Nigeria: Debt service to exports (%)

Key figures

What the numbers say

In 2024, Nigeria's debt service to exports (%) rose 1.87 percentage points on 2023 (from 7.55% to 9.42%).

Across the 24 yearly changes before that (2000 to 2023), the average change was +0.02 percentage points and a typical year strayed about 3.59 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 10.94 percentage points in 2005 and the biggest yearly fall was 9.54 percentage points in 2007. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 0.93 percentage points a year. A straight line explains 88% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Nigeria had the 39th highest value of the 100 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Nigeria in the 2024 ranking

• Mozambique — 35th of 100: 10.01%
• Jordan — 36th of 100: 9.97%
• Brazil — 37th of 100: 9.91%
• Mauritania — 39th of 100: 9.37%
• Burundi — 40th of 100: 9.36%
• Nepal — 41st of 100: 9.34%

What this measures

Debt service, the sum of principal repayments and interest actually paid in currency, goods, or services, is expressed as a percentage of exports of goods and services--all transactions between residents of a country and the rest of the world involving a change of ownership from residents to nonresidents of general merchandise, net exports of goods under merchanting, nonmonetary gold, and services. This series differs from the standard debt to exports series in that it covers only long-term public and publicly guaranteed debt and repayments (repurchases and charges) to the IMF.

All 26 values

Debt service to exports (%) in nearby economies

• Angola — 27.64% (2024)
• Benin — 16.44% (2023)
• Botswana — 4.53% (2024)
• Burkina Faso — 4.62% (2024)
• Burundi — 9.36% (2024)
• Cabo Verde — 10.8% (2024)
• Cameroon — 17.27% (2024)
• Comoros — 11.54% (2023)
• Congo, Dem. Rep. — 1.3% (2024)
• Congo, Rep. — 6.31% (2021)
• Côte d'Ivoire — 21.71% (2024)
• Eswatini

More economic policy & debt data for Nigeria

• Total reserves, including gold (current US$) — US$46.02 billion (2025)
• Total reserves, excluding gold (current US$) — US$43.01 billion (2025)
• GDP (current US$) — US$290.79 billion (2025)
• GDP (current LCU) — 441.54 trillion (2025)
• GDP (constant 2015 US$) — US$562.59 billion (2025)
• GDP (constant LCU) — 226.52 trillion (2025)
• GDP per capita (current US$) — US$1,224 (2025)
• GDP per capita (current LCU) — 1.86 million (2025)
• GDP per capita (constant 2015 US$) — US$2,369 (2025)
• GDP per capita (constant LCU) — 953,654 (2025)
• GDP (annual % growth)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Nigeria's debt service to exports (%)?

9.42% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1999?

It is up 2.45 percentage points from 6.97% in 1999. The highest value was 15.41% in 2005 and the lowest 0.25% in 2012.

How does Nigeria rank?

39th highest of 100 economies with data for 2024.

Is the latest change in debt service to exports (%) unusual for Nigeria?

In 2024, Nigeria's debt service to exports (%) rose 1.87 percentage points on 2023 (from 7.55% to 9.42%). Across the 24 yearly changes before that (2000 to 2023), the average change was +0.02 percentage points and a typical year strayed about 3.59 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator DT.TDS.DPPF.XP.ZS, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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