For every $1 Nigeria earned from exporting digital services between 2005 and 2024, it spent almost $10 on imports

  • Nigeria exported $10.81 billion in digital services between 2005 and 2024.
  • Imports during the same period reached $105.34 billion.
  • The result was a trade deficit of $94.53 billion over 20 years.
  • Exports rose from just $40 million in 2005 to $1.55 billion in 2024.
  • Imports were almost ten times larger than exports, showing a persistent imbalance.

Nigeria is heavily dependent on foreign digital services and has not yet built a strong export base to compete in the global digital economy.From 2005 to 2024, Nigeria exported $10.81 billion in digital services but imported $105.34 billion, resulting in a massive trade deficit of $94.53 billion. Exports grew gradually from $40 million in 2005 to $1.55 billion in 2024, yet imports consistently outweighed them, peaking at $12.36 billion in 2019.

The widening gap reflects Nigeria's limited ability to capture value from the global digital economy.

Source:

World Trade Organization (WTO)

Period:

1970-2023
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