Current account balance excluding net official capital grants in Nigeria
Nigeria: Current account balance excluding net official capital grants was 3.6% in 2011. ◆ Volatile
Current account balance excluding net official capital grants in Nigeria, 2005–2011
Source: World Bank country economists. Measured in % of GDP.
Analysis
In 2011, current account balance excluding net official capital grants in Nigeria stood at 3.6%. That is the lowest value across all 7 years on record.
The figure is down 38.8% on the previous year and down 89.1% over ten years.
Nigeria ranks 5th of 41 countries on this measure, in the top 10%.
Current account balance excluding net official capital grants in Nigeria, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2005 | 32.5% | — |
| 2006 | 25.1% | -22.8% |
| 2007 | 16.7% | -33.7% |
| 2008 | 14.1% | -15.6% |
| 2009 | 8.2% | -41.7% |
| 2010 | 5.8% | -29.0% |
| 2011 | 3.6% | -38.8% |
Nigeria compared with similar countries
- Nigeria's 3.6% is above the median for lower middle income countries, which is -7.0%. (20 countries reporting)
- Nigeria's 3.6% is above the median for Sub-Saharan Africa, which is -8.9%. (35 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 19.3% | 8.2% | 32.5% | 5 |
| 2010s | 4.7% | 3.6% | 5.8% | 2 |
Countries ranked near Nigeria
More trade data for Nigeria
- Commodity Net Export Price Index, Individual Commodities Weighted by 66.76 (2025)
- Commodity Net Export Price Index, Individual Commodities Weighted by 93.8 (2025)
- Commodity Export Price Index, Individual Commodites Weighted by Ratio 93.58 (2025)
- Commodity Export Price Index, Individual Commodites Weighted by Ratio 63.43 (2025)
- Commodity Import Price Index, Individual Commodites Weighted by Ratio 99.77 (2025)
- Commodity Import Price Index, Individual Commodites Weighted by Ratio 85.81 (2025)
- Imports of low carbon technology products, Percent of GDP 0.5627 (2024)
- Imports of low carbon technology products, US dollar (World), per 6.1 units per person (2024)
- Imports of low carbon technology products, US dollar (World), per 0.0056 units per US$ of GDP (2024)
- Exports of low carbon technology products, US dollar (World), gaps 42.54 million (2024)
Frequently asked questions
- What is current account balance excluding net official capital grants in Nigeria?
- Current account balance excluding net official capital grants in Nigeria was 3.6% in 2011, according to World Bank country economists.
- What is the highest current account balance excluding net official capital grants recorded in Nigeria?
- The highest recorded value was 32.5% in 2005.
- What is the lowest current account balance excluding net official capital grants recorded in Nigeria?
- The lowest recorded value was 3.6% in 2011.
- How does Nigeria rank for current account balance excluding net official capital grants?
- Nigeria ranks 5th out of 41 countries with data for 2011.
- Is current account balance excluding net official capital grants rising or falling in Nigeria?
- Over the last ten years it is down 89.1%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Bank country economists, published as part of Current account balance excluding net official capital grants (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Current account balance is the sum of net exports of goods, services, net income, and net current transfers. This is divided by GDP at market prices, with both series expressed in current U.S. dollars.