Nigeria Foreign Exchange Reserves: Months of Import

2003 - 2024 | Monthly | NA | CEIC Data

Key information about Nigeria Foreign Exchange Reserves: Months of Import

  • Nigeria Foreign Exchange Reserves equaled 10.7 Months of Import in Aug 2024, compared with the ratio of 11.4 in the previous month
  • Nigeria Foreign Exchange Reserves: Months of Import data is updated monthly, available from Jan 2003 to Aug 2024
  • The data reached an all-time high of 37.8 in Nov 2007 and a record low of 3.2 in Mar 2011

CEIC calculates monthly Foreign Exchange Reserves as Months of Import from monthly Foreign Exchange Reserves and monthly Imports. The Central Bank of Nigeria provides Foreign Exchange Reserves in USD. The National Bureau of Statistics provides Imports in local currency. The Central Bank of Nigeria average market exchange rate is used for currency conversions. Foreign Exchange Reserves excludes SDRs, Gold and IMF position

View Nigeria's Foreign Exchange Reserves: Months of Import from Jan 2003 to Aug 2024 in the chart:

Nigeria Foreign Exchange Reserves: Months of Import

What was Nigeria's Foreign Exchange Reserves: Months of Import in Aug 2024?

Nigeria Foreign Exchange Reserves equaled 10.7 Months of Import in Aug 2024, compared with the ratio of 11.4 in the previous month See the table below for more data.

Last Previous Min Max Unit Frequency Range
10.7 Aug 2024 11.4 Jul 2024 3.2 Mar 2011 37.8 Nov 2007 NA monthly Jan 2003 - Aug 2024

Foreign Exchange Reserves: Months of Import by Country Comparison

country/region Last Frequency Range
Albania (NA) 7.4 Nov 2024 monthly Dec 1993 - Nov 2024
Algeria (NA) 15.7 Dec 2020 monthly Jan 2000 - Dec 2020
Argentina (NA) 3.7 May 2023 monthly Jan 1990 - May 2023
Armenia (NA) 3.2 Dec 2024 monthly Jan 2000 - Dec 2024
Australia (NA) 1.5 May 2023 monthly Jul 1971 - May 2023
Austria (NA) 0.2 Nov 2024 monthly Jan 1957 - Nov 2024
Azerbaijan (NA) 5.7 Nov 2024 monthly Mar 1994 - Nov 2024
Bahrain (NA) 2.4 2023 yearly 1966 - 2023
Bangladesh (NA) 3.0 Nov 2024 monthly Jul 1986 - Nov 2024
Belarus (NA) 0.8 Nov 2024 monthly Dec 2002 - Nov 2024
Belgium (NA) 0.1 Nov 2024 monthly Jan 1999 - Nov 2024
Bolivia (NA) 0.2 Aug 2024 monthly Jan 2000 - Aug 2024
Bosnia and Herzegovina (NA) 8.0 Jan 2025 monthly Jan 2000 - Jan 2025
Botswana (NA) 8.2 Mar 2023 monthly Jan 2003 - Mar 2023
Brazil (NA) 12.8 Jan 2025 monthly Nov 2000 - Jan 2025
Brunei (NA) 5.4 Jul 2024 monthly Jan 2010 - Jul 2024
Bulgaria (NA) 9.1 Dec 2024 monthly Sep 2003 - Dec 2024
Cambodia (NA) 6.6 Mar 2023 monthly Jun 2013 - Mar 2023
Canada (NA) 2.0 Dec 2024 monthly Jun 1999 - Dec 2024
Chile (NA) 5.7 Jan 2025 monthly Jan 2003 - Jan 2025
China (NA) 13.9 Dec 2024 monthly Jan 2000 - Dec 2024
Colombia (NA) 10.2 Dec 2024 monthly Jan 1980 - Dec 2024
Croatia (NA) 8.0 Dec 2022 monthly Jan 1999 - Dec 2022
Cyprus (NA) 0.2 Dec 2024 monthly Jan 2002 - Dec 2024
Czech Republic (NA) 8.2 Dec 2024 monthly Mar 2000 - Dec 2024
Denmark (NA) 7.6 Dec 2024 monthly Jan 2002 - Dec 2024
Ecuador (NA) 1.7 Dec 2024 monthly Jan 2005 - Dec 2024
Egypt (NA) 4.4 Apr 2023 monthly Dec 2004 - Apr 2023
Estonia (NA) 0.9 Dec 2024 monthly Jan 2001 - Dec 2024
European Union (NA) 1.4 Dec 2024 monthly Jan 2002 - Dec 2024
Finland (NA) 1.3 Nov 2024 monthly Jan 2000 - Nov 2024
France (NA) 0.5 Dec 2024 monthly Feb 2004 - Dec 2024
Georgia (NA) 2.1 Jan 2025 monthly Oct 1995 - Jan 2025
Germany (NA) 0.3 Dec 2024 monthly Jan 1957 - Dec 2024
Ghana (NA) 2.4 Jan 2024 monthly Mar 2005 - Jan 2024
Greece (NA) 0.5 Dec 2024 monthly Jan 2004 - Dec 2024
Hong Kong SAR, China (NA) 9.3 May 2023 monthly Apr 2000 - May 2023
Hungary (NA) 3.4 Dec 2024 monthly Jan 2002 - Dec 2024
Iceland (NA) 7.7 Jan 2025 monthly Oct 2000 - Jan 2025
India (NA) 9.2 May 2023 monthly Apr 1990 - May 2023
Indonesia (NA) 7.8 Jan 2025 monthly Jan 2008 - Jan 2025
Ireland (NA) 0.4 Dec 2024 monthly Jan 1999 - Dec 2024
Israel (NA) 28.7 Jan 2025 monthly Dec 2001 - Jan 2025
Italy (NA) 1.2 Dec 2024 monthly Dec 1999 - Dec 2024
Ivory Coast (NA) 0.0 Oct 2024 monthly Jan 1981 - Oct 2024
Japan (NA) 17.2 Dec 2024 monthly Apr 2000 - Dec 2024
Jordan (NA) 6.5 Nov 2024 monthly Jan 1972 - Nov 2024
Kazakhstan (NA) 3.2 Dec 2024 monthly Dec 2002 - Dec 2024
Kenya (NA) 4.7 Oct 2024 monthly Sep 2005 - Oct 2024
South Korea (NA) 7.6 Jan 2025 monthly Jan 1971 - Jan 2025
Kosovo (NA) 1.7 Dec 2024 monthly Jan 2003 - Dec 2024
Kuwait (NA) 13.3 Sep 2024 quarterly Mar 1973 - Sep 2024
Kyrgyzstan (NA) 1.6 Dec 2024 monthly Jan 2003 - Dec 2024
Laos (NA) 2.5 Jun 2024 quarterly Mar 2004 - Jun 2024
Latvia (NA) 2.1 Dec 2024 monthly Jan 1997 - Dec 2024
Lebanon (NA) 12.5 Dec 2022 monthly Jan 1993 - Dec 2022
Lithuania (NA) 1.8 Dec 2024 monthly Jan 1999 - Dec 2024
Luxembourg (NA) 0.0 Dec 2024 monthly Jan 1999 - Dec 2024
Macau SAR, China (NA) 22.3 Jan 2025 monthly Jan 2000 - Jan 2025
North Macedonia (NA) 4.7 Dec 2024 monthly Jan 2002 - Dec 2024
Malawi (NA) 1.7 Oct 2021 monthly Jan 1994 - Oct 2021
Malaysia (NA) 6.3 May 2023 monthly Dec 1990 - May 2023
Malta (NA) 1.5 Nov 2024 monthly Oct 1994 - Nov 2024
Mauritius (NA) 12.0 Nov 2024 monthly Jan 2006 - Nov 2024
Mexico (NA) 4.1 Dec 2024 monthly Jan 2000 - Dec 2024
Moldova (NA) 6.2 Dec 2024 monthly Jan 2005 - Dec 2024
Mongolia (NA) 4.3 Nov 2024 monthly Jan 1997 - Nov 2024
Montenegro (NA) 4.4 Dec 2024 monthly Jan 2005 - Dec 2024
Morocco (NA) 4.6 Dec 2024 monthly Dec 2001 - Dec 2024
Mozambique (NA) 5.4 Jun 2024 monthly Jan 2011 - Jun 2024
Myanmar (NA) 5.2 Jun 2022 quarterly Sep 2010 - Jun 2022
Nepal (NA) 12.8 Jan 2025 monthly Aug 2003 - Jan 2025
Netherlands (NA) 0.1 Nov 2024 monthly Sep 1999 - Nov 2024
New Zealand (NA) 5.0 Dec 2024 monthly Sep 2005 - Dec 2024
Nigeria (NA) 10.7 Aug 2024 monthly Jan 2003 - Aug 2024
Norway (NA) 10.5 Jan 2025 monthly Jan 1999 - Jan 2025
Oman (NA) 4.7 Nov 2024 monthly Jan 1975 - Nov 2024
Pakistan (NA) 3.0 Jan 2025 monthly Jan 1996 - Jan 2025
Palestinian Territory (NA) 1.2 Nov 2024 monthly Jan 2011 - Nov 2024
Panama (NA) 5.5 Dec 2024 monthly Jan 2000 - Dec 2024
Paraguay (NA) 6.1 Jan 2025 monthly Jan 1994 - Jan 2025
Peru (NA) 16.7 Nov 2024 monthly Jan 1985 - Nov 2024
Philippines (NA) 9.3 Dec 2024 monthly Jan 1979 - Dec 2024
Poland (NA) 5.4 Nov 2024 monthly Jan 2000 - Nov 2024
Portugal (NA) 0.7 Dec 2024 monthly Dec 1999 - Dec 2024
Qatar (NA) 12.3 Dec 2024 monthly Jan 1998 - Dec 2024
Romania (NA) 5.9 Dec 2024 monthly Apr 2005 - Dec 2024
Russia (NA) 14.9 Oct 2024 monthly Jan 1998 - Oct 2024
Saudi Arabia (NA) 21.4 2024 yearly 1957 - 2024
Serbia (NA) 7.1 Dec 2024 monthly Jan 2004 - Dec 2024
Singapore (NA) 9.0 Jan 2025 monthly Apr 2000 - Jan 2025
Slovakia (NA) 1.1 Dec 2024 monthly Jan 2004 - Dec 2024
Slovenia (NA) 0.2 Nov 2024 monthly Jan 1996 - Nov 2024
South Africa (NA) 6.1 Dec 2024 monthly Oct 2004 - Dec 2024
Spain (NA) 1.6 Nov 2024 monthly Jan 1987 - Nov 2024
Sri Lanka (NA) 3.1 Dec 2024 monthly Jan 1982 - Dec 2024
Sudan (NA) 0.0 Dec 2017 monthly Jan 2003 - Dec 2017
Sweden (NA) 3.0 Dec 2024 monthly Mar 2000 - Dec 2024
Switzerland (NA) 20.2 Jan 2025 monthly Jun 1999 - Jan 2025
Syria (NA) 9.8 Jun 2011 quarterly Mar 1960 - Jun 2011

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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 Expenditure: Capital (NGN bn) 1,415.860 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Revenue (NGN bn) 2,282.540 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure (NGN bn) 5,584.150 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Balance (NGN bn) -3,301.610 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 Expenditure: Recurrent (NGN bn) 3,732.590 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: America: ow USA (NGN mn) 201,983.472 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: 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: Europe: ow UK (NGN mn) 134,085.602 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 Netherlands (NGN mn) 201,091.335 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: Mineral Fuels, Lubricants and Related Materials (NGN mn) 1,024,863.121 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
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) 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: International Capital Market (USD mn) 15,118.350 Sep 2024 quarterly Mar 2011 - Sep 2024
External Debt: Government (USD mn) 43,026.550 Sep 2024 quarterly Dec 2006 - 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 Jan 2025 monthly Nov 2005 - Jan 2025
Foreign Exchange Reserves (USD mn) 40,380.0 Nov 2024 monthly Jan 1960 - Nov 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) 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 (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
Monetary Survey: Liabilities: Base Money (NGN mn) 32,659,076.490 Jan 2025 monthly Jan 1993 - Jan 2025
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
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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