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 18.573 % in Sep 2024
  • This records an increase from the previous number of 14.124 % for Jun 2024
  • Nigeria Foreign Exchange Reserves: % of GDP data is updated quarterly, averaging 8.308 % from Dec 2010 to Sep 2024, with 56 observations
  • The data reached an all-time high of 18.573 % in Sep 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 Sep 2024 in the chart:

Nigeria Foreign Exchange Reserves: % of GDP

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

Nigeria Foreign Exchange Reserves: % of GDP was reported at 18.573 % in Sep 2024 See the table below for more data.

Last Previous Min Max Unit Frequency Range
18.573 Sep 2024 14.124 Jun 2024 5.287 Mar 2015 18.573 Sep 2024 % quarterly Dec 2010 - Sep 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 (%) 25.249 Sep 2024 quarterly Dec 1999 - Sep 2024
Argentina (%) 3.598 Sep 2024 quarterly Dec 2004 - Sep 2024
Armenia (%) 14.187 Dec 2024 quarterly Dec 2013 - Dec 2024
Australia (%) 2.339 Dec 2024 quarterly Sep 1969 - Dec 2024
Austria (%) 0.641 Dec 2024 quarterly Dec 1995 - Dec 2024
Azerbaijan (%) 17.721 Sep 2024 quarterly Dec 2001 - Sep 2024
Bahrain (%) 8.711 Dec 2023 quarterly Dec 2007 - Dec 2023
Bangladesh (%) 4.000 Feb 2025 monthly Oct 1999 - Feb 2025
Belarus (%) 3.845 Sep 2024 quarterly Dec 2009 - Sep 2024
Belgium (%) 0.783 Dec 2024 quarterly Mar 1999 - Dec 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 (%) 13.549 Dec 2024 quarterly Dec 2000 - Dec 2024
Brunei (%) 6.000 Jan 2025 monthly Jan 2006 - Jan 2025
Bulgaria (%) 35.524 Dec 2024 quarterly Sep 2003 - Dec 2024
Cambodia (%) 7.000 Feb 2025 monthly Jan 2008 - Feb 2025
Canada (%) 4.192 Dec 2024 quarterly Jun 1999 - Dec 2024
Chile (%) 12.845 Sep 2024 quarterly Dec 1996 - Sep 2024
China (%) 6.600 Feb 2025 monthly Jan 1985 - Feb 2025
Colombia (%) 13.755 Dec 2024 quarterly Dec 2000 - Dec 2024
Croatia (%) 39.431 Dec 2022 quarterly Dec 1995 - Dec 2022
Cyprus (%) 0.729 Dec 2024 quarterly Mar 2002 - Dec 2024
Czech Republic (%) 39.975 Dec 2024 quarterly Mar 2000 - Dec 2024
Denmark (%) 18.979 Dec 2024 quarterly Mar 2002 - Dec 2024
Ecuador (%) 5.127 Sep 2024 quarterly Dec 2000 - Sep 2024
Egypt (%) 8.776 Sep 2024 quarterly Dec 2004 - Sep 2024
Estonia (%) 3.860 Dec 2024 quarterly Sep 2002 - Dec 2024
European Union (%) 1.915 Dec 2024 quarterly Dec 1999 - Dec 2024
Finland (%) 3.068 Dec 2024 quarterly Mar 2000 - Dec 2024
France (%) 0.975 Dec 2024 quarterly Mar 2004 - Dec 2024
Georgia (%) 11.046 Sep 2024 quarterly Dec 1996 - Sep 2024
Germany (%) 0.789 Dec 2024 quarterly Dec 1991 - Dec 2024
Ghana (%) 3.623 Dec 2023 quarterly Dec 2006 - Dec 2023
Greece (%) 1.534 Dec 2024 quarterly Mar 2004 - Dec 2024
Hong Kong SAR, China (%) 103.470 Dec 2024 quarterly Jun 2000 - Dec 2024
Hungary (%) 15.636 Dec 2024 quarterly Mar 2006 - Dec 2024
Iceland (%) 16.728 Dec 2024 quarterly Dec 2000 - Dec 2024
India (%) 4.000 Feb 2025 monthly Sep 1962 - Feb 2025
Indonesia (%) 9.000 Feb 2025 monthly Jan 1997 - Feb 2025
Ireland (%) 0.918 Dec 2024 quarterly Mar 1999 - Dec 2024
Israel (%) 38.877 Dec 2024 quarterly Dec 2001 - Dec 2024
Italy (%) 2.275 Dec 2024 quarterly Dec 1999 - Dec 2024
Ivory Coast (%) 0.003 Mar 2023 quarterly Dec 1997 - Mar 2023
Japan (%) 0.840 Dec 2024 monthly Oct 1980 - Dec 2024
Jordan (%) 27.497 Sep 2024 quarterly Dec 1992 - Sep 2024
Kazakhstan (%) 5.430 Dec 2023 quarterly Dec 2002 - Dec 2023
Kenya (%) 7.521 Sep 2024 quarterly Dec 2009 - Sep 2024
South Korea (%) 7.000 Feb 2025 monthly Nov 1979 - Feb 2025
Kosovo (%) 12.534 Sep 2024 quarterly Dec 2010 - Sep 2024
Kuwait (%) 25.562 Jun 2024 quarterly Dec 2010 - Jun 2024
Kyrgyzstan (%) 9.151 Dec 2024 quarterly Dec 2000 - Dec 2024
Laos (%) 8.000 Feb 2025 monthly Jan 2002 - Feb 2025
Latvia (%) 9.493 Dec 2024 quarterly Mar 1997 - Dec 2024
Lebanon (%) 21.405 2021 yearly 2004 - 2021
Lithuania (%) 7.431 Dec 2024 quarterly Dec 1995 - Dec 2024
Luxembourg (%) 0.220 Sep 2024 quarterly Mar 1999 - Sep 2024
Macau SAR, China (%) 58.563 Dec 2024 quarterly Dec 2001 - Dec 2024
North Macedonia (%) 29.004 Dec 2024 quarterly Dec 2000 - Dec 2024
Malawi (%) 7.753 2019 yearly 2002 - 2019
Malaysia (%) 2.000 Feb 2025 monthly Jan 1959 - Feb 2025
Malta (%) 4.309 Dec 2024 quarterly Dec 1995 - Dec 2024
Mauritius (%) 44.495 Sep 2024 quarterly Dec 2006 - Sep 2024
Mexico (%) 10.951 Dec 2024 quarterly Mar 2000 - Dec 2024
Moldova (%) 29.013 Dec 2024 quarterly Mar 2000 - Dec 2024
Mongolia (%) 20.332 Dec 2024 quarterly Dec 2010 - Dec 2024
Montenegro (%) 20.204 Dec 2024 quarterly Dec 2010 - Dec 2024
Morocco (%) 21.679 Sep 2024 quarterly Dec 2007 - Sep 2024
Mozambique (%) 16.911 2023 yearly 1984 - 2023
Myanmar (%) 3.750 Feb 2025 monthly May 2011 - Feb 2025
Nepal (%) 4.000 Feb 2025 monthly Jul 2003 - Feb 2025
Netherlands (%) 0.605 Dec 2024 quarterly Sep 1999 - Dec 2024
New Zealand (%) 6.453 Sep 2024 quarterly Sep 2005 - Sep 2024
Nigeria (%) 18.573 Sep 2024 quarterly Dec 2010 - Sep 2024
Norway (%) 15.907 Dec 2024 quarterly Mar 1999 - Dec 2024
Oman (%) 16.368 Sep 2024 quarterly Dec 2005 - Sep 2024
Pakistan (%) 5.000 Jan 2025 monthly Jul 2006 - Jan 2025
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 (%) 25.180 Dec 2024 quarterly Dec 1990 - Dec 2024
Philippines (%) 7.000 Feb 2025 monthly May 1986 - Feb 2025
Poland (%) 19.665 Dec 2024 quarterly Dec 2002 - Dec 2024
Portugal (%) 172.712 Sep 2024 quarterly Dec 1999 - Sep 2024
Qatar (%) 19.692 Sep 2024 quarterly Dec 2010 - Sep 2024
Romania (%) 16.535 Dec 2024 quarterly Jun 2005 - Dec 2024
Russia (%) 19.376 Sep 2024 quarterly Dec 2011 - Sep 2024
Saudi Arabia (%) 38.053 Dec 2024 quarterly Dec 2003 - Dec 2024
Serbia (%) 30.849 Dec 2024 quarterly Mar 2004 - Dec 2024
Singapore (%) 65.403 Dec 2024 quarterly Jun 2000 - Dec 2024
Slovakia (%) 7.216 Dec 2024 quarterly Dec 1999 - Dec 2024
Slovenia (%) 1.865 Dec 2024 quarterly Dec 1995 - Dec 2024
South Africa (%) 11.762 Sep 2024 quarterly Mar 2001 - Sep 2024
Spain (%) 3.837 Dec 2024 quarterly Dec 1995 - Dec 2024
Sri Lanka (%) 4.000 May 2023 monthly Mar 1997 - May 2023
Sudan (%) 0.000 2017 yearly 1960 - 2017
Sweden (%) 6.925 Dec 2024 quarterly Mar 2000 - Dec 2024
Switzerland (%) 86.276 Dec 2024 quarterly Mar 2006 - Dec 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 Sep 2024 quarterly Dec 2010 - Sep 2024
Consolidated Fiscal Balance (USD mn) -2,078.997 Sep 2024 quarterly Mar 2005 - Sep 2024
National Government Debt (USD mn) 86,261.2 Sep 2024 quarterly Dec 2006 - Sep 2024
Government Debt: % of GDP (%) 53.8 Sep 2024 quarterly Dec 2010 - Sep 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 Balance (NGN bn) -3,301.610 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure: Recurrent (NGN bn) 3,732.590 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure: Capital (NGN bn) 1,415.860 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure (NGN bn) 5,584.150 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue (NGN bn) 6,865.840 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Revenue (NGN bn) 2,282.540 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,304.960 Sep 2024 quarterly Mar 2005 - Sep 2024
Government Debt: Domestic (NGN bn) 69,219.806 Sep 2024 quarterly Dec 2005 - Sep 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
Total Trade (NGN mn) 10,432,090.965 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Growth Rate: MoM (%) -17.535 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: Growth Rate: MoM (%) -17.669 Sep 2024 monthly Jan 2019 - Sep 2024
Exports (NGN mn) 6,047,190.706 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: Europe: ow UK (NGN mn) 180,704.134 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Vegetable Products (NGN mn) 786,963.687 2023 yearly 2003 - 2023
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
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: Asia: ow China (NGN mn) 1,298,198.961 Sep 2024 monthly Jan 2007 - 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: Mineral Fuels, Lubricants and Related Materials (NGN mn) 1,024,863.121 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
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 Sep 2024 quarterly Mar 2010 - Sep 2024
Foreign Portfolio Investment (USD mn) 4,416.719 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: % of GDP (%) 4.3 Sep 2024 quarterly Mar 2010 - Sep 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) 43,026.6 Sep 2024 quarterly Dec 2006 - Sep 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) 43,026.550 Sep 2024 quarterly Dec 2006 - Sep 2024
External Debt: Government: International Capital Market (USD mn) 15,118.350 Sep 2024 quarterly Mar 2011 - Sep 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) 24,967.124 Jan 2025 monthly Nov 1992 - Jan 2025
Money Supply M2 (USD mn) 75,096.954 Jan 2025 monthly Nov 1992 - Jan 2025
M2 Growth (%) 18.3 Jan 2025 monthly Nov 1993 - Jan 2025
Reserve Requirement Ratio (%) 50.0 Feb 2025 monthly Nov 2005 - Feb 2025
Foreign Exchange Reserves (USD mn) 40,380.0 Nov 2024 monthly Jan 1960 - Nov 2024
Foreign Exchange Reserves: % of GDP (%) 18.573 Sep 2024 quarterly Dec 2010 - Sep 2024
Foreign Exchange Reserves: Months of Import (NA) 14.5 Sep 2024 monthly Jan 2003 - Sep 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) 67,269.4 Jan 2025 monthly Nov 1992 - Jan 2025
Domestic Credit Growth (%) -0.6 Jan 2025 monthly Nov 1993 - Jan 2025
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 36,894,418.660 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 74,077,851.830 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: Base Money (NGN mn) 32,659,076.490 Jan 2025 monthly Jan 1993 - Jan 2025
Monetary Survey: Liabilities: M2 (NGN mn) 110,972,270.500 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
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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