Nigeria: Total debt service (% of exports of goods, services and primary income)

Key figures

What the numbers say

In 2024, Nigeria's total debt service (% of exports of goods, services and primary income) rose 6.52 percentage points on 2023 (from 15.39% to 21.91%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.07 percentage points and a typical year strayed about 4.37 percentage points from that (the standard deviation). This year's change was 1.5 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 16.23 percentage points in 1988 and the biggest yearly fall was 23.91 percentage points in 1987. 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 1.33 percentage points a year. A straight line explains 68% 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 30th highest value of the 109 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

• Türkiye — 26th of 109: 23.43%
• Tonga — 27th of 109: 22.82%
• Dominican Republic — 28th of 109: 22.04%
• Ecuador — 30th of 109: 21.86%
• Nicaragua — 31st of 109: 21.39%
• Lebanon — 32nd of 109: 21.05%

What this measures

Total debt service to exports of goods, services and primary income. Total debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 48 values

Total debt service (% of exports of goods, services and primary income) in nearby economies

• Angola — 28.91% (2024)
• Benin — 26.81% (2024)
• Botswana — 4.72% (2024)
• Burkina Faso — 13.6% (2024)
• Burundi — 10.96% (2023)
• Cabo Verde — 12.62% (2024)
• Cameroon — 20.15% (2023)
• Central African Republic — 13.4% (2024)
• Chad

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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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Nigeria's total debt service (% of exports of goods, services and primary income)?

21.91% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1977?

It is up 20.87 percentage points from 1.04% in 1977. The highest value was 38.04% in 1986 and the lowest 0.68% in 2011.

How does Nigeria rank?

30th highest of 109 economies with data for 2024.

Is the latest change in total debt service (% of exports of goods, services and primary income) unusual for Nigeria?

In 2024, Nigeria's total debt service (% of exports of goods, services and primary income) rose 6.52 percentage points on 2023 (from 15.39% to 21.91%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.07 percentage points and a typical year strayed about 4.37 percentage points from that (the standard deviation). This year's change was 1.5 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator DT.TDS.DECT.EX.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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