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) 7.5 Sep 2024 monthly Dec 1993 - Sep 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) 2.7 Oct 2024 monthly Jan 2000 - Oct 2024
Australia (NA) 1.5 May 2023 monthly Jul 1971 - May 2023
Austria (NA) 0.2 Oct 2024 monthly Jan 1957 - Oct 2024
Azerbaijan (NA) 6.0 Oct 2024 monthly Mar 1994 - Oct 2024
Bahrain (NA) 2.4 2023 yearly 1966 - 2023
Bangladesh (NA) 2.7 Oct 2024 monthly Jul 1986 - Oct 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) 7.2 Nov 2024 monthly Jan 2000 - Nov 2024
Botswana (NA) 8.2 Mar 2023 monthly Jan 2003 - Mar 2023
Brazil (NA) 14.8 Dec 2024 monthly Nov 2000 - Dec 2024
Brunei (NA) 5.4 Jul 2024 monthly Jan 2010 - Jul 2024
Bulgaria (NA) 7.8 Nov 2024 monthly Sep 2003 - Nov 2024
Cambodia (NA) 6.6 Mar 2023 monthly Jun 2013 - Mar 2023
Canada (NA) 2.0 Nov 2024 monthly Jun 1999 - Nov 2024
Chile (NA) 5.7 Dec 2024 monthly Jan 2003 - Dec 2024
China (NA) 13.9 Dec 2024 monthly Jan 2000 - Dec 2024
Colombia (NA) 10.1 Oct 2024 monthly Jan 1980 - Oct 2024
Croatia (NA) 8.0 Dec 2022 monthly Jan 1999 - Dec 2022
Cyprus (NA) 0.2 Nov 2024 monthly Jan 2002 - Nov 2024
Czech Republic (NA) 7.0 Nov 2024 monthly Mar 2000 - Nov 2024
Denmark (NA) 7.1 Nov 2024 monthly Jan 2002 - Nov 2024
Ecuador (NA) 2.0 Nov 2024 monthly Jan 2005 - Nov 2024
Egypt (NA) 4.4 Apr 2023 monthly Dec 2004 - Apr 2023
Estonia (NA) 1.0 Nov 2024 monthly Jan 2001 - Nov 2024
European Union (NA) 1.3 Nov 2024 monthly Jan 2002 - Nov 2024
Finland (NA) 1.2 Oct 2024 monthly Jan 2000 - Oct 2024
France (NA) 0.5 Nov 2024 monthly Feb 2004 - Nov 2024
Georgia (NA) 2.1 Dec 2024 monthly Oct 1995 - Dec 2024
Germany (NA) 0.3 Nov 2024 monthly Jan 1957 - Nov 2024
Ghana (NA) 2.4 Jan 2024 monthly Mar 2005 - Jan 2024
Greece (NA) 0.5 Nov 2024 monthly Jan 2004 - Nov 2024
Hong Kong SAR, China (NA) 9.3 May 2023 monthly Apr 2000 - May 2023
Hungary (NA) 2.9 Oct 2024 monthly Jan 2002 - Oct 2024
Iceland (NA) 6.8 Nov 2024 monthly Oct 2000 - Nov 2024
India (NA) 9.2 May 2023 monthly Apr 1990 - May 2023
Indonesia (NA) 6.6 Dec 2024 monthly Jan 2008 - Dec 2024
Ireland (NA) 0.4 Nov 2024 monthly Jan 1999 - Nov 2024
Israel (NA) 22.0 Dec 2024 monthly Dec 2001 - Dec 2024
Italy (NA) 1.0 Nov 2024 monthly Dec 1999 - Nov 2024
Ivory Coast (NA) 0.0 Aug 2024 monthly Jan 1981 - Aug 2024
Japan (NA) 18.2 Nov 2024 monthly Apr 2000 - Nov 2024
Jordan (NA) 6.5 Oct 2024 monthly Jan 1972 - Oct 2024
Kazakhstan (NA) 3.2 Nov 2024 monthly Dec 2002 - Nov 2024
Kenya (NA) 4.7 Oct 2024 monthly Sep 2005 - Oct 2024
South Korea (NA) 7.1 Dec 2024 monthly Jan 1971 - Dec 2024
Kosovo (NA) 2.3 Nov 2024 monthly Jan 2003 - Nov 2024
Kuwait (NA) 13.3 Sep 2024 quarterly Mar 1973 - Sep 2024
Kyrgyzstan (NA) 1.9 Nov 2024 monthly Jan 2003 - Nov 2024
Laos (NA) 2.5 Jun 2024 quarterly Mar 2004 - Jun 2024
Latvia (NA) 2.3 Nov 2024 monthly Jan 1997 - Nov 2024
Lebanon (NA) 12.5 Dec 2022 monthly Jan 1993 - Dec 2022
Lithuania (NA) 1.0 Nov 2024 monthly Jan 1999 - Nov 2024
Luxembourg (NA) 0.1 Oct 2024 monthly Jan 1999 - Oct 2024
Macau SAR, China (NA) 21.1 Dec 2024 monthly Jan 2000 - Dec 2024
North Macedonia (NA) 4.4 Oct 2024 monthly Jan 2002 - Oct 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) 3.9 Nov 2024 monthly Jan 2000 - Nov 2024
Moldova (NA) 6.5 Nov 2024 monthly Jan 2005 - Nov 2024
Mongolia (NA) 4.3 Nov 2024 monthly Jan 1997 - Nov 2024
Montenegro (NA) 4.2 Oct 2024 monthly Jan 2005 - Oct 2024
Morocco (NA) 5.0 Nov 2024 monthly Dec 2001 - Nov 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) 13.7 Dec 2024 monthly Aug 2003 - Dec 2024
Netherlands (NA) 0.1 Nov 2024 monthly Sep 1999 - Nov 2024
New Zealand (NA) 4.7 Nov 2024 monthly Sep 2005 - Nov 2024
Nigeria (NA) 10.7 Aug 2024 monthly Jan 2003 - Aug 2024
Norway (NA) 9.6 Dec 2024 monthly Jan 1999 - Dec 2024
Oman (NA) 4.1 Oct 2024 monthly Jan 1975 - Oct 2024
Pakistan (NA) 3.6 Nov 2024 monthly Jan 1996 - Nov 2024
Palestinian Territory (NA) 0.9 Oct 2024 monthly Jan 2011 - Oct 2024
Panama (NA) 4.2 Oct 2024 monthly Jan 2000 - Oct 2024
Paraguay (NA) 6.1 Dec 2024 monthly Jan 1994 - Dec 2024
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) 0.5 Nov 2024 monthly Dec 1999 - Nov 2024
Qatar (NA) 15.7 Sep 2024 monthly Jan 1998 - Sep 2024
Romania (NA) 5.1 Nov 2024 monthly Apr 2005 - Nov 2024
Russia (NA) 14.9 Oct 2024 monthly Jan 1998 - Oct 2024
Saudi Arabia (NA) 23.9 2023 yearly 1957 - 2023
Serbia (NA) 7.5 Nov 2024 monthly Jan 2004 - Nov 2024
Singapore (NA) 8.6 Dec 2024 monthly Apr 2000 - Dec 2024
Slovakia (NA) 1.0 Nov 2024 monthly Jan 2004 - Nov 2024
Slovenia (NA) 0.2 Nov 2024 monthly Jan 1996 - Nov 2024
South Africa (NA) 5.9 Nov 2024 monthly Oct 2004 - Nov 2024
Spain (NA) 1.5 Oct 2024 monthly Jan 1987 - Oct 2024
Sri Lanka (NA) 4.3 Nov 2024 monthly Jan 1982 - Nov 2024
Sudan (NA) 0.0 Dec 2017 monthly Jan 2003 - Dec 2017
Sweden (NA) 2.7 Nov 2024 monthly Mar 2000 - Nov 2024
Switzerland (NA) 26.6 Nov 2024 monthly Jun 1999 - Nov 2024
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 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
Gross Federation Account Revenue (NGN bn) 6,285.040 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: Capital (NGN bn) 250.290 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Revenue (NGN bn) 2,305.540 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure (NGN bn) 6,838.960 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Recurrent (NGN bn) 6,152.970 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
Total Trade (NGN mn) 10,432,090.965 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
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: America: ow USA (NGN mn) 201,983.472 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
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
Imports: Europe: ow Netherlands (NGN mn) 201,091.335 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: America: ow USA (NGN mn) 446,388.165 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow Germany (NGN mn) 135,143.103 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: 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) 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: Base Money (NGN mn) 30,871,571.250 Nov 2024 monthly Jan 1993 - Nov 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 36,273,927.360 Nov 2024 monthly Nov 1992 - Nov 2024
Monetary Survey: Liabilities: M2 (NGN mn) 108,946,684.260 Nov 2024 monthly Nov 1992 - Nov 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 72,672,756.900 Nov 2024 monthly Nov 1992 - Nov 2024
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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