauritius (%) 2,062.5 2020 yearly 2009 - 2020
Mexico (%) 42.8 2020 yearly 2002 - 2020
Moldova (%) 70.1 2020 yearly 2000 - 2020
Mongolia (%) 243.1 2020 yearly 1992 - 2020
Montenegro (%) 203.8 2020 yearly 2006 - 2020
Morocco (%) 53.5 2020 yearly 1970 - 2020
Mozambique (%) 71.8 2017 yearly 1985 - 2017
Nepal (%) 17.3 2016 yearly 2001 - 2016
Netherlands (%) 443.8 2020 yearly 2003 - 2020
New Zealand (%) 90.3 2020 yearly 1993 - 2020
Nigeria (%) 7.8 2020 yearly 1985 - 2020
Norway (%) 180.3 2020 yearly 2003 - 2020
Pakistan (%) 41.0 2021 yearly 2000 - 2021
Palestinian Territory (%) 35.4 2018 yearly 2012 - 2018
Panama (%) 201.9 2020 yearly 2014 - 2020
Paraguay (%) 53.8 2020 yearly 2000 - 2020
Peru (%) 43.3 2020 yearly 1980 - 2020
Philippines (%) 27.2 2020 yearly 1990 - 2020
Poland (%) 60.6 2020 yearly 1995 - 2020
Portugal (%) 205.2 2020 yearly 1996 - 2020
Qatar (%) 106.1 2018 yearly 2000 - 2018
Romania (%) 58.1 2020 yearly 1995 - 2020
Russia (%) 31.5 2020 yearly 1993 - 2020
Serbia (%) 61.5 2020 yearly 2000 - 2020
Singapore (%) 471.3 2020 yearly 2003 - 2020
Slovakia (%) 120.5 2020 yearly 1995 - 2020
Slovenia (%) 101.9 2020 yearly 2001 - 2020
South Africa (%) 50.8 2020 yearly 1985 - 2020
Spain (%) 198.8 2020 yearly 1995 - 2020
Sri Lanka (%) 61.1 2020 yearly 1994 - 2020
Sudan (%) 120.5 2019 yearly 2001 - 2019
Sweden (%) 164.2 2020 yearly 1997 - 2020
Switzerland (%) 283.3 2020 yearly 1999 - 2020
Taiwan (%) 28.4 2020 yearly 1999 - 2020
Tajikistan (%) 37.5 2020 yearly 2000 - 2020
Thailand (%) 36.7 Dec 2020 quarterly Mar 2005 - Dec 2020
Tunisia (%) 100.9 2020 yearly 2002 - 2020
Turkey (%) 60.4 2020 yearly 1989 - 2020
Ukraine (%) 80.8 2020 yearly 1993 - 2020

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Nigeria Key Series

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Includes 208 key indicators for Nigeria, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -3.8 Dec 2020 quarterly Dec 2010 - Dec 2020
Consolidated Fiscal Balance (USD mn) -3,910.052 Dec 2020 quarterly Mar 2005 - Dec 2020
National Government Debt (USD mn) 76,509.0 Jun 2021 quarterly Dec 2006 - Jun 2021
Government Debt: % of GDP (%) 18.8 Dec 2020 quarterly Dec 2010 - Dec 2020
Forecast: Government Expenditure (NGN bn) 44,059.720 2026 yearly 1990 - 2026
Forecast: Government Net Debt (NGN bn) 147,248.260 2026 yearly 1990 - 2026
Forecast: Government Revenue (NGN bn) 22,754.690 2026 yearly 1990 - 2026
Federal Govt Balance (NGN bn) -1,483.930 Dec 2020 quarterly Mar 2005 - Dec 2020
Federal Govt Expenditure: Recurrent (NGN bn) 1,720.090 Dec 2020 quarterly Mar 2005 - Dec 2020
Federal Govt Revenue (NGN bn) 903.520 Dec 2020 quarterly Mar 2005 - Dec 2020
Federal Govt Expenditure: Capital (NGN bn) 622.130 Dec 2020 quarterly Mar 2005 - Dec 2020
Federal Govt Expenditure (NGN bn) 2,387.460 Dec 2020 quarterly Mar 2005 - Dec 2020
Gross Federation Account Revenue: Oil (NGN bn) 985.570 Dec 2020 quarterly Mar 2005 - Dec 2020
Gross Federation Account Revenue (NGN bn) 2,208.100 Dec 2020 quarterly Mar 2005 - Dec 2020
Government Debt: Domestic (NGN bn) 17,631.803 Jun 2021 quarterly Dec 2005 - Jun 2021
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 3.851 2026 yearly 1991 - 2026
Trade Balance (USD mn) -1,658.6 Jun 2021 monthly Jan 2003 - Jun 2021
Total Exports (USD mn) 4,400.4 Jun 2021 monthly Jan 2003 - Jun 2021
Total Exports Growth (%) 129.3 Jun 2021 monthly Jan 2004 - Jun 2021
Aluminum: Exports (USD th) 89,277.166 2020 yearly 1995 - 2020
Exports: Medicament (USD th) 1,579.306 2020 yearly 1995 - 2020
Exports: Medicinal and Pharmaceutical Product (USD th) 585.807 2020 yearly 1995 - 2020
Total Imports (USD mn) 6,059.0 Jun 2021 monthly Jan 2003 - Jun 2021
Total Imports Growth (%) 47.8 Jun 2021 monthly Jan 2004 - Jun 2021
Imports: Medicament (USD th) 916,159.669 2020 yearly 1995 - 2020
Imports: Medicinal and Pharmaceutical Product (USD th) 417,523.499 2020 yearly 1995 - 2020
Total Exports to USA (USD mn) 36.075 Sep 2020 monthly Jan 2003 - Sep 2020
Total Imports from USA (USD mn) 422.719 Dec 2020 monthly Dec 2009 - Dec 2020
Total Exports to China (USD mn) 214.635 Mar 2021 monthly Jan 2007 - Mar 2021
Total Imports from China (USD mn) 1,440.816 Dec 2020 monthly Jan 2007 - Dec 2020
Imports (NGN mn) 2,482,178.500 Jun 2021 monthly Jan 2003 - Jun 2021
Total Trade (NGN mn) 4,284,886.800 Jun 2021 monthly Jan 2003 - Jun 2021
Exports: Crude Oil (NGN mn) 1,427,694.500 Jun 2021 monthly Jan 2003 - Jun 2021
Exports: Europe: ow Netherlands (NGN mn) 151,705.200 Jun 2021 monthly Jan 2003 - Jun 2021
Exports: America: ow USA (NGN mn) 20,143.540 Jun 2021 monthly Jan 2003 - Jun 2021
Exports (NGN mn) 1,802,708.300 Jun 2021 monthly Jan 2003 - Jun 2021
Exports: Europe: ow UK (NGN mn) 71,325.810 Jun 2021 monthly Jan 2003 - Jun 2021
Imports: Asia: ow China (NGN mn) 760,861.440 Jun 2021 monthly Jan 2007 - Jun 2021
Imports: Europe: ow Germany (NGN mn) 68,665.950 Jun 2021 monthly Jan 2003 - Jun 2021
Imports: Europe: ow UK (NGN mn) 48,731.700 Jun 2021 monthly Jan 2003 - Jun 2021
Imports: America: ow USA (NGN mn) 182,625.240 Jun 2021 monthly Jan 2003 - Jun 2021
Imports: Europe: ow Netherlands (NGN mn) 222,524.470 Jun 2021 monthly Jan 2003 - Jun 2021
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 10,603.818 2020 yearly 2003 - 2020
Exports: Mineral Products (NGN mn) 11,120,986.129 2020 yearly 2003 - 2020
Exports: Vegetable Products (NGN mn) 189,913.743 2020 yearly 2003 - 2020
Imports: Food and Live Animals (NGN mn) 292,446.000 Jun 2021 monthly Jan 2003 - Jun 2021
Imports: Machinery and Transport Equipment (NGN mn) 893,700.000 Jun 2021 monthly Jan 2003 - Jun 2021
Imports: Chemicals and Chemical Products (NGN mn) 434,379.000 Jun 2021 monthly Jan 2003 - Jun 2021
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 489,053.000 Jun 2021 monthly Jan 2003 - Jun 2021
Imports: Manufactured Goods (NGN mn) 213,392.000 Jun 2021 monthly Jan 2003 - Jun 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 196.4 Jun 2021 quarterly Mar 2008 - Jun 2021
Current Account Balance (USD mn) -3,337.9 Sep 2020 quarterly Mar 2008 - Sep 2020
Current Account Balance: % of GDP (%) -3.2 Sep 2020 quarterly Mar 2008 - Sep 2020
Foreign Direct Investment (USD mn) 775.2 Sep 2020 quarterly Mar 2008 - Sep 2020
Foreign Direct Investment: % of GDP (%) 1.6 Jun 2021 quarterly Mar 2010 - Jun 2021
Foreign Portfolio Investment (USD mn) -272.929 Jun 2021 quarterly Mar 2008 - Jun 2021
Foreign Portfolio Investment: % of GDP (%) 1.7 Sep 2020 quarterly Mar 2010 - Sep 2020
Foreign Portfolio Investment: Equity Securities (USD mn) 125.5 Sep 2020 quarterly Mar 2008 - Sep 2020
Foreign Portfolio Investment: Debt Securities (USD mn) 1,616.928 Sep 2020 quarterly Mar 2008 - Sep 2020
External Debt (USD mn) 33,468.9 Jun 2021 quarterly Dec 2006 - Jun 2021
External Debt: % of GDP (%) 7.8 2020 yearly 1985 - 2020
External Debt: Short Term (USD mn) 310.7 2018 yearly 2008 - 2018
External Debt: Short Term: % of GDP (%) 0.1 2018 yearly 2008 - 2018
Forecast: Current Account Balance (USD bn) -7.273 2026 yearly 1980 - 2026
Net International Investment Position (USD mn) -85,210.476 2020 yearly 2005 - 2020
BoP: CA: Income (USD mn) -3,172.538 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account: Assets: Direct Investment (USD mn) -196.383 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Services: Debit (USD mn) -5,545.994 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Current Transfers: Debit (USD mn) -1,189.271 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Goods: Credit (USD mn) 12,612.400 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Goods (USD mn) 1,058.230 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Current Transfers (USD mn) 6,358.992 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account: Liabilities: Portfolio Investment (USD mn) -272.929 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Income: Credit (USD mn) 393.503 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account (USD mn) 2,105.546 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Goods: Debit (USD mn) -11,554.170 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Current Transfers: Credit (USD mn) 7,548.263 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account: Liabilities: Other Investment (USD mn) -233.013 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account: Assets: Reserves Assets (USD mn) 2,142.971 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account: Liabilities (USD mn) 1,057.699 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Capital Account (USD mn) 0.000 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account: Assets: Portfolio Investment (USD mn) -12.550 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Services (USD mn) -4,669.056 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account: Assets: Other Investment (USD mn) 0.000 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CF: Financial Account: Assets (USD mn) 1,047.847 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Income: Debit (USD mn) -3,566.041 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: Net Errors & Omission (USD mn) -1,681.174 Jun 2021 quarterly Mar 2008 - Jun 2021
BoP: CA: Services: Credit (USD mn) 876.938 Jun 2021 quarterly Mar 2008 - Jun 2021
External Debt: Government: International Capital Market (USD mn) 10,368.350 Mar 2021 quarterly Mar 2011 - Mar 2021
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 33,468.927 Jun 2021 quarterly Dec 2006 - Jun 2021
Capital Inflow: Foreign Direct Investment (USD) 41,260,230.340 Aug 2021 monthly Jan 2007 - Aug 2021
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 11.4 2018 yearly 2003 - 2018
Money Supply M1 (USD mn) 38,869.341 Sep 2021 monthly Nov 1992 - Sep 2021
Money Supply M2 (USD mn) 98,500.085 Sep 2021 monthly Nov 1992 - Sep 2021
M2 Growth (%) 15.6 Sep 2021 monthly Nov 1993 - Sep 2021
Reserve Requirement Ratio (%) 27.5 Apr 2021 monthly Nov 2005 - Apr 2021
Foreign Exchange Reserves (USD mn) 34,820.5 Mar 2021 monthly Jan 1960 - Mar 2021
Foreign Exchange Reserves: % of GDP (%) 8.569 Sep 2021 quarterly Dec 2010 - Sep 2021
Foreign Exchange Reserves: Months of Import (NA) 5.4 Jun 2021 monthly Jan 2003 - Jun 2021
Gold Reserves (USD mn) 0.062 Jan 2018 monthly Dec 1950 - Jan 2018
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) 114,242.3 Sep 2021 monthly Nov 1992 - Sep 2021
Domestic Credit Growth (%) 18.9 Sep 2021 monthly Nov 1993 - Sep 2021
Private Debt: % of Nominal GDP (%) 11.41 Sep 2020 quarterly Dec 2010 - Sep 2020
Monetary Survey: Liabilities: M2: M1 (NGN mn) 16,553,042.480 Oct 2021 monthly Nov 1992 - Oct 2021
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 24,466,494.220 Sep 2021 monthly Nov 1992 - Sep 2021
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Monetary Survey: Liabilities: Base Money (NGN mn) 12,734,507.910 Oct 2021 monthly Jan 1993 - Oct 2021
Monetary Survey: Liabilities: M2 (NGN mn) 41,369,902.010 Oct 2021 monthly Nov 1992 - Oct 2021
Non Performing Loans to Gross Loans (%) 9.335 Jun 2019 semiannually Dec 2003 - Jun 2019
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -22.4 Dec 2020 monthly Jul 2015 - Dec 2020

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