Bound rate, simple mean, all products in Nigeria
Nigeria: Bound rate, simple mean, all products was 121.3% in 2021. ▲ Rising
Bound rate, simple mean, all products in Nigeria, 1995–2021
Source: Staff estimates, World Bank (WB). Measured in %.
Analysis
Nigeria recorded 121.3% for bound rate, simple mean, all products in 2021. That is the highest value across all 21 years on record.
Compared with earlier readings it is up 2.7% over ten years.
Over the whole period, bound rate, simple mean, all products in Nigeria peaked at 121.3% in 2020 and was at its lowest, 114.8%, in 1996.
That places Nigeria 2nd out of 157 countries with data for 2021, putting it in the top 10%.
The long-run direction has been consistently rising across the 21 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 114.8% | 114.8% | 115.0% | 5 |
| 2000s | 115.3% | 114.8% | 118.1% | 8 |
| 2010s | 119.0% | 118.1% | 120.9% | 6 |
| 2020s | 121.3% | 121.3% | 121.3% | 2 |
Countries ranked near Nigeria
More private sector data for Nigeria
- Merchandise exports 55.47 billion current US$ (2025)
- Manufactures exports 3.5% (2024)
- Food exports 6.0% (2024)
- Merchandise imports 41.45 billion current US$ (2025)
- Manufactures imports 46.0% (2024)
- Food imports 11.0% (2024)
- Merchandise trade 33.3% (2025)
- Commercial service exports 4.55 billion current US$ (2025)
- Transport services 35.0% (2025)
- Computer, communications and other services 24.6% (2025)
Frequently asked questions
- What is bound rate, simple mean, all products in Nigeria?
- Bound rate, simple mean, all products in Nigeria was 121.3% in 2021, according to Staff estimates, World Bank (WB).
- What is the highest bound rate, simple mean, all products recorded in Nigeria?
- The highest recorded value was 121.3% in 2020.
- What is the lowest bound rate, simple mean, all products recorded in Nigeria?
- The lowest recorded value was 114.8% in 1996.
- How does Nigeria rank for bound rate, simple mean, all products?
- Nigeria ranks 2nd out of 157 countries with data for 2021.
- Is bound rate, simple mean, all products rising or falling in Nigeria?
- Over the last ten years it is up 2.7%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Bound rate, simple mean, all products (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 21 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Simple mean bound rate is the unweighted average of all the lines in the tariff schedule in which bound rates have been set. Bound rates result from trade negotiations incorporated into a country's schedule of concessions and are thus enforceable.