Nigeria recorded a Current Account deficit of 6953.30 USD Million in the fourth quarter of 2019.

Current Account in Nigeria averaged 1832.56 USD Million from 2005 until 2019, reaching an all time high of 10383.67 USD Million in the second quarter of 2008 and a record low of -6953.30 USD Million in the fourth quarter of 2019. This page provides - Nigeria Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Current Account - values, historical data and charts - was last updated on May of 2020. source: Central Bank of Nigeria

Current Account in Nigeria is expected to be -3400.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Nigeria to stand at -2100.00 in 12 months time. In the long-term, the Nigeria Current Account is projected to trend around 1400.00 USD Million in 2021 and 2400.00 USD Million in 2022, according to our econometric models.

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Nigeria Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-6953.30 -2795.83 10383.67 -6953.30 2005 - 2019 USD Million Quarterly

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade 362684.95 33698.20 2177553.08 -975441.14 NGN Millions [+]
Current Account -6953.30 -2795.83 10383.67 -6953.30 USD Million [+]
Current Account to GDP 2.30 2.80 32.80 -18.70 percent [+]
Imports 1396347.95 1434594.11 2518686.57 167.88 NGN Millions [+]
Exports 1759032.90 1468292.31 2648881.76 322.93 NGN Millions [+]
Terms of Trade 103.54 100.73 160.25 49.48 points [+]
Foreign Direct Investment 909.54 1150.51 3084.90 314.44 USD Million [+]
Capital Flows 13235.94 11354.43 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.50 21.46 21.50 21.37 Tonnes [+]
Crude Oil Production 1793.00 1799.00 2475.00 675.00 BBL/D/1K [+]
Remittances 5925.68 5783.00 6270.24 3836.61 USD Million [+]
Terrorism Index 8.60 8.66 9.31 3.86 [+]
External Debt 27676.14 26941.50 27676.14 3627.50 USD Million [+]


Nigeria Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).