Current account balance as a proportion of GDP (%) in Nigeria
Nigeria: Current account balance as a proportion of GDP (%) was 6.8% in 2024. ◆ Volatile
Current account balance as a proportion of GDP in Nigeria, 2000–2024
Source: United Nations Statistics Division, SDG Global Database. Measured in %.
Analysis
Nigeria recorded 6.8% for current account balance as a proportion of gdp in 2024.
Compared with earlier readings it is up 417.8% on the previous year and up 4,222.4% over ten years.
Over the whole period, current account balance as a proportion of gdp in Nigeria peaked at 20.8% in 2005 and was at its lowest, -3.1%, in 2015.
Nigeria ranks 25th of 205 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance as a proportion of GDP (%) in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 10.7% | — |
| 2001 | 3.4% | -68.6% |
| 2002 | 1.1% | -66.2% |
| 2003 | 3.2% | +184.1% |
| 2004 | 12.4% | +283.2% |
| 2005 | 20.8% | +67.6% |
| 2006 | 15.3% | -26.4% |
| 2007 | 9.9% | -35.1% |
| 2008 | 8.6% | -13.6% |
| 2009 | 4.7% | -45.2% |
| 2010 | 3.6% | -24.0% |
| 2011 | 2.6% | -28.0% |
| 2012 | 3.7% | +45.5% |
| 2013 | 3.7% | -2.2% |
| 2014 | 0.2% | -95.7% |
| 2015 | -3.1% | -2083.4% |
| 2016 | 1.3% | -140.1% |
| 2017 | 3.6% | +187.7% |
| 2018 | 1.7% | -52.2% |
| 2019 | -2.0% | -218.6% |
| 2020 | -2.7% | +30.4% |
| 2021 | -0.5% | -80.0% |
| 2022 | 0.2% | -129.5% |
| 2023 | 1.3% | +737.0% |
| 2024 | 6.8% | +417.8% |
Nigeria compared with similar countries
- Nigeria's 6.8% is above the median for lower middle income countries, which is -0.8%. (43 countries reporting)
- Nigeria's 6.8% is above the median for Sub-Saharan Africa, which is -4.1%. (40 countries reporting)
Biggest year-on-year movements
Years where Current account balance as a proportion of GDP (%) in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2015 | -2083.4% | 0.2% | -3.1% |
| 2023 | +737.0% | 0.2% | 1.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 9.0% | 1.1% | 20.8% | 10 |
| 2010s | 1.5% | -3.1% | 3.7% | 10 |
| 2020s | 1.0% | -2.7% | 6.8% | 5 |
Countries ranked near Nigeria
- 22 French Polynesia 7.5% compare
- 23 Micronesia (Federated States of) 7.1% compare
- 24 Malta 7.1% compare
- 26 Azerbaijan 6.3% compare
- 27 Angola 6.2% compare
- 28 Tajikistan 6.2% compare
More economy & growth data for Nigeria
- Real gdp growth, annual growth rate 22.77 % change on previous year (2024)
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 3.99 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0148 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 18.13 units per person (2025)
- SDRs holdings, SDR, annual growth rate -0.9704 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0108 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 13.24 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -17.26 % change on previous year (2025)
Frequently asked questions
- What is current account balance as a proportion of gdp in Nigeria?
- Current account balance as a proportion of gdp in Nigeria was 6.8% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest current account balance as a proportion of gdp recorded in Nigeria?
- The highest recorded value was 20.8% in 2005.
- What is the lowest current account balance as a proportion of gdp recorded in Nigeria?
- The lowest recorded value was -3.1% in 2015.
- How does Nigeria rank for current account balance as a proportion of gdp?
- Nigeria ranks 25th out of 205 countries with data for 2024.
- Is current account balance as a proportion of gdp rising or falling in Nigeria?
- Over the last ten years it is up 4,222.4%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Current account balance as a proportion of GDP (%). Statizoid updates them automatically from the source API.
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