Current account balance as a share of GDP in Nigeria
Nigeria: Current account balance as a share of GDP was 6.8% in 2024. ◆ Volatile
Current account balance as a share of GDP in Nigeria, 2000–2024
Source: International Monetary Fund – processed by Our World in Data. Measured in %.
Analysis
In 2024, current account balance as a share of gdp in Nigeria stood at 6.8%.
Compared with earlier readings it is up 416.7% on the previous year and up 4,162.5% over ten years.
Over the whole period, current account balance as a share of gdp in Nigeria peaked at 20.8% in 2005 and was at its lowest, -3.1%, in 2015.
Nigeria ranks 26th of 193 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 share 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% | +184.2% |
| 2004 | 12.4% | +282.7% |
| 2005 | 20.8% | +67.7% |
| 2006 | 15.3% | -26.4% |
| 2007 | 9.9% | -35.1% |
| 2008 | 8.6% | -13.6% |
| 2009 | 4.7% | -45.3% |
| 2010 | 3.6% | -24.0% |
| 2011 | 2.6% | -28.0% |
| 2012 | 3.7% | +45.5% |
| 2013 | 3.7% | -2.1% |
| 2014 | 0.2% | -95.6% |
| 2015 | -3.1% | -2056.2% |
| 2016 | 1.2% | -139.9% |
| 2017 | 3.6% | +188.8% |
| 2018 | 1.7% | -52.1% |
| 2019 | -2.0% | -218.5% |
| 2020 | -2.7% | +30.2% |
| 2021 | -0.5% | -80.1% |
| 2022 | 0.2% | -130.2% |
| 2023 | 1.3% | +725.0% |
| 2024 | 6.8% | +416.7% |
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
- 23 French Polynesia 7.5% compare
- 24 Micronesia, Federated States of 7.1% compare
- 25 Malta 7.1% compare
- 27 Azerbaijan 6.3% compare
- 28 Angola 6.2% compare
- 29 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)
- Services, value added (current US$), annual growth rate 24.94 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.5823 current US$ per US$ of GDP (2025)
- Services, value added (current US$), per capita 712.91 current US$ per person (2025)
- Services, value added (current LCU), annual growth rate 28.36 % change on previous year (2025)
- Services, value added (current LCU), per unit of GDP 884.19 current LCU per US$ of GDP (2025)
- Services, value added (current LCU), per capita 1.08 million current LCU per person (2025)
- Services, value added (constant 2015 US$), annual growth rate 4.14 % change on previous year (2025)
- Services, value added (constant 2015 US$), per unit of GDP 1.15 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is current account balance as a share of gdp in Nigeria?
- Current account balance as a share of gdp in Nigeria was 6.8% in 2024, according to International Monetary Fund – processed by Our World in Data.
- What is the highest current account balance as a share of gdp recorded in Nigeria?
- The highest recorded value was 20.8% in 2005.
- What is the lowest current account balance as a share of gdp recorded in Nigeria?
- The lowest recorded value was -3.1% in 2015.
- How does Nigeria rank for current account balance as a share of gdp?
- Nigeria ranks 26th out of 193 countries with data for 2024.
- Is current account balance as a share of gdp rising or falling in Nigeria?
- Over the last ten years it is up 4,162.5%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund – processed by Our World in Data, published as part of Current account balance as a share of GDP. Statizoid updates them automatically from the source API.
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About this data
Current account balance as a proportion of GDP (%).