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

Nigeria

Current Account 506
Balance on goods 4288
Balance on services -2496
Balance on income -2578
Current transfers 1292
Capital Account -48
Financial Account -4002
Direct investment abroad
Direct investment in Niger 1005
Portfolio investment assets 50
Portfolio investment liabilities -39
Other investment assets -3319
Other investment liabilities -1699
Net Errors and Omissions 7
Reserves and Related Items 3538

User Contributions:

1
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Aug 9, 2010 @ 3:03 am
perfect, what of 2002-2008 balance of payment of nigeria. the summary aspect of the review.
2
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Mar 17, 2011 @ 10:22 pm
NIgeria as a nation, has been having surplus BOP, why has this surplus not resulted in any meaningful economic development?
3
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May 13, 2011 @ 8:08 am
WHY DIRECT INVESTMENT ABROAD IS NOT AVAILABLE AND ALSO WHY OMMISSION IS POSITIVE?
4
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Jul 18, 2011 @ 1:13 pm
How does others investment asset be 'negative' since depreciation were not included and all asset are positive in their present value.

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