General profile: Nigeria

GENERAL INFORMATION FOR 2021
Population
Population
Exchange rates
Exchange rate
GDP
GDP
213.401 Millions
381.000 NGN/US$
459 031 Millions current US$
Land area
Land area¹
CPI growth (%)
CPI growth
GDP growth
GDP growth
(q) 910 770 km²
16.95 %
2.95 %
INTERNATIONAL MERCHANDISE TRADE
More data on UNCTADstat
+31.7 %
Merchandise exports growth rate in 2021
Total merchandise trade
(millions of US$)
2005
2010
2015
2021
Merchandise exports
50 467
(e) 84 000
50 216
46 932
Merchandise imports
20 754
44 235
(e) 44 700
51 941
Merchandise trade balance
29 713
(e) 39 765
(e) 5 516
-5 008
Export structure by product group in 2021
(as % of total exports)
6 %6 %6 %6 %88 %88 %
Top 5 partners in 2021
(exports, millions of US$)
8 9895 1942 7592 7332 6108 9895 1942 7592 7332 610
INTERNATIONAL TRADE IN SERVICES
More data on UNCTADstat
Total trade in services²
(millions of US$)
2005
2010
2015
2021
Services exports
1 793
3 081
3 160
(e) 4 082
Services imports
6 623
21 332
19 613
(e) 15 165
Services trade balance
-4 831
-18 252
-16 453
(e) -11 083
Services exports by main category²
(as % of total services)
2005
2010
2015
2021
Transport
74.6
63.9
57.2
(e) 54.9
Travel
3.0
18.5
12.8
(e) 7.2
Other services
22.3
17.6
30.0
(e) 37.9
TRADE INDICES
More data on UNCTADstat
77701201138970100179154191192157110155134129119986753536012781111122103871001501581581561321101551271271148774676673
ECONOMIC TRENDS
More data on UNCTADstat
+2.9 %
Gross domestic product growth rate in 2021
Economic indicators
(millions of US$ unless otherwise specified)
2005
2010
2015
2021
GDP, current
176 134
363 360
494 583
459 031
GDP per capita, current US$
1 254
2 258
2 688
2 151
Real GDP growth, y-on-y, %
6.44
8.01
2.65
2.95
Current account balance, % of GDP
20.74
3.61
-3.12
(e) -0.81
Exchange rate (/US$)
131.274
150.298
192.440
381.000
GDP by expenditure in 2020
(as % of total GDP)
69.68.729.48.816.669.68.729.48.816.6
FDI AND EXTERNAL FINANCIAL RESOURCES
More data on UNCTADstat
+0.3 %
FDI outflows as % of GDP in 2021
Financial flows
(millions of US$ unless otherwise specified)
2005
2010
2015
2021
FDI inflows
4 978.26
6 098.96
3 064.17
4 844.31
FDI outflows
14.62
922.72
1 435.20
1 236.50
Personal remittances, % of GDP
8.31
5.43
4.17
..
Financial flows trends
(millions of US$)
17 207.523 809.324 311.022 037.019 697.920 626.020 999.120 797.120 542.920 616.819 744.818 370.819 200.018 014.416 932.14 8442 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
2021
Balance, % of GDP
13.83
3.26
-4.63
(e) -3.12
Balance, % of imports
74.69
16.72
-31.83
(e) -21.95
Normalized balance
0.272
0.077
-0.189
(e) -0.123
Trade openness²
(sum of imports and exports as % of GDP)
2526363327212430343947423745414051
LIVING AREA
Population by living area in 2021
(% of population)
Urban
53%Urban 53%Rural
47%Rural 47%
OTHER INDICATORS
More data on UNCTADstat
0.231 %
Share of the total world merchant fleet in 2021
Maritime transport indicators
 
2005
2010
2015
2021
Merchant fleet, national flag (thousands of DWT)
691
989
4 233
4 930
Liner shipping connectivity index (maximum 2006 = 100 for China)
..
20.30
22.28
21.40
Container port throughput (TEU)
..
1 232 000
1 400 000
..
Information economy indicators
(as % of)
2005
2010
2015
2021
Share of ICT goods, % of total exports
..
0.00
0.00
0.09
Share of ICT goods, % of total imports
..
6.62
4.70
2.76
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.
q
Estimated. Data refers to 2020.
Symbols for missing values:
0
Zero means that the amount is nil or negligible
..
Not available or not separately reported
_
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: 20 October 2022