Main UN Trade and Development (UNCTAD) website
English

General profile: Nigeria

GENERAL INFORMATION FOR 2024
Exchange rate
Population
Population
Exchange rates
GDP
GDP
232.679 Millions
1 478.612 NGN/US$
-
Land area¹
Land area
CPI growth (%)
CPI growth
GDP growth
GDP growth
(u) 910 770 km²
..
3.00 %
INTERNATIONAL MERCHANDISE TRADE
More data on UNCTADstat
-3.4 %
Merchandise exports growth rate in 2024
Total merchandise trade
(millions of US$)
2005
2010
2015
2024
Merchandise exports
50 467
(e) 84 000
50 216
53 320
Merchandise imports
20 754
44 235
(e) 44 700
41 263
Merchandise trade balance
29 713
(e) 39 765
(e) 5 516
12 056
Export structure by product group in 2024
(as % of total exports)
7 %7 %86 %86 %7 %7 %
Top 5 partners in 2024
(exports, millions of US$)
4 7194 6173 9103 3783 3344 7194 6173 9103 3783 334
INTERNATIONAL TRADE IN SERVICES
More data on UNCTADstat
Total trade in services²
(millions of US$)
2005
2010
2015
2024
Services exports
1 793
3 081
3 160
4 565
Services imports
6 623
21 333
19 613
17 926
Services trade balance
-4 831
-18 252
-16 453
-13 361
Services exports by main category²
(as % of total services)
2005
2010
2015
2024
Transport
74.6
63.9
57.2
48.1
Travel
3.0
18.5
12.8
6.6
Other services
22.3
17.6
30.0
45.3
TRADE INDICES
More data on UNCTADstat
848488807111911187681001811571971971601151571351291271271471217910511510089100146154153152133113155135132
ECONOMIC TRENDS
More data on UNCTADstat
+3.0 %
Gross domestic product growth rate in 2024
Economic indicators
(millions of US$ unless otherwise specified)
2005
2010
2015
2024
GDP, current
176 134
374 766
499 950
-
GDP per capita, current US$
1 215
2 249
2 622
-
Real GDP growth, y-on-y, %
6.44
9.70
2.65
3.00
Current account balance, % of GDP
20.74
3.50
-3.09
4.59
Exchange rate (/US$)
131.274
150.298
192.440
1 478.612
GDP by expenditure in 2023
(as % of total GDP)
63.34.336.116.620.263.34.336.116.620.2
FDI AND EXTERNAL FINANCIAL RESOURCES
More data on UNCTADstat
-0.1 %
FDI outflows as % of GDP in 2024
Financial flows
(millions of US$ unless otherwise specified)
2005
2010
2015
2024
FDI inflows
4 978.26
6 098.96
3 064.17
1 080.31
FDI outflows
14.62
922.72
1 435.20
-407.95
Personal remittances, % of GDP
8.31
5.27
4.13
5.68
Financial flows trends
(millions of US$)
21 293.019 549.520 127.619 483.417 207.523 809.324 311.022 037.019 697.920 626.020 999.120 797.120 542.920 616.819 744.818 370.819 200.018 014.416 932.11 0801 8738953 3132 3852 3057752 4133 4533 0644 6945 6087 1278 9156 0998 6508 2496 0874 8984 9782 1272 1712 0401 2771 310FDI Inwards flowsFDI Inwards flowsFDI Inwards flowsMigrant's remittances receiptsMigrant's remittances receiptsMigrant's remittances receipts
TRADE IN GOODS AND SERVICES
More data on UNCTADstat
Trade balance indicators²
(as % and index)
2005
2010
2015
2024
Balance, % of GDP
13.83
3.16
-4.58
-
Balance, % of imports
74.69
16.72
-31.83
-0.34
Normalized balance
0.272
0.077
-0.189
-0.002
Trade openness²
(sum of imports and exports as % of GDP)
34312726363327212430343846413745414051
LIVING AREA
Population by living area in 2024
(% of population)
Urban 55%Urban 55%Rural 45%Rural 45%
OTHER INDICATORS
More data on UNCTADstat
0.289 %
Share of the total world merchant fleet in 2024
Maritime transport indicators
 
2005
2010
2015
2024
Merchant fleet, national flag (thousands of DWT)
691
989
4 233
6 825
Container port throughput (TEU)
..
1 162 000
1 544 183
..
Information economy indicators
(as % of)
2005
2010
2015
2024
Share of ICT goods, % of total exports
-
0.00
0.00
0.00
Share of ICT goods, % of total imports
-
6.18
4.50
2.19
Share of workforce involved in the ICT sector
..
..
..
..
Source: UNCTADstat (http://unctadstat.unctad.org)
Notes:
1
Land area refers to the total area of a country excluding area under inland water bodies. It differs from the country area, that includes area under inland water bodies, but excludes offshore territorial waters.
2
Statistics presented correspond to the 6th edition of the IMF Balance of Payments and International Investment Position Manual (BPM6, 2009).
e
Estimated.
u
Estimated. Data refers to 2020.
Symbols for missing values:
0
Zero means that the amount is nil or negligible
..
No value reported or collected
_
Not applicable
...
Not available, including no quotation
#
Non-relevant calculation
-
Not publishable
***
Negative accumulation of flows; Value included in regional and global totals
Abbreviations & acronyms:
DWT:
Dead weight tons
FDI:
Foreign direct investment
GDP:
Gross domestic product
ICT:
Information and communication technology
TEU:
Twenty foot equivalent unit
US$:
United States dollar
Disclaimer:
The designations employed and the presentation of the material on UNCTADstat do not imply the expression of any opinion whatsoever on the part of the secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries.
Where the designations "economy" or "country or area" appear in texts or tables, they cover regions, countries, territories, cities or areas.

UNCTAD strives for the highest level of accuracy and is committed to promptly correcting any errors on its part. It does not guarantee or make any express or implied representations regarding the accuracy, reliability, correctness, fitness for use for a particular purpose, or otherwise, whatsoever, of any of the tables in UNCTADstat.
Generation date: 02 December 2025