Nigeria - External balance on goods and services

External balance on goods and services (current US$)

The latest value for External balance on goods and services (current US$) in Nigeria was ($33,462,690,000) as of 2020. Over the past 60 years, the value for this indicator has fluctuated between $84,544,760,000 in 2012 and ($33,462,690,000) in 2020.

Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 ($322,404,700)
1961 ($317,830,300)
1962 ($259,762,000)
1963 ($245,780,600)
1964 ($344,889,400)
1965 ($300,994,000)
1966 ($267,954,600)
1967 ($329,553,400)
1968 ($302,114,000)
1969 ($267,954,600)
1970 ($352,093,000)
1971 ($256,637,200)
1972 ($101,557,300)
1973 $86,138,620
1974 $2,636,248,000
1975 ($1,248,063,000)
1976 ($2,071,954,000)
1977 $846,673,800
1978 ($1,537,690,000)
1979 $2,719,273,000
1980 $6,535,122,000
1981 ($1,630,869,000)
1982 ($560,254,800)
1983 $992,433,200
1984 $2,440,430,000
1985 $2,803,571,000
1986 $746,639,300
1987 $3,265,904,000
1988 $2,679,868,000
1989 $7,180,830,000
1990 $5,957,341,000
1991 $5,634,930,000
1992 $4,646,676,000
1993 $1,779,839,000
1994 $1,366,603,000
1995 $3,870,118,000
1996 $2,958,142,000
1997 $3,179,519,000
1998 ($1,632,895,000)
1999 $4,874,985,000
2000 $16,008,590,000
2001 $5,049,919,000
2002 $6,146,920,000
2003 $4,372,517,000
2004 $11,745,200,000
2005 $15,866,950,000
2006 $38,876,170,000
2007 $8,642,909,000
2008 $35,792,030,000
2009 $3,545,924,000
2010 $28,918,210,000
2011 $40,320,850,000
2012 $84,544,760,000
2013 $25,693,840,000
2014 $32,718,900,000
2015 ($158,812)
2016 ($9,251,511,000)
2017 ($16,813,900)
2018 ($7,999,635,000)
2019 ($25,014,190,000)
2020 ($33,462,690,000)

External balance on goods and services (current LCU)

The value for External balance on goods and services (current LCU) in Nigeria was -11,940,300,000,000 as of 2020. As the graph below shows, over the past 60 years this indicator reached a maximum value of 13,429,000,000,000 in 2012 and a minimum value of -11,940,300,000,000 in 2020.

Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current local currency.

Source: World Bank national accounts data, and OECD National Accounts data files.

Year Value
1960 -230,293,700
1961 -227,026,200
1962 -185,548,000
1963 -175,561,100
1964 -246,354,500
1965 -215,000,000
1966 -191,400,000
1967 -235,400,000
1968 -215,800,000
1969 -191,400,000
1970 -251,500,000
1971 -290,000,000
1972 -91,300,000
1973 69,600,000
1974 2,080,000,000
1975 -1,030,900,000
1976 -1,632,700,000
1977 789,100,000
1978 -1,517,700,000
1979 2,469,100,000
1980 5,117,001,000
1981 -1,381,346,000
1982 -584,906,000
1983 1,622,628,000
1984 5,508,051,000
1985 7,140,695,000
1986 2,699,101,000
1987 15,170,120,000
1988 17,035,920,000
1989 67,700,860,000
1990 54,533,510,000
1991 67,692,420,000
1992 88,085,180,000
1993 80,626,710,000
1994 71,446,030,000
1995 272,302,000,000
1996 236,651,000,000
1997 257,986,000,000
1998 -143,695,000,000
1999 450,147,000,000
2000 1,628,030,000,000
2001 561,709,000,000
2002 741,185,000,000
2003 565,027,000,000
2004 1,560,800,000,000
2005 2,082,920,000,000
2006 5,001,490,000,000
2007 1,087,350,000,000
2008 4,212,500,000,000
2009 522,395,000,000
2010 4,369,240,000,000
2011 6,285,650,000,000
2012 13,429,000,000,000
2013 4,091,780,000,000
2014 5,394,750,000,000
2015 -31,050,300
2016 -2,345,180,000,000
2017 -5,141,511,000
2018 -2,599,880,000,000
2019 -8,129,610,000,000
2020 -11,940,300,000,000

External balance on goods and services (constant LCU)

The value for External balance on goods and services (constant LCU) in Nigeria was 9,379,100,000,000 as of 2020. As the graph below shows, over the past 10 years this indicator reached a maximum value of 15,084,600,000,000 in 2017 and a minimum value of 4,369,240,000,000 in 2010.

Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in constant local currency.

Source: World Bank national accounts data, and OECD National Accounts data files.

Year Value
2010 4,369,240,000,000
2011 8,739,280,000,000
2012 11,030,400,000,000
2013 6,607,390,000,000
2014 9,411,460,000,000
2015 11,247,600,000,000
2016 13,698,800,000,000
2017 15,084,600,000,000
2018 12,368,200,000,000
2019 13,313,600,000,000
2020 9,379,100,000,000

External balance on goods and services (% of GDP)

External balance on goods and services (% of GDP) in Nigeria was -7.74 as of 2020. Its highest value over the past 60 years was 23.05 in 2000, while its lowest value was -7.74 in 2020.

Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 -7.68
1961 -7.11
1962 -5.29
1963 -4.76
1964 -6.21
1965 -5.12
1966 -4.21
1967 -6.33
1968 -5.81
1969 -4.04
1970 -2.81
1971 -2.80
1972 -0.83
1973 0.57
1974 10.61
1975 -4.49
1976 -5.71
1977 2.35
1978 -4.21
1979 5.75
1980 10.18
1981 -0.99
1982 -0.39
1983 1.02
1984 3.32
1985 3.80
1986 1.36
1987 6.20
1988 5.40
1989 16.32
1990 11.02
1991 11.47
1992 9.72
1993 6.41
1994 4.04
1995 8.78
1996 5.79
1997 5.84
1998 -2.99
1999 8.21
2000 23.05
2001 6.82
2002 6.44
2003 4.17
2004 8.61
2005 9.01
2006 16.47
2007 3.14
2008 10.54
2009 1.20
2010 8.00
2011 9.96
2012 18.56
2013 5.05
2014 5.99
2015 0.00
2016 -2.29
2017 0.00
2018 -2.01
2019 -5.58
2020 -7.74

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts