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
