Imports of goods and services, Percent of GDP (Balance of Payments) in Nigeria
Nigeria: Imports of goods and services, Percent of GDP (Balance of Payments) was 19.81 in 2027. ▲ Rising
Imports of goods and services, Percent of GDP (Balance of Payments) in Nigeria, 2000–2027
Source: International Monetary Fund.
Analysis
The most recent figure for imports of goods and services, percent of gdp (balance of payments) in Nigeria is 19.81, measured in 2027.
Compared with earlier readings it is up 6.5% on the previous year and up 105.8% over ten years.
Over the whole period, imports of goods and services, percent of gdp (balance of payments) in Nigeria peaked at 22.9 in 2024 and was at its lowest, 8.24, in 2016.
Nigeria ranks 41st of 45 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 28 years of available data.
Imports of goods and services, Percent of GDP (Balance of Payments) in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 12.58 | — |
| 2001 | 15.28 | +21.4% |
| 2002 | 11.94 | -21.9% |
| 2003 | 15.09 | +26.4% |
| 2004 | 11.43 | -24.2% |
| 2005 | 13.66 | +19.5% |
| 2006 | 11.45 | -16.2% |
| 2007 | 12.44 | +8.7% |
| 2008 | 13.59 | +9.3% |
| 2009 | 11.62 | -14.5% |
| 2010 | 13.45 | +15.8% |
| 2011 | 15.35 | +14.2% |
| 2012 | 12.29 | -19.9% |
| 2013 | 10.43 | -15.2% |
| 2014 | 10.66 | +2.2% |
| 2015 | 10.34 | -3.0% |
| 2016 | 8.24 | -20.3% |
| 2017 | 9.63 | +16.8% |
| 2018 | 12.06 | +25.3% |
| 2019 | 15.09 | +25.1% |
| 2020 | 12.06 | -20.1% |
| 2021 | 11.07 | -8.2% |
| 2022 | 11.93 | +7.8% |
| 2023 | 13.42 | +12.5% |
| 2024 | 22.9 | +70.6% |
| 2025 | 22.49 | -1.8% |
| 2026 | 18.61 | -17.3% |
| 2027 | 19.81 | +6.5% |
Nigeria compared with similar countries
- Nigeria's 19.81 is below the median for Sub-Saharan Africa, which is 31.7, 62% of the median. (45 countries reporting)
- Nigeria's 19.81 is below the median for lower middle income countries, which is 29.77, 67% of the median. (19 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 12.91 | 11.43 | 15.28 | 10 |
| 2010s | 11.75 | 8.24 | 15.35 | 10 |
| 2020s | 16.54 | 11.07 | 22.9 | 8 |
Countries ranked near Nigeria
More trade data for Nigeria
- Commodity Net Export Price Index, Individual Commodities Weighted by 66.76 (2025)
- Commodity Net Export Price Index, Individual Commodities Weighted by 93.8 (2025)
- Commodity Export Price Index, Individual Commodites Weighted by Ratio 93.58 (2025)
- Commodity Export Price Index, Individual Commodites Weighted by Ratio 63.43 (2025)
- Commodity Import Price Index, Individual Commodites Weighted by Ratio 99.77 (2025)
- Commodity Import Price Index, Individual Commodites Weighted by Ratio 85.81 (2025)
- Imports of low carbon technology products, Percent of GDP 0.5627 (2024)
- Imports of low carbon technology products, US dollar (World), per 6.1 units per person (2024)
- Imports of low carbon technology products, US dollar (World), per 0.0056 units per US$ of GDP (2024)
- Exports of low carbon technology products, US dollar (World), gaps 42.54 million (2024)
Frequently asked questions
- What is imports of goods and services, percent of gdp (balance of payments) in Nigeria?
- Imports of goods and services, percent of gdp (balance of payments) in Nigeria was 19.81 in 2027, according to International Monetary Fund.
- What is the highest imports of goods and services, percent of gdp (balance of payments) recorded in Nigeria?
- The highest recorded value was 22.9 in 2024.
- What is the lowest imports of goods and services, percent of gdp (balance of payments) recorded in Nigeria?
- The lowest recorded value was 8.24 in 2016.
- How does Nigeria rank for imports of goods and services, percent of gdp (balance of payments)?
- Nigeria ranks 41st out of 45 countries with data for 2027.
- Is imports of goods and services, percent of gdp (balance of payments) rising or falling in Nigeria?
- Over the last ten years it is up 105.8%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Imports of goods and services, Percent of GDP (Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6)). Statizoid updates them automatically from the source API.
Download this data
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About this data
Sub-Saharan Africa Regional Economic Outlook (REO) provides information on recent economic developments and prospects for countries in sub-Saharan Africa. Data for the REO for sub-Saharan Africa are prepared in conjunction with the semi-annual World Economic Outlook (WEO) exercises, spring and fall.