Nigeria current account

Nigeria current account Analytics & Data

Nigeria current account Statistics

Nigeria current account Quantitative Analysis, Charts & Factors

Nigeria current account Historical Data

The MacroVar database offers free access to historical data for the Nigeria current account, dating back to 1950. This extensive dataset is readily available through MacroVar versatile platforms, including a user-friendly web interface, a robust Python API, and convenient Excel integration. By leveraging these tools, users can efficiently retrieve and analyze decades of Nigeria current account data, supporting a wide range of research, financial analysis, and decision-making processes.

What is the Nigeria current account

The current account of Nigeria refers to the country's balance of trade and financial transactions with the rest of the world. It includes the value of exports and imports of goods and services, as well as financial transfers such as remittances and foreign aid. A positive current account balance indicates that the country is exporting more than it is importing, while a negative balance indicates the opposite. Nigeria has historically had a negative current account balance due to its reliance on oil exports and the high importation of goods and services. This imbalance has put pressure on the country's foreign exchange reserves and has highlighted the need for diversification of the economy to reduce dependence on oil.