Nigeria recorded a Current Account deficit of 4.20 percent of the country's Gross Domestic Product in 2020. source: Central Bank of Nigeria

Current Account to GDP in Nigeria averaged 1.77 percent of GDP from 1980 until 2020, reaching an all time high of 32.80 percent of GDP in 2005 and a record low of -18.70 percent of GDP in 1986. This page provides - Nigeria Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Current Account to GDP - values, historical data and charts - was last updated on October of 2021.

Current Account to GDP in Nigeria is expected to reach -2.70 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Current Account to GDP is projected to trend around -2.40 percent of GDP in 2022 and -1.80 percent of GDP in 2023, according to our econometric models.

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Nigeria Current Account to GDP


Nigeria Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.

Nigeria Last Unit Reference Previous Highest Lowest
Current Account -1750.60 USD Million Mar/21 -5264.53 10383.67 -6676.40
Current Account to GDP -4.20 percent of GDP Dec/20 -3.30 32.80 -18.70
Foreign Direct Investment 2138.38 USD Million Mar/21 438.70 3084.90 63.50
Capital Flows 7886.98 USD Million Mar/21 -3371.72 20302.97 -15439.95
Remittances 4278.12 USD Million Mar/21 4071.91 6270.24 3373.09