Nigeria recorded a Current Account deficit of 3232.28 USD Million in the second quarter of 2020. source: Central Bank of Nigeria

Current Account in Nigeria averaged 1600.98 USD Million from 2005 until 2020, 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 November of 2020.

Current Account in Nigeria is expected to be -4000.00 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 -4800.00 in 12 months time. In the long-term, the Nigeria Current Account is projected to trend around -4700.00 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
-3232.28 -4881.73 10383.67 -6953.30 2005 - 2020 USD Million Quarterly

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade -807170.40 -574966.09 2177553.08 -975441.14 NGN Millions [+]
Current Account -3232.28 -4881.73 10383.67 -6953.30 USD Million [+]
Current Account to GDP -3.60 0.90 32.80 -18.70 percent [+]
Imports 1590021.69 1325501.38 2518686.57 167.88 NGN Millions [+]
Exports 782851.28 750535.29 2648881.76 322.93 NGN Millions [+]
Terms of Trade 103.19 103.48 160.25 49.48 points [+]
Foreign Direct Investment 427.76 495.42 3084.90 63.50 USD Million [+]
Capital Flows 4146.35 -6300.42 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.46 21.50 21.50 21.37 Tonnes [+]
Crude Oil Production 1310.00 1368.00 2475.00 675.00 BBL/D/1K [+]
Remittances 3373.09 5629.04 6270.24 3373.09 USD Million [+]
Non Oil Exports 159580.04 235709.85 1450442.90 29675.90 NGN Million [+]
Oil Exports 623271.24 514825.44 2033861.20 46192.00 NGN Million [+]
Terrorism Index 8.60 8.66 9.31 3.86 [+]
External Debt 31477.14 27665.66 37267.68 3287.73 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).