Nigeria Foreign Exchange Reserves: % of GDP

2010 - 2024 | Quarterly | % | CEIC Data

Key information about Nigeria Foreign Exchange Reserves: % of GDP

  • Nigeria Foreign Exchange Reserves: % of GDP was reported at 14.124 % in Jun 2024
  • This records an increase from the previous number of 11.547 % for Mar 2024
  • Nigeria Foreign Exchange Reserves: % of GDP data is updated quarterly, averaging 8.306 % from Dec 2010 to Jun 2024, with 55 observations
  • The data reached an all-time high of 14.124 % in Jun 2024 and a record low of 5.287 % in Mar 2015
  • Nigeria Foreign Exchange Reserves: % of GDP data remains active status in CEIC and is reported by CEIC Data
  • The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Foreign Exchange Reserves: % of Nominal GDP: Quarterly

CEIC calculates quarterly Foreign Exchange Reserves as % of Nominal GDP from monthly Foreign Exchange Reserves and quarterly Nominal GDP. The Central Bank of Nigeria provides Foreign Exchange Reserves in USD. The National Bureau of Statistics provides Nominal GDP in local currency, at basic prices. The Central Bank of Nigeria average market exchange rate is used for currency conversions.

View Nigeria's Foreign Exchange Reserves: % of GDP from Dec 2010 to Jun 2024 in the chart:

Nigeria Foreign Exchange Reserves: % of GDP

What was Nigeria's Foreign Exchange Reserves: % of GDP in Jun 2024?

Nigeria Foreign Exchange Reserves: % of GDP was reported at 14.124 % in Jun 2024 See the table below for more data.

Last Previous Min Max Unit Frequency Range
14.124 Jun 2024 11.547 Mar 2024 5.287 Mar 2015 14.124 Jun 2024 % quarterly Dec 2010 - Jun 2024

Foreign Exchange Reserves: % of GDP by Country Comparison

country/region Last Frequency Range
Albania (%) 22.419 Sep 2024 quarterly Dec 2008 - Sep 2024
Algeria (%) 26.408 Mar 2024 quarterly Dec 1999 - Mar 2024
Argentina (%) 3.598 Sep 2024 quarterly Dec 2004 - Sep 2024
Armenia (%) 14.245 Sep 2024 quarterly Dec 2013 - Sep 2024
Australia (%) 2.137 Sep 2024 quarterly Sep 1969 - Sep 2024
Austria (%) 0.705 Sep 2024 quarterly Dec 1995 - Sep 2024
Azerbaijan (%) 17.789 Sep 2024 quarterly Dec 2001 - Sep 2024
Bahrain (%) 8.733 Dec 2023 quarterly Dec 2007 - Dec 2023
Bangladesh (%) 4.000 Dec 2024 monthly Oct 1999 - Dec 2024
Belarus (%) 3.845 Sep 2024 quarterly Dec 2009 - Sep 2024
Belgium (%) 1.241 Jun 2024 quarterly Mar 1999 - Jun 2024
Bolivia (%) 0.459 Jun 2024 quarterly Mar 1999 - Jun 2024
Bosnia and Herzegovina (%) 32.623 Sep 2024 quarterly Dec 2008 - Sep 2024
Botswana (%) 21.129 Sep 2024 quarterly Jun 1994 - Sep 2024
Brazil (%) 15.144 Sep 2024 quarterly Dec 2000 - Sep 2024
Brunei (%) 6.000 Dec 2024 monthly Jan 2006 - Dec 2024
Bulgaria (%) 36.228 Sep 2024 quarterly Sep 2003 - Sep 2024
Cambodia (%) 7.000 Dec 2024 monthly Jan 2008 - Dec 2024
Canada (%) 4.448 Sep 2024 quarterly Jun 1999 - Sep 2024
Chile (%) 12.845 Sep 2024 quarterly Dec 1996 - Sep 2024
China (%) 6.600 Dec 2024 monthly Jan 1985 - Dec 2024
Colombia (%) 14.191 Sep 2024 quarterly Dec 2000 - Sep 2024
Croatia (%) 39.431 Dec 2022 quarterly Dec 1995 - Dec 2022
Cyprus (%) 0.666 Sep 2024 quarterly Mar 2002 - Sep 2024
Czech Republic (%) 42.585 Sep 2024 quarterly Mar 2000 - Sep 2024
Denmark (%) 19.775 Sep 2024 quarterly Mar 2002 - Sep 2024
Ecuador (%) 4.210 Jun 2024 quarterly Dec 2000 - Jun 2024
Egypt (%) 8.776 Sep 2024 quarterly Dec 2004 - Sep 2024
Estonia (%) 4.216 Sep 2024 quarterly Sep 2002 - Sep 2024
European Union (%) 1.814 Sep 2024 quarterly Dec 1999 - Sep 2024
Finland (%) 2.789 Sep 2024 quarterly Mar 2000 - Sep 2024
France (%) 0.913 Sep 2024 quarterly Mar 2004 - Sep 2024
Georgia (%) 11.046 Sep 2024 quarterly Dec 1996 - Sep 2024
Germany (%) 0.784 Sep 2024 quarterly Dec 1991 - Sep 2024
Ghana (%) 3.820 Dec 2023 quarterly Dec 2006 - Dec 2023
Greece (%) 1.481 Sep 2024 quarterly Mar 2004 - Sep 2024
Hong Kong SAR, China (%) 105.488 Sep 2024 quarterly Jun 2000 - Sep 2024
Hungary (%) 17.783 Sep 2024 quarterly Mar 2006 - Sep 2024
Iceland (%) 17.675 Jun 2024 quarterly Dec 2000 - Jun 2024
India (%) 4.000 Dec 2024 monthly Sep 1962 - Dec 2024
Indonesia (%) 9.000 Nov 2024 monthly Jan 1997 - Nov 2024
Ireland (%) 0.852 Sep 2024 quarterly Mar 1999 - Sep 2024
Israel (%) 41.284 Sep 2024 quarterly Dec 2001 - Sep 2024
Italy (%) 2.195 Sep 2024 quarterly Dec 1999 - Sep 2024
Ivory Coast (%) 0.003 Mar 2023 quarterly Dec 1997 - Mar 2023
Japan (%) 0.840 Oct 2024 monthly Oct 1980 - Oct 2024
Jordan (%) 27.497 Sep 2024 quarterly Dec 1992 - Sep 2024
Kazakhstan (%) 5.430 Dec 2023 quarterly Dec 2002 - Dec 2023
Kenya (%) 7.721 Jun 2024 quarterly Dec 2009 - Jun 2024
South Korea (%) 7.000 Nov 2024 monthly Nov 1979 - Nov 2024
Kosovo (%) 12.534 Sep 2024 quarterly Dec 2010 - Sep 2024
Kuwait (%) 25.562 Jun 2024 quarterly Dec 2010 - Jun 2024
Kyrgyzstan (%) 11.939 Sep 2024 quarterly Dec 2000 - Sep 2024
Laos (%) 8.000 Dec 2024 monthly Jan 2002 - Dec 2024
Latvia (%) 9.472 Sep 2024 quarterly Mar 1997 - Sep 2024
Lebanon (%) 21.405 2021 yearly 2004 - 2021
Lithuania (%) 5.556 Sep 2024 quarterly Dec 1995 - Sep 2024
Luxembourg (%) 0.220 Sep 2024 quarterly Mar 1999 - Sep 2024
Macau SAR, China (%) 57.356 Sep 2024 quarterly Dec 2001 - Sep 2024
North Macedonia (%) 25.563 Sep 2024 quarterly Dec 2000 - Sep 2024
Malawi (%) 7.753 2019 yearly 2002 - 2019
Malaysia (%) 2.000 Nov 2024 monthly Jan 1959 - Nov 2024
Malta (%) 4.328 Sep 2024 quarterly Dec 1995 - Sep 2024
Mauritius (%) 44.495 Sep 2024 quarterly Dec 2006 - Sep 2024
Mexico (%) 10.678 Sep 2024 quarterly Mar 2000 - Sep 2024
Moldova (%) 31.830 Sep 2024 quarterly Mar 2000 - Sep 2024
Mongolia (%) 17.057 Sep 2024 quarterly Dec 2010 - Sep 2024
Montenegro (%) 21.535 Sep 2024 quarterly Dec 2010 - Sep 2024
Morocco (%) 22.019 Jun 2024 quarterly Dec 2007 - Jun 2024
Mozambique (%) 16.911 2023 yearly 1984 - 2023
Myanmar (%) 3.750 Dec 2024 monthly May 2011 - Dec 2024
Nepal (%) 4.000 Nov 2024 monthly Jul 2003 - Nov 2024
Netherlands (%) 0.587 Sep 2024 quarterly Sep 1999 - Sep 2024
New Zealand (%) 6.453 Sep 2024 quarterly Sep 2005 - Sep 2024
Nigeria (%) 14.124 Jun 2024 quarterly Dec 2010 - Jun 2024
Norway (%) 16.403 Sep 2024 quarterly Mar 1999 - Sep 2024
Oman (%) 16.368 Sep 2024 quarterly Dec 2005 - Sep 2024
Pakistan (%) 5.000 Dec 2024 monthly Jul 2006 - Dec 2024
Palestinian Territory (%) 17.215 Sep 2024 quarterly Mar 2006 - Sep 2024
Panama (%) 5.697 Sep 2024 quarterly Dec 2007 - Sep 2024
Paraguay (%) 19.403 Sep 2024 quarterly Dec 1994 - Sep 2024
Peru (%) 26.250 Sep 2024 quarterly Dec 1990 - Sep 2024
Philippines (%) 9.500 Dec 2024 monthly May 1986 - Dec 2024
Poland (%) 20.279 Jun 2024 quarterly Dec 2002 - Jun 2024
Portugal (%) 172.712 Sep 2024 quarterly Dec 1999 - Sep 2024
Qatar (%) 19.692 Sep 2024 quarterly Dec 2010 - Sep 2024
Romania (%) 18.002 Sep 2024 quarterly Jun 2005 - Sep 2024
Russia (%) 19.829 Mar 2024 quarterly Dec 2011 - Mar 2024
Saudi Arabia (%) 39.870 Sep 2024 quarterly Dec 2003 - Sep 2024
Serbia (%) 30.666 Sep 2024 quarterly Mar 2004 - Sep 2024
Singapore (%) 70.512 Sep 2024 quarterly Jun 2000 - Sep 2024
Slovakia (%) 7.006 Sep 2024 quarterly Dec 1999 - Sep 2024
Slovenia (%) 1.771 Sep 2024 quarterly Dec 1995 - Sep 2024
South Africa (%) 11.762 Sep 2024 quarterly Mar 2001 - Sep 2024
Spain (%) 3.705 Sep 2024 quarterly Dec 1995 - Sep 2024
Sri Lanka (%) 4.000 May 2023 monthly Mar 1997 - May 2023
Sudan (%) 0.000 2017 yearly 1960 - 2017
Sweden (%) 7.243 Sep 2024 quarterly Mar 2000 - Sep 2024
Switzerland (%) 91.320 Sep 2024 quarterly Mar 2006 - Sep 2024
Syria (%) 31.149 2010 yearly 1990 - 2010

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Nigeria Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.7 Jun 2024 quarterly Dec 2010 - Jun 2024
Consolidated Fiscal Balance (USD mn) -3,274.101 Jun 2024 quarterly Mar 2005 - Jun 2024
National Government Debt (USD mn) 88,444.7 Jun 2024 quarterly Dec 2006 - Jun 2024
Government Debt: % of GDP (%) 52.8 Jun 2024 quarterly Dec 2010 - Jun 2024
Forecast: Government Expenditure (NGN bn) 100,505.650 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 285,181.495 2029 yearly 1990 - 2029
Forecast: Government Revenue (NGN bn) 72,588.069 2029 yearly 1990 - 2029
Federal Govt Expenditure: Capital (NGN bn) 250.290 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue (NGN bn) 6,285.040 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Recurrent (NGN bn) 6,152.970 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Balance (NGN bn) -4,533.420 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,733.500 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure (NGN bn) 6,838.960 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Revenue (NGN bn) 2,305.540 Jun 2024 quarterly Mar 2005 - Jun 2024
Government Debt: Domestic (NGN bn) 66,957.878 Jun 2024 quarterly Dec 2005 - Jun 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,027.6 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports (USD mn) 3,738.1 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports Growth (%) 56.4 Sep 2024 monthly Jan 2004 - Sep 2024
Aluminum: Exports (USD th) 187,832.450 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 1,530.686 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 329.199 2023 yearly 1995 - 2023
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 62.9 Sep 2024 monthly Jan 2004 - Sep 2024
Imports: Medicament (USD th) 614,222.259 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 227,440.624 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 124.857 Sep 2024 monthly Jan 2003 - Sep 2024
Total Imports from USA (USD mn) 275.937 Sep 2024 monthly Dec 2009 - Sep 2024
Total Exports to China (USD mn) 105.763 Sep 2024 monthly Jan 2007 - Sep 2024
Total Imports from China (USD mn) 802.488 Sep 2024 monthly Jan 2007 - Sep 2024
Imports (NGN mn) 4,384,900.258 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Crude Oil (NGN mn) 3,905,247.850 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Growth Rate: MoM (%) -35.341 Jun 2024 monthly Jan 2019 - Jun 2024
Exports: Growth Rate: MoM (%) 10.446 Jun 2024 monthly Jan 2019 - Jun 2024
Total Trade (NGN mn) 10,432,090.965 Sep 2024 monthly Jan 2003 - Sep 2024
Exports (NGN mn) 6,047,190.706 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow UK (NGN mn) 180,704.134 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: America: ow USA (NGN mn) 201,983.472 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow Netherlands (NGN mn) 261,930.167 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Exports: Vegetable Products (NGN mn) 786,963.687 2023 yearly 2003 - 2023
Imports: Asia: ow China (NGN mn) 1,298,198.961 Sep 2024 monthly Jan 2007 - Sep 2024
Imports: Europe: ow Netherlands (NGN mn) 201,091.335 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow Germany (NGN mn) 135,143.103 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: America: ow USA (NGN mn) 446,388.165 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow UK (NGN mn) 134,085.602 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Chemicals and Chemical Products (NGN mn) 614,100.231 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Manufactured Goods (NGN mn) 488,494.173 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Food and Live Animals (NGN mn) 455,343.676 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Machinery and Transport Equipment (NGN mn) 1,432,150.870 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 1,024,863.121 Sep 2024 monthly Jan 2003 - Sep 2024
Export Value Index (2015=100) 93.461 2021 yearly 1980 - 2021
Import Value Index (2015=100) 116.198 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -831.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Current Account Balance (USD mn) 5,142.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Current Account Balance: % of GDP (%) 11.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.3 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment (USD mn) 4,416.719 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: % of GDP (%) 10.0 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -309.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 4,726.039 Jun 2024 quarterly Mar 2008 - Jun 2024
External Debt (USD mn) 42,901.0 Jun 2024 quarterly Dec 2006 - Jun 2024
External Debt: % of GDP (%) 11.9 2023 yearly 1985 - 2023
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) -5.481 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) -86,263.760 2023 yearly 2005 - 2023
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 42,901.010 Jun 2024 quarterly Dec 2006 - Jun 2024
External Debt: Government: International Capital Market (USD mn) 15,118.350 Jun 2024 quarterly Mar 2011 - Jun 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 21,807.151 Nov 2024 monthly Nov 1992 - Nov 2024
Money Supply M2 (USD mn) 65,496.541 Nov 2024 monthly Nov 1992 - Nov 2024
M2 Growth (%) 52.7 Nov 2024 monthly Nov 1993 - Nov 2024
Reserve Requirement Ratio (%) 50.0 Dec 2024 monthly Nov 2005 - Dec 2024
Foreign Exchange Reserves (USD mn) 35,920.0 Aug 2024 monthly Jan 1960 - Aug 2024
Foreign Exchange Reserves: % of GDP (%) 14.124 Jun 2024 quarterly Dec 2010 - Jun 2024
Foreign Exchange Reserves: Months of Import (NA) 10.7 Aug 2024 monthly Jan 2003 - Aug 2024
Gold Reserves (USD mn) 1,599.957 Jun 2024 monthly Dec 1950 - Jun 2024
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 69,482.4 Nov 2024 monthly Nov 1992 - Nov 2024
Domestic Credit Growth (%) 35.4 Nov 2024 monthly Nov 1993 - Nov 2024
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 36,273,927.360 Nov 2024 monthly Nov 1992 - Nov 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Monetary Survey: Liabilities: Base Money (NGN mn) 30,871,571.250 Nov 2024 monthly Jan 1993 - Nov 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 72,672,756.900 Nov 2024 monthly Nov 1992 - Nov 2024
Monetary Survey: Liabilities: M2 (NGN mn) 108,946,684.260 Nov 2024 monthly Nov 1992 - Nov 2024
Non Performing Loans to Gross Loans (%) 4.140 Jun 2023 semiannually Dec 2003 - Jun 2023
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 4.4 Nov 2024 monthly Jul 2015 - Nov 2024

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