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
Latest (2024)
6.8%
Change on year
up 417.8%
World rank
25th
of 204 countries
All-time high
20.8%
in 2005
All-time low
-3.1%
in 2015
Years of data
25
2000–2024
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 204 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% |
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
- 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)
- Agriculture, forestry, and fishing, value added (current LCU), annual 5.18 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 348.91 current LCU per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 427,154 current LCU per person (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 2.92 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 0.4555 constant 2015 US$ per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 557.59 constant 2015 US$ per person (2025)
- Agriculture, forestry, and fishing, value added (constant LCU) 2.92 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant LCU), per 209.92 constant LCU per US$ of GDP (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 204 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.
Download this data
CSV · JSON — 25 observations, free to reuse under UN SDG Global Database (open, attribution requested).