Nigeria

Balance of payments

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Nigeria's exports was $20.3 billion while imports totaled $13.7 billion resulting in a trade surplus of $6.6 billion.

The International Monetary Fund (IMF) reports that in 1999 Nigeria had exports of goods totaling $12.9 billion and imports totaling $8.59 billion. The services credit totaled $980 million and debit $3.48 billion. The following table summarizes Nigeria's balance of payments as reported by the IMF for 1999 in millions of US dollars.

Current Account 506

Balance on goods 4,288 Balance on services -2,496 Balance on income -2,578 Current transfers 1,292 Capital Account -48 Financial Account -4,002

Direct investment abroad … Direct investment in Nigeria 1,005 Portfolio investment assets 50 Portfolio investment liabilities -39 Other investment assets -3,319 Other investment liabilities -1,699 Net Errors and Omissions 7 Reserves and Related Items 3,538

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