Nigeria recorded a Current Account deficit of 2795.83 USD Million in the third quarter of 2019. Current Account in Nigeria averaged 1996.09 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 -5695.27 USD Million in the third quarter of 2015. source: Central Bank of Nigeria

Current Account in Nigeria is expected to be 2150.00 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 2200.00 in 12 months time. In the long-term, the Nigeria Current Account is projected to trend around 3150.00 USD Million in 2020, according to our econometric models.


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Nigeria Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-2795.83 -2858.88 10383.67 -5695.27 2005 - 2019 USD Million Quarterly


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).

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade 1079173.44 133748.95 2177553.08 -622103.84 NGN Millions [+]
Current Account -2795.83 -2858.88 10383.67 -5695.27 USD Million [+]
Current Account to GDP 2.30 2.80 32.80 -18.70 percent [+]
Imports 1139813.10 1356107.90 2209385.78 167.88 NGN Millions [+]
Exports 2218986.50 1489856.90 2648881.76 322.93 NGN Millions [+]
Terms of Trade 103.80 101.20 160.25 49.48 points [+]
Foreign Direct Investment 909.54 1150.51 3084.90 314.44 USD Million [+]
Capital Flows 11354.43 -3297.03 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.46 21.46 21.50 21.37 Tonnes [+]
Crude Oil Production 1780.00 1796.00 2475.00 675.00 BBL/D/1K [+]
External Debt 27162.63 25609.63 27162.63 3627.50 USD Million [+]
Terrorism Index 8.60 8.66 9.31 3.86 [+]
Remittances 5783.00 5916.57 6270.24 3836.61 USD Million [+]