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 29.308 % in Jun 2023, compared with 27.912 % in the previous quarter.
  • Nigeria Total Trade of Goods & Services: % of Nominal GDP data is updated quarterly, available from Mar 2010 to Jun 2023, with an averaged value of 31.537 %.
  • 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 Jun 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 Jun 2023?

Nigeria Total Trade of Goods & Services: % of Nominal GDP recorded 29.308 % in Jun 2023, compared with 27.912 % in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
29.308 Jun 2023 27.912 Mar 2023 17.199 Dec 2015 56.029 Dec 2011 % quarterly Mar 2010 - Jun 2023

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

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Includes Total Trade of Goods & Services: % of Nominal GDP on 116 economies standardised by CEIC. Instant access to full history data in excel.
country/region Last Frequency Range
Albania (%) 77.792 Dec 2023 quarterly Mar 2008 - Dec 2023
Algeria (%) 46.196 2023 yearly 1950 - 2023
Argentina (%) 25.051 Dec 2023 quarterly Mar 1993 - Dec 2023
Armenia (%) 125.672 Dec 2023 quarterly Dec 1994 - Dec 2023
Australia (%) 45.508 Dec 2023 quarterly Sep 1959 - Dec 2023
Austria (%) 114.564 Dec 2023 quarterly Mar 1964 - Dec 2023
Azerbaijan (%) 86.607 Dec 2023 quarterly Mar 2001 - Dec 2023
Bahrain (%) 159.813 2021 yearly 1975 - 2021
Bangladesh (%) 28.888 2024 yearly 1960 - 2024
Belarus (%) 138.384 Dec 2023 quarterly Mar 1995 - Dec 2023
Belgium (%) 165.943 Dec 2023 quarterly Mar 1980 - Dec 2023
Bolivia (%) 50.841 Dec 2023 quarterly Mar 1990 - Dec 2023
Bosnia and Herzegovina (%) 96.874 Dec 2023 quarterly Mar 2008 - Dec 2023
Botswana (%) 65.526 Dec 2023 quarterly Mar 1994 - Dec 2023
Brazil (%) 32.259 Mar 2024 quarterly Mar 1996 - Mar 2024
Brunei (%) 146.934 Sep 2023 quarterly Mar 2004 - Sep 2023
Bulgaria (%) 124.388 Mar 2024 quarterly Mar 1995 - Mar 2024
Cambodia (%) 123.187 2022 yearly 1988 - 2022
Canada (%) 68.338 Mar 2024 quarterly Mar 1961 - Mar 2024
Chile (%) 64.875 Mar 2024 quarterly Mar 1990 - Mar 2024
China (%) 39.356 Mar 2024 quarterly Mar 1998 - Mar 2024
Colombia (%) 33.989 Mar 2024 quarterly Mar 2005 - Mar 2024
Croatia (%) 97.720 Mar 2024 quarterly Mar 1995 - Mar 2024
Cyprus (%) 164.265 Mar 2024 quarterly Mar 1995 - Mar 2024
Czech Republic (%) 146.108 Mar 2024 quarterly Mar 1995 - Mar 2024
Denmark (%) 133.827 Mar 2024 quarterly Mar 1977 - Mar 2024
Ecuador (%) 55.229 Dec 2023 quarterly Mar 1991 - Dec 2023
Egypt (%) 34.826 Dec 2023 quarterly Sep 2001 - Dec 2023
Estonia (%) 155.222 Mar 2024 quarterly Mar 1995 - Mar 2024
European Union (%) 98.340 Dec 2023 quarterly Mar 1995 - Dec 2023
Finland (%) 78.549 Mar 2024 quarterly Mar 1970 - Mar 2024
France (%) 64.425 Mar 2024 quarterly Mar 1975 - Mar 2024
Georgia (%) 98.420 Dec 2023 quarterly Mar 1996 - Dec 2023
Germany (%) 87.419 Mar 2024 quarterly Mar 1991 - Mar 2024
Ghana (%) 69.037 2023 yearly 1983 - 2023
Greece (%) 89.771 Dec 2023 quarterly Mar 1995 - Dec 2023
Hong Kong SAR, China (%) 350.028 Mar 2024 quarterly Mar 1973 - Mar 2024
Hungary (%) 133.205 Dec 2023 quarterly Mar 1995 - Dec 2023
Iceland (%) 80.152 Mar 2024 quarterly Mar 1995 - Mar 2024
India (%) 45.428 Mar 2024 quarterly Jun 1996 - Mar 2024
Indonesia (%) 41.136 Mar 2024 quarterly Mar 1993 - Mar 2024
Iran (%) 44.699 2020 yearly 1959 - 2020
Ireland (%) 259.702 Dec 2023 quarterly Mar 1995 - Dec 2023
Israel (%) 53.294 Mar 2024 quarterly Mar 1995 - Mar 2024
Italy (%) 66.830 Mar 2024 quarterly Mar 1980 - Mar 2024
Ivory Coast (%) 50.313 2023 yearly 1960 - 2023
Japan (%) 44.761 Mar 2024 quarterly Mar 1955 - Mar 2024
Jordan (%) 80.489 2021 yearly 1967 - 2021
Kazakhstan (%) 43.521 Dec 2023 quarterly Mar 1994 - Dec 2023
Kenya (%) 33.730 2022 yearly 1964 - 2022
South Korea (%) 87.660 Dec 2023 quarterly Mar 1960 - Dec 2023
Kosovo (%) 97.236 Dec 2023 quarterly Mar 2010 - Dec 2023
Kuwait (%) 96.410 2019 yearly 1962 - 2019
Kyrgyzstan (%) 98.747 Sep 2016 quarterly Mar 2000 - Sep 2016
Laos (%) 75.092 2016 yearly 1984 - 2016
Latvia (%) 134.651 Mar 2024 quarterly Mar 1992 - Mar 2024
Lebanon (%) 87.417 2020 yearly 1990 - 2020
Lithuania (%) 150.367 Mar 2024 quarterly Mar 1995 - Mar 2024
Luxembourg (%) 392.412 Dec 2023 quarterly Mar 1995 - Dec 2023
Macau SAR, China (%) 137.359 Mar 2024 quarterly Mar 1998 - Mar 2024
North Macedonia (%) 157.011 Mar 2024 quarterly Mar 2000 - Mar 2024
Malawi (%) 46.339 2019 yearly 1960 - 2019
Malaysia (%) 135.808 Mar 2024 quarterly Mar 1991 - Mar 2024
Malta (%) 319.586 Mar 2024 quarterly Mar 1992 - Mar 2024
Mauritius (%) 99.884 Dec 2023 quarterly Mar 1999 - Dec 2023
Mexico (%) 71.793 Sep 2023 quarterly Mar 1993 - Sep 2023
Moldova (%) 87.779 Dec 2023 quarterly Mar 1995 - Dec 2023
Mongolia (%) 148.579 Mar 2024 quarterly Mar 2005 - Mar 2024
Montenegro (%) 103.656 Dec 2023 quarterly Mar 2010 - Dec 2023
Morocco (%) 96.419 Dec 2023 quarterly Mar 2007 - Dec 2023
Mozambique (%) 135.560 2022 yearly 1991 - 2022
Myanmar (%) 49.145 2019 yearly 2019 - 2019
Nepal (%) 41.638 2024 yearly 1969 - 2024
Netherlands (%) 146.255 Mar 2024 quarterly Mar 1987 - Mar 2024
New Zealand (%) 50.130 Dec 2023 quarterly Jun 1987 - Dec 2023
Nigeria (%) 29.308 Jun 2023 quarterly Mar 2010 - Jun 2023
Norway (%) 75.523 Mar 2024 quarterly Mar 1978 - Mar 2024
Oman (%) 95.667 2021 yearly 1980 - 2021
Pakistan (%) 26.922 2024 yearly 2000 - 2024
Palestinian Territory (%) 87.436 Dec 2023 quarterly Mar 2011 - Dec 2023
Panama (%) 95.912 2022 yearly 1960 - 2022
Paraguay (%) 83.471 Dec 2023 quarterly Mar 1994 - Dec 2023
Peru (%) 51.363 Mar 2024 quarterly Mar 1980 - Mar 2024
Philippines (%) 68.409 Mar 2024 quarterly Mar 1981 - Mar 2024
Poland (%) 105.407 Mar 2024 quarterly Mar 2002 - Mar 2024
Portugal (%) 89.769 Mar 2024 quarterly Mar 1977 - Mar 2024
Qatar (%) 90.320 Jun 2023 quarterly Mar 2013 - Jun 2023
Romania (%) 71.542 Dec 2023 quarterly Mar 1995 - Dec 2023
Russia (%) 38.802 Dec 2023 quarterly Mar 1995 - Dec 2023
Saudi Arabia (%) 61.506 Dec 2023 quarterly Mar 2003 - Dec 2023
Serbia (%) 128.114 Mar 2024 quarterly Mar 1995 - Mar 2024
Singapore (%) 314.541 Mar 2024 quarterly Mar 1975 - Mar 2024
Slovakia (%) 174.370 Dec 2023 quarterly Mar 1990 - Dec 2023
Slovenia (%) 159.315 Mar 2024 quarterly Mar 1995 - Mar 2024
South Africa (%) 61.189 Mar 2024 quarterly Mar 1960 - Mar 2024
Spain (%) 69.928 Mar 2024 quarterly Mar 1980 - Mar 2024
Sri Lanka (%) 41.549 Dec 2023 quarterly Mar 2010 - Dec 2023
Sudan (%) 41.299 2019 yearly 1996 - 2019
Sweden (%) 104.750 Mar 2024 quarterly Mar 1980 - Mar 2024
Switzerland (%) 140.141 Mar 2024 quarterly Mar 1980 - Mar 2024

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Nigeria Key Series

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Includes 184 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 (%) -4.8 Sep 2023 quarterly Dec 2010 - Sep 2023
Consolidated Fiscal Balance (USD mn) -3,071.175 Sep 2023 quarterly Mar 2005 - Sep 2023
National Government Debt (USD mn) 101,710.7 Dec 2023 quarterly Dec 2006 - Dec 2023
Government Debt: % of GDP (%) 39.8 Dec 2023 quarterly Dec 2010 - Dec 2023
Forecast: Government Expenditure (NGN bn) 99,387.936 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 205,772.040 2028 yearly 1990 - 2028
Forecast: Government Revenue (NGN bn) 74,924.965 2029 yearly 1990 - 2029
Federal Govt Expenditure: Capital (NGN bn) 1,043.310 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue (NGN bn) 4,791.390 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Recurrent (NGN bn) 2,791.110 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Balance (NGN bn) -2,347.160 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue: Oil (NGN bn) 814.230 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure (NGN bn) 4,040.180 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Revenue (NGN bn) 1,693.020 Sep 2023 quarterly Mar 2005 - Sep 2023
Government Debt: Domestic (NGN bn) 53,258.012 Dec 2023 quarterly Dec 2005 - Dec 2023
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,888.9 Dec 2023 monthly Jan 2003 - Dec 2023
Total Exports (USD mn) 4,751.7 Dec 2023 monthly Jan 2003 - Dec 2023
Total Exports Growth (%) 82.1 Dec 2023 monthly Jan 2004 - Dec 2023
Aluminum: Exports (USD th) 165,856.846 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 2,876.353 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 480.530 2022 yearly 1995 - 2022
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 108.9 Dec 2023 monthly Jan 2004 - Dec 2023
Imports: Medicament (USD th) 755,360.705 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 508,406.689 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 332.105 Dec 2023 monthly Jan 2003 - Dec 2023
Total Imports from USA (USD mn) 176.789 Dec 2023 monthly Dec 2009 - Dec 2023
Total Exports to China (USD mn) 24.772 Sep 2023 monthly Jan 2007 - Sep 2023
Total Imports from China (USD mn) 700.360 Dec 2023 monthly Jan 2007 - Dec 2023
Imports (NGN mn) 2,429,185.197 Sep 2023 monthly Jan 2003 - Sep 2023
Exports: Crude Oil (NGN mn) 3,404,818.113 Dec 2023 monthly Jan 2003 - Dec 2023
Total Trade (NGN mn) 6,865,948.584 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Growth Rate: MoM (%) -14.880 Mar 2024 monthly Jan 2019 - Mar 2024
Exports: Growth Rate: MoM (%) -5.925 Mar 2024 monthly Jan 2019 - Mar 2024
Exports: Europe: ow Netherlands (NGN mn) 523,568.988 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: America: ow USA (NGN mn) 299,453.208 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow UK (NGN mn) 93,037.938 Dec 2023 monthly Jan 2003 - Dec 2023
Exports (NGN mn) 4,284,566.609 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Mineral Products (NGN mn) 24,389,951.388 2022 yearly 2003 - 2022
Exports: Vegetable Products (NGN mn) 316,546.604 2022 yearly 2003 - 2022
Imports: America: ow USA (NGN mn) 159,407.643 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Europe: ow UK (NGN mn) 71,966.938 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Europe: ow Netherlands (NGN mn) 158,090.619 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Asia: ow China (NGN mn) 631,502.155 Dec 2023 monthly Jan 2007 - Dec 2023
Imports: Europe: ow Germany (NGN mn) 68,742.651 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 810,486.908 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Manufactured Goods (NGN mn) 184,959.341 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Chemicals and Chemical Products (NGN mn) 385,751.608 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Food and Live Animals (NGN mn) 364,417.505 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Machinery and Transport Equipment (NGN mn) 639,703.694 Sep 2023 monthly Jan 2003 - Sep 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 44.0 Sep 2023 quarterly Mar 2008 - Sep 2023
Current Account Balance (USD mn) 1,545.4 Sep 2023 quarterly Mar 2014 - Sep 2023
Current Account Balance: % of GDP (%) 1.9 Sep 2023 quarterly Mar 2014 - Sep 2023
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.1 Sep 2023 quarterly Mar 2010 - Sep 2023
Foreign Portfolio Investment (USD mn) 2,876.923 Sep 2023 quarterly Mar 2008 - Sep 2023
Foreign Portfolio Investment: % of GDP (%) 3.6 Sep 2023 quarterly Mar 2010 - Sep 2023
Foreign Portfolio Investment: Equity Securities (USD mn) 270.9 Sep 2023 quarterly Mar 2008 - Sep 2023
Foreign Portfolio Investment: Debt Securities (USD mn) 2,606.059 Sep 2023 quarterly Mar 2008 - Sep 2023
External Debt (USD mn) 42,495.2 Dec 2023 quarterly Dec 2006 - Dec 2023
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) 0.890 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) -90,273.874 2022 yearly 2005 - 2022
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 42,495.160 Dec 2023 quarterly Dec 2006 - Dec 2023
External Debt: Government: International Capital Market (USD mn) 15,118.350 Dec 2023 quarterly Mar 2011 - Dec 2023
Capital Inflow: Foreign Direct Investment (USD) 20,080,525.860 Nov 2022 monthly Jan 2007 - Nov 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) 25,433.454 Apr 2024 monthly Nov 1992 - Apr 2024
Money Supply M2 (USD mn) 72,921.079 Apr 2024 monthly Nov 1992 - Apr 2024
M2 Growth (%) 74.2 Apr 2024 monthly Nov 1993 - Apr 2024
Reserve Requirement Ratio (%) 45.0 May 2024 monthly Nov 2005 - May 2024
Foreign Exchange Reserves (USD mn) 33,217.6 Dec 2023 monthly Jan 1960 - Dec 2023
Foreign Exchange Reserves: % of GDP (%) 8.942 Dec 2023 quarterly Dec 2010 - Dec 2023
Foreign Exchange Reserves: Months of Import (NA) 11.6 Dec 2023 monthly Jan 2003 - Dec 2023
Gold Reserves (USD mn) 1,485.381 Dec 2023 monthly Dec 1950 - Dec 2023
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) 69,859.2 Apr 2024 monthly Nov 1992 - Apr 2024
Domestic Credit Growth (%) 24.8 Apr 2024 monthly Nov 1993 - Apr 2024
Private Debt: % of Nominal GDP (%) 16.22 Sep 2023 quarterly Dec 2010 - Sep 2023
Monetary Survey: Liabilities: Base Money (NGN mn) 24,387,924.330 Apr 2024 monthly Jan 1993 - Apr 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 63,144,533.150 Apr 2024 monthly Nov 1992 - Apr 2024
Monetary Survey: Liabilities: M2 (NGN mn) 96,963,523.960 Apr 2024 monthly Nov 1992 - Apr 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 33,818,990.810 Apr 2024 monthly Nov 1992 - Apr 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.210 Dec 2022 semiannually Dec 2003 - Dec 2022
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -0.6 Nov 2023 monthly Jul 2015 - Nov 2023

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