Debt service as a proportion of exports of goods, services and in Nigeria
Nigeria: Debt service as a proportion of exports of goods, services and was 7.6% in 2023. ◆ Volatile
Latest (2023)
7.6%
Change on year
up 75.9%
World rank
64th
of 125 countries
All-time high
15.4%
in 2005
All-time low
0.3%
in 2012
Years of data
24
2000–2023
Debt service as a proportion of exports of goods, services and in Nigeria, 2000–2023
Source: United Nations Statistics Division, SDG Global Database.
Analysis
The most recent figure for debt service as a proportion of exports of goods, services and in Nigeria is 7.6%, measured in 2023.
That represents a change of up 75.9% on the previous year and up 1,815.1% over ten years.
Over the whole period, debt service as a proportion of exports of goods, services and in Nigeria peaked at 15.4% in 2005 and was at its lowest, 0.3%, in 2012.
That places Nigeria 64th out of 125 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Debt service as a proportion of exports of goods, services and in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 8.2% | — |
| 2001 | 12.5% | +51.8% |
| 2002 | 7.8% | -37.2% |
| 2003 | 5.9% | -24.3% |
| 2004 | 4.5% | -24.6% |
| 2005 | 15.4% | +244.7% |
| 2006 | 11.0% | -28.7% |
| 2007 | 1.4% | -86.9% |
| 2008 | 0.5% | -67.0% |
| 2009 | 0.7% | +53.3% |
| 2010 | 0.4% | -48.3% |
| 2011 | 0.3% | -8.9% |
| 2012 | 0.3% | -26.0% |
| 2013 | 0.4% | +55.6% |
| 2014 | 0.3% | -22.1% |
| 2015 | 0.8% | +159.1% |
| 2016 | 0.9% | +12.8% |
| 2017 | 0.7% | -26.6% |
| 2018 | 2.1% | +219.8% |
| 2019 | 2.0% | -7.2% |
| 2020 | 3.8% | +95.3% |
| 2021 | 5.1% | +33.2% |
| 2022 | 4.3% | -15.5% |
| 2023 | 7.6% | +75.9% |
Nigeria compared with similar countries
- Nigeria's 7.6% is above the median for lower middle income countries, which is 7.0%, 1.1× the median. (41 countries reporting)
- Nigeria's 7.6% is below the median for Sub-Saharan Africa, which is 9.0%, 84% of the median. (40 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6.8% | 0.5% | 15.4% | 10 |
| 2010s | 0.8% | 0.3% | 2.1% | 10 |
| 2020s | 5.2% | 3.8% | 7.6% | 4 |
Countries ranked near Nigeria
More economy & growth data for Nigeria
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.19 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0041 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.01 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 148.16 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0138 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 16.86 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is debt service as a proportion of exports of goods, services and in Nigeria?
- Debt service as a proportion of exports of goods, services and in Nigeria was 7.6% in 2023, according to United Nations Statistics Division, SDG Global Database.
- What is the highest debt service as a proportion of exports of goods, services and recorded in Nigeria?
- The highest recorded value was 15.4% in 2005.
- What is the lowest debt service as a proportion of exports of goods, services and recorded in Nigeria?
- The lowest recorded value was 0.3% in 2012.
- How does Nigeria rank for debt service as a proportion of exports of goods, services and?
- Nigeria ranks 64th out of 125 countries with data for 2023.
- Is debt service as a proportion of exports of goods, services and rising or falling in Nigeria?
- Over the last ten years it is up 1,815.1%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Debt service as a proportion of exports of goods, services and primary income (%). Statizoid updates them automatically from the source API.
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