Total reserves in months of imports in Nigeria
Nigeria: Total reserves in months of imports was 6.79 ratio in 2024. ▼ Falling
Total reserves in months of imports in Nigeria, 2000–2024
Source: International Monetary Fund – processed by Our World in Data. Measured in ratio.
Analysis
The most recent figure for total reserves in months of imports in Nigeria is 6.79 ratio, measured in 2024.
The figure is up 38.6% on the previous year and up 73.2% over ten years.
Over the whole period, total reserves in months of imports in Nigeria peaked at 12.1 ratio in 2006 and was at its lowest, 3.53 ratio, in 2003.
That places Nigeria 34th out of 172 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently falling across the 25 years of available data.
Total reserves in months of imports in Nigeria, year by year
| Year | ratio | Change |
|---|---|---|
| 2000 | 7.88 ratio | — |
| 2001 | 6.82 ratio | -13.5% |
| 2002 | 4.87 ratio | -28.6% |
| 2003 | 3.53 ratio | -27.5% |
| 2004 | 8.75 ratio | +147.9% |
| 2005 | 9.6 ratio | +9.7% |
| 2006 | 12.1 ratio | +26.0% |
| 2007 | 10.22 ratio | -15.5% |
| 2008 | 7.88 ratio | -22.9% |
| 2009 | 7.98 ratio | +1.3% |
| 2010 | 4.38 ratio | -45.1% |
| 2011 | 3.53 ratio | -19.4% |
| 2012 | 5.19 ratio | +47.0% |
| 2013 | 5.09 ratio | -1.9% |
| 2014 | 3.92 ratio | -23.0% |
| 2015 | 4.07 ratio | +3.8% |
| 2016 | 6.17 ratio | +51.6% |
| 2017 | 8 ratio | +29.7% |
| 2018 | 6.05 ratio | -24.4% |
| 2019 | 4.1 ratio | -32.2% |
| 2020 | 5.6 ratio | +36.6% |
| 2021 | 6.23 ratio | +11.3% |
| 2022 | 4.66 ratio | -25.2% |
| 2023 | 4.9 ratio | +5.2% |
| 2024 | 6.79 ratio | +38.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.96 ratio | 3.53 ratio | 12.1 ratio | 10 |
| 2010s | 5.05 ratio | 3.53 ratio | 8 ratio | 10 |
| 2020s | 5.64 ratio | 4.66 ratio | 6.79 ratio | 5 |
Countries ranked near Nigeria
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 total reserves in months of imports in Nigeria?
- Total reserves in months of imports in Nigeria was 6.79 ratio in 2024, according to International Monetary Fund – processed by Our World in Data.
- What is the highest total reserves in months of imports recorded in Nigeria?
- The highest recorded value was 12.1 ratio in 2006.
- What is the lowest total reserves in months of imports recorded in Nigeria?
- The lowest recorded value was 3.53 ratio in 2003.
- How does Nigeria rank for total reserves in months of imports?
- Nigeria ranks 34th out of 172 countries with data for 2024.
- Is total reserves in months of imports rising or falling in Nigeria?
- Over the last ten years it is up 73.2%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund – processed by Our World in Data, published as part of Total reserves in months of imports. Statizoid updates them automatically from the source API.
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About this data
Total reserves in months of imports (ratio).