Nigeria Foreign Exchange Reserves: Months of Import

2003 - 2023 | Monthly | NA | CEIC Data

Key information about Nigeria Foreign Exchange Reserves: Months of Import

  • Nigeria Foreign Exchange Reserves equaled 8.9 Months of Import in Nov 2023, compared with the ratio of 3.1 in the previous month
  • Nigeria Foreign Exchange Reserves: Months of Import data is updated monthly, available from Jan 2003 to Nov 2023
  • The data reached an all-time high of 37.8 in Nov 2007 and a record low of 3.1 in Oct 2023

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 Nov 2023 in the chart:

Nigeria Foreign Exchange Reserves: Months of Import

What was Nigeria's Foreign Exchange Reserves: Months of Import in Nov 2023?

Nigeria Foreign Exchange Reserves equaled 8.9 Months of Import in Nov 2023, compared with the ratio of 3.1 in the previous month See the table below for more data.

Last Previous Min Max Unit Frequency Range
8.9 Nov 2023 3.1 Oct 2023 3.1 Oct 2023 37.8 Nov 2007 NA monthly Jan 2003 - Nov 2023

Foreign Exchange Reserves: Months of Import by Country Comparison

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Includes Foreign Exchange Reserves: Months of Import on 115 economies standardised by CEIC. Instant access to full history data in excel.
country/region Last Frequency Range
Albania (NA) 7.0 Oct 2023 monthly Dec 1993 - Oct 2023
Algeria (NA) 15.7 Dec 2020 monthly Jan 2000 - Dec 2020
Argentina (NA) 3.7 May 2023 monthly Jan 1990 - May 2023
Armenia (NA) 2.2 Feb 2024 monthly Jan 2000 - Feb 2024
Australia (NA) 1.5 May 2023 monthly Jul 1971 - May 2023
Austria (NA) 0.2 Oct 2023 monthly Jan 1957 - Oct 2023
Azerbaijan (NA) 11.1 Jan 2024 monthly Mar 1994 - Jan 2024
Bahrain (NA) 2.0 2022 yearly 1966 - 2022
Bangladesh (NA) 2.9 Jan 2024 monthly Jul 1986 - Jan 2024
Belarus (NA) 1.0 Jan 2024 monthly Dec 2002 - Jan 2024
Belgium (NA) 0.2 Jan 2024 monthly Jan 1999 - Jan 2024
Bolivia (NA) 0.4 Jan 2023 monthly Jan 2000 - Jan 2023
Bosnia and Herzegovina (NA) 6.7 Feb 2024 monthly Jan 2000 - Feb 2024
Botswana (NA) 8.2 Mar 2023 monthly Jan 2003 - Mar 2023
Brazil (NA) 15.8 Mar 2024 monthly Nov 2000 - Mar 2024
Brunei (NA) 4.5 Nov 2023 monthly Jan 2010 - Nov 2023
Bulgaria (NA) 8.7 Jan 2024 monthly Sep 2003 - Jan 2024
Cambodia (NA) 6.6 Mar 2023 monthly Jun 2013 - Mar 2023
Canada (NA) 2.0 Feb 2024 monthly Jun 1999 - Feb 2024
Chile (NA) 7.0 Feb 2024 monthly Jan 2003 - Feb 2024
China (NA) 17.9 Feb 2024 monthly Jan 2000 - Feb 2024
Colombia (NA) 11.0 Jan 2024 monthly Jan 1980 - Jan 2024
Croatia (NA) 8.0 Dec 2022 monthly Jan 1999 - Dec 2022
Cyprus (NA) 0.2 Jan 2024 monthly Jan 2002 - Jan 2024
Czech Republic (NA) 7.4 Jan 2024 monthly Mar 2000 - Jan 2024
Denmark (NA) 7.5 Jan 2024 monthly Jan 2002 - Jan 2024
Ecuador (NA) 1.1 Jan 2024 monthly Jan 2005 - Jan 2024
Egypt (NA) 4.4 Apr 2023 monthly Dec 2004 - Apr 2023
Estonia (NA) 1.2 Feb 2024 monthly Jan 2001 - Feb 2024
European Union (NA) 1.3 Jan 2024 monthly Jan 2002 - Jan 2024
Finland (NA) 1.2 Jan 2024 monthly Jan 2000 - Jan 2024
France (NA) 0.5 Jan 2024 monthly Feb 2004 - Jan 2024
Georgia (NA) 3.9 Feb 2024 monthly Oct 1995 - Feb 2024
Germany (NA) 0.3 Jan 2024 monthly Jan 1957 - Jan 2024
Ghana (NA) 2.3 Aug 2023 monthly Mar 2005 - Aug 2023
Greece (NA) 0.5 Jan 2024 monthly Jan 2004 - Jan 2024
Hong Kong SAR, China (NA) 9.3 May 2023 monthly Apr 2000 - May 2023
Hungary (NA) 3.5 Jan 2024 monthly Jan 2002 - Jan 2024
Iceland (NA) 6.8 Feb 2024 monthly Oct 2000 - Feb 2024
India (NA) 9.2 May 2023 monthly Apr 1990 - May 2023
Indonesia (NA) 7.1 Feb 2024 monthly Jan 2008 - Feb 2024
Ireland (NA) 0.5 Jan 2024 monthly Jan 1999 - Jan 2024
Israel (NA) 26.2 Feb 2024 monthly Dec 2001 - Feb 2024
Italy (NA) 1.0 Jan 2024 monthly Dec 1999 - Jan 2024
Ivory Coast (NA) 0.0 Dec 2023 monthly Jan 1981 - Dec 2023
Japan (NA) 20.1 Feb 2024 monthly Apr 2000 - Feb 2024
Jordan (NA) 7.6 Jan 2024 monthly Jan 1972 - Jan 2024
Kazakhstan (NA) 3.5 Jan 2024 monthly Dec 2002 - Jan 2024
Kenya (NA) 3.9 Dec 2023 monthly Sep 2005 - Dec 2023
South Korea (NA) 7.6 Mar 2024 monthly Jan 1971 - Mar 2024
Kosovo (NA) 2.6 Jan 2024 monthly Jan 2003 - Jan 2024
Kuwait (NA) 13.6 Dec 2023 quarterly Mar 1973 - Dec 2023
Kyrgyzstan (NA) 1.6 Jan 2024 monthly Jan 2003 - Jan 2024
Laos (NA) 1.8 Dec 2022 quarterly Mar 2004 - Dec 2022
Latvia (NA) 2.3 Jan 2024 monthly Jan 1997 - Jan 2024
Lebanon (NA) 12.5 Dec 2022 monthly Jan 1993 - Dec 2022
Lithuania (NA) 1.4 Dec 2023 monthly Jan 1999 - Dec 2023
Luxembourg (NA) 0.1 Jan 2024 monthly Jan 1999 - Jan 2024
Macau SAR, China (NA) 25.9 Feb 2024 monthly Jan 2000 - Feb 2024
North Macedonia (NA) 4.2 Feb 2024 monthly Jan 2002 - Feb 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) 1.4 Jan 2024 monthly Oct 1994 - Jan 2024
Mauritius (NA) 13.2 Jan 2024 monthly Jan 2006 - Jan 2024
Mexico (NA) 3.7 Feb 2024 monthly Jan 2000 - Feb 2024
Moldova (NA) 7.0 Nov 2023 monthly Jan 2005 - Nov 2023
Mongolia (NA) 6.5 Feb 2024 monthly Jan 1997 - Feb 2024
Montenegro (NA) 3.8 Feb 2024 monthly Jan 2005 - Feb 2024
Morocco (NA) 5.5 Jan 2024 monthly Dec 2001 - Jan 2024
Mozambique (NA) 4.2 Dec 2023 monthly Jan 2011 - Dec 2023
Myanmar (NA) 6.0 Mar 2021 quarterly Sep 2010 - Mar 2021
Nepal (NA) 12.4 Mar 2024 monthly Aug 2003 - Mar 2024
Netherlands (NA) 0.1 Feb 2024 monthly Sep 1999 - Feb 2024
New Zealand (NA) 4.3 Feb 2024 monthly Sep 2005 - Feb 2024
Nigeria (NA) 8.9 Nov 2023 monthly Jan 2003 - Nov 2023
Norway (NA) 10.2 Mar 2024 monthly Jan 1999 - Mar 2024
Oman (NA) 4.4 Jan 2024 monthly Jan 1975 - Jan 2024
Pakistan (NA) 2.5 Oct 2023 monthly Jan 1996 - Oct 2023
Palestinian Territory (NA) 1.2 Jan 2024 monthly Jan 2011 - Jan 2024
Panama (NA) 5.0 Jan 2024 monthly Jan 2000 - Jan 2024
Paraguay (NA) 8.8 Feb 2024 monthly Jan 1994 - Feb 2024
Peru (NA) 17.3 Jan 2024 monthly Jan 1985 - Jan 2024
Philippines (NA) 8.7 Jan 2024 monthly Jan 1979 - Jan 2024
Poland (NA) 5.5 Jan 2024 monthly Jan 2000 - Jan 2024
Portugal (NA) 0.6 Sep 2023 monthly Dec 1999 - Sep 2023
Qatar (NA) 15.6 Feb 2024 monthly Jan 1998 - Feb 2024
Romania (NA) 5.9 Feb 2024 monthly Apr 2005 - Feb 2024
Russia (NA) 19.1 Jan 2023 monthly Jan 1998 - Jan 2023
Saudi Arabia (NA) 23.4 2023 yearly 1957 - 2023
Serbia (NA) 7.0 Feb 2024 monthly Jan 2004 - Feb 2024
Singapore (NA) 10.2 Feb 2024 monthly Apr 2000 - Feb 2024
Slovakia (NA) 0.8 Jan 2024 monthly Jan 2004 - Jan 2024
Slovenia (NA) 0.2 Dec 2023 monthly Jan 1996 - Dec 2023
South Africa (NA) 6.0 Feb 2024 monthly Oct 2004 - Feb 2024
Spain (NA) 1.7 Jan 2024 monthly Jan 1987 - Jan 2024
Sri Lanka (NA) 3.3 Feb 2024 monthly Jan 1982 - Feb 2024
Sudan (NA) 0.0 Dec 2017 monthly Jan 2003 - Dec 2017
Sweden (NA) 2.7 Feb 2024 monthly Mar 2000 - Feb 2024
Switzerland (NA) 23.1 Feb 2024 monthly Jun 1999 - Feb 2024
Syria (NA) 9.8 Jun 2011 quarterly Mar 1960 - Jun 2011

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Nigeria Key Series

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Includes 202 key indicators for Nigeria, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.8 Sep 2023 quarterly Dec 2010 - Sep 2023
Consolidated Fiscal Balance (USD mn) -3,071.175 Sep 2023 quarterly Mar 2005 - Sep 2023
National Government Debt (USD mn) 101,710.7 Dec 2023 quarterly Dec 2006 - Dec 2023
Government Debt: % of GDP (%) 39.8 Dec 2023 quarterly Dec 2010 - Dec 2023
Forecast: Government Expenditure (NGN bn) 69,308.370 2028 yearly 1990 - 2028
Forecast: Government Net Debt (NGN bn) 205,772.040 2028 yearly 1990 - 2028
Forecast: Government Revenue (NGN bn) 42,354.640 2028 yearly 1990 - 2028
Federal Govt Balance (NGN bn) -2,347.160 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Revenue (NGN bn) 1,693.020 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Recurrent (NGN bn) 2,791.110 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Capital (NGN bn) 1,043.310 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure (NGN bn) 4,040.180 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue: Oil (NGN bn) 814.230 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue (NGN bn) 4,791.390 Sep 2023 quarterly Mar 2005 - Sep 2023
Government Debt: Domestic (NGN bn) 53,258.012 Dec 2023 quarterly Dec 2005 - Dec 2023
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,889.4 Sep 2023 monthly Jan 2003 - Sep 2023
Total Exports (USD mn) 4,751.7 Dec 2023 monthly Jan 2003 - Dec 2023
Total Exports Growth (%) 82.1 Dec 2023 monthly Jan 2004 - Dec 2023
Aluminum: Exports (USD th) 165,856.846 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 2,876.353 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 480.530 2022 yearly 1995 - 2022
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 34.5 Sep 2023 monthly Jan 2004 - Sep 2023
Imports: Medicament (USD th) 755,360.705 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 508,406.689 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 332.105 Dec 2023 monthly Jan 2003 - Dec 2023
Total Imports from USA (USD mn) 176.789 Dec 2023 monthly Dec 2009 - Dec 2023
Total Exports to China (USD mn) 24.772 Sep 2023 monthly Jan 2007 - Sep 2023
Total Imports from China (USD mn) 715.679 Sep 2023 monthly Jan 2007 - Sep 2023
Imports (NGN mn) 2,429,185.197 Sep 2023 monthly Jan 2003 - Sep 2023
Exports: Crude Oil (NGN mn) 3,404,818.113 Dec 2023 monthly Jan 2003 - Dec 2023
Total Trade (NGN mn) 6,865,948.584 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow UK (NGN mn) 93,037.938 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: America: ow USA (NGN mn) 299,453.208 Dec 2023 monthly Jan 2003 - Dec 2023
Exports (NGN mn) 4,284,566.609 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow Netherlands (NGN mn) 523,568.988 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Mineral Products (NGN mn) 24,389,951.388 2022 yearly 2003 - 2022
Exports: Vegetable Products (NGN mn) 316,546.604 2022 yearly 2003 - 2022
Imports: Europe: ow Netherlands (NGN mn) 158,090.619 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Europe: ow Germany (NGN mn) 68,742.651 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Asia: ow China (NGN mn) 631,502.155 Dec 2023 monthly Jan 2007 - Dec 2023
Imports: Europe: ow UK (NGN mn) 71,966.938 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: America: ow USA (NGN mn) 159,407.643 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Chemicals and Chemical Products (NGN mn) 385,751.608 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 810,486.908 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Food and Live Animals (NGN mn) 364,417.505 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Manufactured Goods (NGN mn) 184,959.341 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Machinery and Transport Equipment (NGN mn) 639,703.694 Sep 2023 monthly Jan 2003 - Sep 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 274.7 Dec 2022 quarterly Mar 2008 - Dec 2022
Current Account Balance (USD mn) 2,348.3 Dec 2022 quarterly Mar 2008 - Dec 2022
Current Account Balance: % of GDP (%) 1.8 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Direct Investment (USD mn) 752.7 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Direct Investment: % of GDP (%) 0.6 Dec 2022 quarterly Mar 2010 - Dec 2022
Foreign Portfolio Investment (USD mn) 337.399 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Portfolio Investment: % of GDP (%) 0.3 Dec 2022 quarterly Mar 2010 - Dec 2022
Foreign Portfolio Investment: Equity Securities (USD mn) -2.3 Dec 2022 quarterly Mar 2008 - Dec 2022
Foreign Portfolio Investment: Debt Securities (USD mn) 339.714 Dec 2022 quarterly Mar 2008 - Dec 2022
External Debt (USD mn) 42,495.2 Dec 2023 quarterly Dec 2006 - Dec 2023
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) 0.890 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) -80,930.532 2022 yearly 2005 - 2022
BoP: CF: Capital Account (USD mn) 0.000 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Direct Investment (USD mn) 94.452 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Portfolio Investment (USD mn) -182.419 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Other Investment (USD mn) -1,699.632 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers (USD mn) 5,442.967 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Liabilities: Portfolio Investment (USD mn) 1,000.946 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets: Reserves Assets (USD mn) 1,437.945 Sep 2022 quarterly Mar 2008 - Sep 2022
BoP: CF: Financial Account: Assets (USD mn) -1,085.664 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income (USD mn) -2,264.294 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods (USD mn) 2,798.047 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods: Debit (USD mn) -11,787.111 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services: Debit (USD mn) -4,428.113 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers: Credit (USD mn) 5,452.430 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Current Transfers: Debit (USD mn) -505.024 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Liabilities: Other Investment (USD mn) 848.311 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account (USD mn) 852.759 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income: Debit (USD mn) -2,775.122 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CF: Financial Account: Liabilities (USD mn) 1,938.423 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: Net Errors & Omission (USD mn) -3,201.073 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services: Credit (USD mn) 1,295.268 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Goods: Credit (USD mn) 14,585.159 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Income: Credit (USD mn) 510.828 Dec 2022 quarterly Mar 2008 - Dec 2022
BoP: CA: Services (USD mn) -3,132.845 Dec 2022 quarterly Mar 2008 - Dec 2022
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 Dec 2023 quarterly Mar 2011 - Dec 2023
External Debt: Government (USD mn) 42,495.160 Dec 2023 quarterly Dec 2006 - Dec 2023
Capital Inflow: Foreign Direct Investment (USD) 20,080,525.860 Nov 2022 monthly Jan 2007 - Nov 2022
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) 19,608.589 Feb 2024 monthly Nov 1992 - Feb 2024
Money Supply M2 (USD mn) 60,857.230 Feb 2024 monthly Nov 1992 - Feb 2024
M2 Growth (%) 77.6 Feb 2024 monthly Nov 1993 - Feb 2024
Reserve Requirement Ratio (%) 45.0 Mar 2024 monthly Nov 2005 - Mar 2024
Foreign Exchange Reserves (USD mn) 32,360.0 Nov 2023 monthly Jan 1960 - Nov 2023
Foreign Exchange Reserves: % of GDP (%) 7.771 Sep 2023 quarterly Dec 2010 - Sep 2023
Foreign Exchange Reserves: Months of Import (NA) 8.9 Nov 2023 monthly Jan 2003 - Nov 2023
Gold Reserves (USD mn) 1,273.284 Sep 2023 monthly Dec 1950 - Sep 2023
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) 74,341.2 Feb 2024 monthly Nov 1992 - Feb 2024
Domestic Credit Growth (%) 63.6 Feb 2024 monthly Nov 1993 - Feb 2024
Private Debt: % of Nominal GDP (%) 16.22 Sep 2023 quarterly Dec 2010 - Sep 2023
Monetary Survey: Liabilities: M2 (NGN mn) 93,968,491.960 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 30,277,249.260 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: Base Money (NGN mn) 21,230,656.700 Feb 2024 monthly Jan 1993 - Feb 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 63,691,242.700 Feb 2024 monthly Nov 1992 - Feb 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.210 Dec 2022 semiannually Dec 2003 - Dec 2022
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -0.6 Nov 2023 monthly Jul 2015 - Nov 2023

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