Current Account Balance in Nigeria
The current account balance in Nigeria averaged 0.0% of GDP in the decade to 2022, above the average for Sub-Saharan Africa of -2.5% of GDP. The 2022 reading was 0.2% of GDP. For more current account information, visit our dedicated page.
Nigeria Current Account Chart
Note: This chart displays Current Account (% of GDP) for Nigeria from 2023 to 2022.
Source: Macrobond.
Nigeria Current Account Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Current Account Balance (% of GDP) | -2.9 | -3.7 | -0.7 | 0.7 | 1.7 |
| Current Account Balance (USD bn) | -13.7 | -16.0 | -3.3 | 3.5 | 6.0 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Nigerian current account projections for the next ten years from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable current account forecast available for Nigerian current account.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Nigerian current account projections.
Want to get access to the full dataset of Nigerian current account forecasts? Send an email to info@focus-economics.com.