Foreign Reserves, Months Import Cover, Goods in Nigeria
Nigeria: Foreign Reserves, Months Import Cover, Goods was 0.7435 in 2016. ▼ Falling
Foreign Reserves, Months Import Cover, Goods in Nigeria, 2000–2016
Source: World Bank staff calculations based on Datastream data.
Analysis
Nigeria recorded 0.7435 for foreign reserves, months import cover, goods in 2016.
The figure is up 47.0% on the previous year and down 57.5% over ten years.
Over the whole period, foreign reserves, months import cover, goods in Nigeria peaked at 1.75 in 2006 and was at its lowest, 0.4586, in 2003.
Nigeria ranks 36th of 116 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 17 years of available data.
Foreign Reserves, Months Import Cover, Goods in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 1.06 | — |
| 2001 | 0.8925 | -15.7% |
| 2002 | 0.5959 | -33.2% |
| 2003 | 0.4586 | -23.0% |
| 2004 | 1.15 | +149.9% |
| 2005 | 1.34 | +16.7% |
| 2006 | 1.75 | +30.9% |
| 2007 | 1.65 | -5.7% |
| 2008 | 1.13 | -31.6% |
| 2009 | 1.22 | +8.5% |
| 2010 | 0.6465 | -47.2% |
| 2011 | 0.4997 | -22.7% |
| 2012 | 0.7555 | +51.2% |
| 2013 | 0.7672 | +1.6% |
| 2014 | 0.5754 | -25.0% |
| 2015 | 0.5059 | -12.1% |
| 2016 | 0.7435 | +47.0% |
Nigeria compared with similar countries
- Nigeria's 0.7435 is above the median for lower middle income countries, which is 0.4996, 1.5× the median. (18 countries reporting)
- Nigeria's 0.7435 is above the median for Sub-Saharan Africa, which is 0.6257, 1.2× the median. (14 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.12 | 0.4586 | 1.75 | 10 |
| 2010s | 0.6419 | 0.4997 | 0.7672 | 7 |
Countries ranked near Nigeria
More reference data data for Nigeria
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 1.77 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 19.51 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 27 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 2.62 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 27 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 5.94 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 5.8 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 81.9 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 121.16 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 14.27 (2050)
Frequently asked questions
- What is foreign reserves, months import cover, goods in Nigeria?
- Foreign reserves, months import cover, goods in Nigeria was 0.7435 in 2016, according to World Bank staff calculations based on Datastream data.
- What is the highest foreign reserves, months import cover, goods recorded in Nigeria?
- The highest recorded value was 1.75 in 2006.
- What is the lowest foreign reserves, months import cover, goods recorded in Nigeria?
- The lowest recorded value was 0.4586 in 2003.
- How does Nigeria rank for foreign reserves, months import cover, goods?
- Nigeria ranks 36th out of 116 countries with data for 2016.
- Is foreign reserves, months import cover, goods rising or falling in Nigeria?
- Over the last ten years it is down 57.5%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from World Bank staff calculations based on Datastream data, published as part of Foreign Reserves, Months Import Cover, Goods. Statizoid updates them automatically from the source API.
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About this data
The stock of international reserves is expressed as the number of months of financing-coverage it represents for the given country's imports of merchandise goods.