Merchandise exports by the reporting economy (current US$) in Nigeria
Nigeria: Merchandise exports by the reporting economy (current US$) was 62.94 billion current US$ in 2023. ◆ Volatile
Latest (2023)
62.94 billion current US$
Change on year
down 25.4%
World rank
49th
of 206 countries
All-time high
139.21 billion current US$
in 2011
All-time low
412.40 million current US$
in 1960
Years of data
63
1960–2023
Merchandise exports by the reporting economy in Nigeria, 1960–2023
Source: Staff estimates, World Bank (WB). Measured in current US$.
Analysis
Nigeria recorded 62.94 billion current US$ for merchandise exports by the reporting economy in 2023.
That represents a change of down 25.4% on the previous year and down 44.0% over ten years.
Over the whole period, merchandise exports by the reporting economy in Nigeria peaked at 139.21 billion current US$ in 2011 and was at its lowest, 412.40 million current US$, in 1960.
Nigeria ranks 49th of 206 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Merchandise exports by the reporting economy (current US$) in Nigeria, year by year
| Year | current US$ | Change |
|---|---|---|
| 1960 | 412.40 million current US$ | — |
| 1961 | 435.20 million current US$ | +5.5% |
| 1962 | 455.50 million current US$ | +4.7% |
| 1963 | 511.50 million current US$ | +12.3% |
| 1964 | 570.00 million current US$ | +11.4% |
| 1965 | 712.10 million current US$ | +24.9% |
| 1966 | 746.30 million current US$ | +4.8% |
| 1967 | 644.50 million current US$ | -13.6% |
| 1968 | 544.00 million current US$ | -15.6% |
| 1969 | 828.00 million current US$ | +52.2% |
| 1970 | 1.13 billion current US$ | +37.0% |
| 1971 | 1.67 billion current US$ | +47.5% |
| 1972 | 2.02 billion current US$ | +20.9% |
| 1973 | 2.99 billion current US$ | +48.0% |
| 1974 | 7.90 billion current US$ | +163.9% |
| 1975 | 6.69 billion current US$ | -15.4% |
| 1976 | 8.31 billion current US$ | +24.3% |
| 1977 | 9.29 billion current US$ | +11.8% |
| 1978 | 9.12 billion current US$ | -1.8% |
| 1979 | 14.99 billion current US$ | +64.3% |
| 1981 | 14.92 billion current US$ | -0.5% |
| 1982 | 12.10 billion current US$ | -18.9% |
| 1983 | 9.89 billion current US$ | -18.3% |
| 1984 | 10.91 billion current US$ | +10.3% |
| 1985 | 13.01 billion current US$ | +19.3% |
| 1986 | 5.11 billion current US$ | -60.7% |
| 1987 | 7.28 billion current US$ | +42.4% |
| 1988 | 6.81 billion current US$ | -6.3% |
| 1989 | 8.12 billion current US$ | +19.2% |
| 1990 | 10.22 billion current US$ | +25.9% |
| 1991 | 7.62 billion current US$ | -25.5% |
| 1992 | 12.25 billion current US$ | +60.8% |
| 1993 | 11.47 billion current US$ | -6.4% |
| 1994 | 11.19 billion current US$ | -2.5% |
| 1995 | 12.14 billion current US$ | +8.5% |
| 1996 | 16.04 billion current US$ | +32.2% |
| 1997 | 16.46 billion current US$ | +2.6% |
| 1998 | 11.28 billion current US$ | -31.5% |
| 1999 | 13.16 billion current US$ | +16.7% |
| 2000 | 26.99 billion current US$ | +105.2% |
| 2001 | 17.79 billion current US$ | -34.1% |
| 2002 | 18.28 billion current US$ | +2.7% |
| 2003 | 34.45 billion current US$ | +88.5% |
| 2004 | 48.81 billion current US$ | +41.7% |
| 2005 | 71.82 billion current US$ | +47.2% |
| 2006 | 84.72 billion current US$ | +18.0% |
| 2007 | 96.20 billion current US$ | +13.5% |
| 2008 | 125.26 billion current US$ | +30.2% |
| 2009 | 71.04 billion current US$ | -43.3% |
| 2010 | 103.80 billion current US$ | +46.1% |
| 2011 | 139.21 billion current US$ | +34.1% |
| 2012 | 134.51 billion current US$ | -3.4% |
| 2013 | 112.29 billion current US$ | -16.5% |
| 2014 | 101.29 billion current US$ | -9.8% |
| 2015 | 55.08 billion current US$ | -45.6% |
| 2016 | 37.67 billion current US$ | -31.6% |
| 2017 | 49.46 billion current US$ | +31.3% |
| 2018 | 66.23 billion current US$ | +33.9% |
| 2019 | 64.53 billion current US$ | -2.6% |
| 2020 | 35.52 billion current US$ | -45.0% |
| 2021 | 46.60 billion current US$ | +31.2% |
| 2022 | 84.35 billion current US$ | +81.0% |
| 2023 | 62.94 billion current US$ | -25.4% |
Nigeria compared with similar countries
- Nigeria's 62.94 billion current US$ is above the median for lower middle income countries, which is 5.68 billion current US$, 11.1× the median. (47 countries reporting)
- Nigeria's 62.94 billion current US$ is above the median for Sub-Saharan Africa, which is 4.14 billion current US$, 15.2× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 585.95 million current US$ | 412.40 million current US$ | 828.00 million current US$ | 10 |
| 1970s | 6.41 billion current US$ | 1.13 billion current US$ | 14.99 billion current US$ | 10 |
| 1980s | 9.79 billion current US$ | 5.11 billion current US$ | 14.92 billion current US$ | 9 |
| 1990s | 12.18 billion current US$ | 7.62 billion current US$ | 16.46 billion current US$ | 10 |
| 2000s | 59.54 billion current US$ | 17.79 billion current US$ | 125.26 billion current US$ | 10 |
| 2010s | 86.41 billion current US$ | 37.67 billion current US$ | 139.21 billion current US$ | 10 |
| 2020s | 57.35 billion current US$ | 35.52 billion current US$ | 84.35 billion current US$ | 4 |
Countries ranked near Nigeria
More private sector data for Nigeria
- Merchandise trade 33.3% (2025)
- Food imports 11.0% (2024)
- Manufactures imports 46.0% (2024)
- Merchandise imports 41.45 billion current US$ (2025)
- Food exports 6.0% (2024)
- Manufactures exports 3.5% (2024)
- Merchandise exports 55.47 billion current US$ (2025)
- Merchandise exports (current US$), per capita 233.52 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1907 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 4.03 % change on previous year (2025)
Frequently asked questions
- What is merchandise exports by the reporting economy in Nigeria?
- Merchandise exports by the reporting economy in Nigeria was 62.94 billion current US$ in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise exports by the reporting economy recorded in Nigeria?
- The highest recorded value was 139.21 billion current US$ in 2011.
- What is the lowest merchandise exports by the reporting economy recorded in Nigeria?
- The lowest recorded value was 412.40 million current US$ in 1960.
- How does Nigeria rank for merchandise exports by the reporting economy?
- Nigeria ranks 49th out of 206 countries with data for 2023.
- Is merchandise exports by the reporting economy rising or falling in Nigeria?
- Over the last ten years it is down 44.0%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Merchandise exports by the reporting economy (current US$). Statizoid updates them automatically from the source API.
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About this data
Merchandise exports by the reporting economy are the total merchandise exports by the reporting economy to the rest of the world, as reported in the IMF's Direction of trade database. Data are in current US$.