Debt service as a share of exports of good and services in Nigeria
Nigeria: Debt service as a share of exports of good and services was 7.6% in 2023. ◆ Volatile
Debt service as a share of exports of good and services in Nigeria, 2000–2023
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
The most recent figure for debt service as a share of exports of good and services in Nigeria is 7.6%, measured in 2023.
Compared with earlier readings it is up 76.0% on the previous year and up 1,792.5% over ten years.
Over the whole period, debt service as a share of exports of good and services in Nigeria peaked at 15.4% in 2005 and was at its lowest, 0.2%, in 2012.
Nigeria ranks 61st of 116 countries on this measure, 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 share of exports of good and services in Nigeria, year by year
| Year | % | 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% | -66.7% |
| 2009 | 0.7% | +52.1% |
| 2010 | 0.4% | -47.9% |
| 2011 | 0.3% | -10.5% |
| 2012 | 0.2% | -26.5% |
| 2013 | 0.4% | +60.0% |
| 2014 | 0.3% | -22.5% |
| 2015 | 0.8% | +158.1% |
| 2016 | 0.9% | +12.5% |
| 2017 | 0.7% | -26.7% |
| 2018 | 2.1% | +219.7% |
| 2019 | 2.0% | -7.1% |
| 2020 | 3.8% | +94.9% |
| 2021 | 5.1% | +33.2% |
| 2022 | 4.3% | -15.5% |
| 2023 | 7.6% | +76.0% |
Nigeria compared with similar countries
- Nigeria's 7.6% is above the median for lower middle income countries, which is 7.1%, 1.1× the median. (43 countries reporting)
- Nigeria's 7.6% is below the median for Sub-Saharan Africa, which is 9.1%, 84% of the median. (43 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6.8% | 0.5% | 15.4% | 10 |
| 2010s | 0.8% | 0.2% | 2.1% | 10 |
| 2020s | 5.2% | 3.8% | 7.6% | 4 |
Countries ranked near Nigeria
- 59 Brazil 7.7% compare
- 60 Bosnia and Herzegovina 7.6% compare
- 62 Gambia 7.5% compare
- 63 Nicaragua 7.1% compare
- 64 Uzbekistan 7.0% compare
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 share of exports of good and services in Nigeria?
- Debt service as a share of exports of good and services in Nigeria was 7.6% in 2023, according to World Bank – processed by Our World in Data.
- What is the highest debt service as a share of exports of good and services recorded in Nigeria?
- The highest recorded value was 15.4% in 2005.
- What is the lowest debt service as a share of exports of good and services recorded in Nigeria?
- The lowest recorded value was 0.2% in 2012.
- How does Nigeria rank for debt service as a share of exports of good and services?
- Nigeria ranks 61st out of 116 countries with data for 2023.
- Is debt service as a share of exports of good and services rising or falling in Nigeria?
- Over the last ten years it is up 1,792.5%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Debt service as a share of exports of good and services. Statizoid updates them automatically from the source API.
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About this data
Debt service as a proportion of exports of goods, services and primary income (%).