Current Account in Nigeria
Nigeria - Current Account (billions of U.S. Dollars)
Economic growth cooled in the first quarter of the year due to a further deterioration in the key oil sector. This more than offset a strong performance in the services sector leading non-oil sector activity to firm. Second-quarter data paints a mixed picture. Private-sector operating conditions improved at a fractionally slower pace in April–May, while credit growth was also broadly stable in April. That said, inflation rose markedly in the same month. A pickup in core inflation highlights that price pressures are farther-reaching than energy and food price increases. Meanwhile, sectarian violence spread to the country’s relatively safe south-western region. Social tensions and violence could increase going forward, as religious and regional divides are heightening the stakes of the February 2023 presidential elections.Nigeria - Current Account (USD bn) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account Balance (USD bn) | -15.4 | 2.7 | 10.4 | 3.9 | -17.0 |
Nigeria Current Account (USD bn) Chart
Source: Central Bank of Nigeria
Nigeria Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 11.10 | 0.0 % | Dec 31 |
| Exchange Rate | 306.5 | 3.08 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Nigeria: PMI softens in January; conditions continue to improve strongly
February 1, 2023
The Purchasing Managers’ Index (PMI)—produced by Stanbic IBTC Bank and S&P Global—came in at a five-month low of 53.5 in January, down from December’s 54.6.
-
Nigeria: Inflation recedes for the first time in 14 months in December
January 18, 2023
Inflation receded for the first time in over a year in December; it softened to 21.3%, down from November’s 21.5%.
-
Nigeria: PMI rises in December
January 3, 2023
The Purchasing Managers’ Index (PMI)—produced by Stanbic IBTC Bank and S&P Global—came in at 54.6 in December, up from November’s 54.3.
-
Nigeria: Private-sector conditions improve at stronger clip in November
December 1, 2022
The Purchasing Managers’ Index (PMI)—produced by Stanbic IBTC Bank and S&P Global—came in at 54.3 in November, up from October's 53.6.
-
Nigeria: GDP growth records slowest increase since Q1 2021 in Q3
November 24, 2022
The Nigerian economy lost steam in the third quarter of 2022: GDP growth moderated to 2.2% year on year, from 3.5% in the second quarter.
© Copyright: 2023. | Nigeria Current Account | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
