Current account balance in Nigeria
Nigeria: Current account balance was 3.9% in 2011. ◆ Volatile
Current account balance in Nigeria, 2005–2011
Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files. Measured in % of GNP.
Analysis
In 2011, current account balance in Nigeria stood at 3.9%. That is the lowest value across all 7 years on record.
Compared with earlier readings it is down 38.3% on the previous year and down 89.4% over ten years.
Nigeria ranks 5th of 41 countries on this measure, in the top 10%.
Current account balance in Nigeria, year by year
| Year | % of GNP | Change |
|---|---|---|
| 2005 | 36.9% | — |
| 2006 | 26.1% | -29.3% |
| 2007 | 17.9% | -31.3% |
| 2008 | 15.2% | -15.5% |
| 2009 | 9.0% | -40.8% |
| 2010 | 6.4% | -29.0% |
| 2011 | 3.9% | -38.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 21.0% | 9.0% | 36.9% | 5 |
| 2010s | 5.2% | 3.9% | 6.4% | 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 in Nigeria?
- Current account balance in Nigeria was 3.9% in 2011, according to International Monetary Fund, Balance of Payments Statistics Yearbook and data files.
- What is the highest current account balance recorded in Nigeria?
- The highest recorded value was 36.9% in 2005.
- What is the lowest current account balance recorded in Nigeria?
- The lowest recorded value was 3.9% in 2011.
- How does Nigeria rank for current account balance?
- Nigeria ranks 5th out of 41 countries with data for 2011.
- Is current account balance rising or falling in Nigeria?
- Over the last ten years it is down 89.4%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, Balance of Payments Statistics Yearbook and data files, published as part of Current account balance (% of GNP). 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. Data are in current U.S. dollars. Data are divided by GNP at market prices in U.S. dollars to facilitate comparison across economies.