Services, Debit/Expenditure in Nigeria
Nigeria: Services, Debit/Expenditure was 17.93 billion in 2024. ▲ Rising
Services, Debit/Expenditure in Nigeria, 2005–2024
Source: International Monetary Fund.
Analysis
The most recent figure for services, debit/expenditure in Nigeria is 17.93 billion, measured in 2024.
The figure is up 1.4% on the previous year and down 28.0% over ten years.
Over the whole period, services, debit/expenditure in Nigeria peaked at 38.71 billion in 2019 and was at its lowest, 6.62 billion, in 2005.
That places Nigeria 54th out of 198 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 20 years of available data.
Services, Debit/Expenditure in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 6.62 billion | — |
| 2006 | 13.92 billion | +110.2% |
| 2007 | 18.35 billion | +31.8% |
| 2008 | 24.37 billion | +32.8% |
| 2009 | 18.70 billion | -23.3% |
| 2010 | 21.33 billion | +14.1% |
| 2011 | 24.57 billion | +15.2% |
| 2012 | 23.94 billion | -2.6% |
| 2013 | 21.80 billion | -8.9% |
| 2014 | 24.91 billion | +14.3% |
| 2015 | 19.61 billion | -21.3% |
| 2016 | 11.76 billion | -40.0% |
| 2017 | 18.26 billion | +55.3% |
| 2018 | 30.88 billion | +69.1% |
| 2019 | 38.71 billion | +25.3% |
| 2020 | 19.83 billion | -48.8% |
| 2021 | 16.06 billion | -19.0% |
| 2022 | 18.82 billion | +17.2% |
| 2023 | 17.68 billion | -6.1% |
| 2024 | 17.93 billion | +1.4% |
Nigeria compared with similar countries
- Nigeria's 17.93 billion is above the median for lower middle income countries, which is 2.37 billion, 7.6× the median. (46 countries reporting)
- Nigeria's 17.93 billion is above the median for Sub-Saharan Africa, which is 1.66 billion, 10.8× the median. (43 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 16.39 billion | 6.62 billion | 24.37 billion | 5 |
| 2010s | 23.58 billion | 11.76 billion | 38.71 billion | 10 |
| 2020s | 18.06 billion | 16.06 billion | 19.83 billion | 5 |
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 services, debit/expenditure in Nigeria?
- Services, debit/expenditure in Nigeria was 17.93 billion in 2024, according to International Monetary Fund.
- What is the highest services, debit/expenditure recorded in Nigeria?
- The highest recorded value was 38.71 billion in 2019.
- What is the lowest services, debit/expenditure recorded in Nigeria?
- The lowest recorded value was 6.62 billion in 2005.
- How does Nigeria rank for services, debit/expenditure?
- Nigeria ranks 54th out of 198 countries with data for 2024.
- Is services, debit/expenditure rising or falling in Nigeria?
- Over the last ten years it is down 28.0%. 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 Services, Debit/Expenditure (US dollar). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 20 observations, free to reuse under IMF Terms and Conditions (attribution required).
About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.