Nigeria: Net errors and omissions

* indicates monthly or quarterly data series
 Nigeria

Balance of payments, net errors and omissions

 Latest value -7,513.48
 Year 2022
 Measure million USD
 Data availability 1977 - 2022
 Average -3,689.90
 Min - Max -26,734.81 - 20,773.24
 Source The World Bank
For that indicator, we provide data for Nigeria from 1977 to 2022. The average value for Nigeria during that period was -3689.9 million USD with a minimum of -26734.81 million USD in 2013 and a maximum of 20773.24 million USD in 2015. The latest value from 2022 is -7513.48 million USD. For comparison, the world average in 2022 based on 153 countries is -72.08 million USD. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Nigeria - Net errors and omissions - Recent values chart

Historical chart
Nigeria - Net errors and omissions - historical chart - 1977-2022




Definition: Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. Data are in current U.S. dollars.


 Related indicators Latest value Reference Measure
 Terms of trade 127.38 2021 percent
 Trade openness 26.17 1960 percent
 Financial openness -0.666 2021 index points
 Exports, percent of GDP 9.24 1960 percent
 Exports, billion dollars 0.39 1960 billion U.S. dollars
 Imports, percent of GDP 16.92 1960 percent
 Imports, billion dollars 0.71 1960 billion U.S. dollars
 Foreign Direct Investment, percent of GDP -0.04 2022 percent
 Foreign Direct Investment, billion dollars -0.19 2022 billion U.S. dollars
 Portfolio investment inflows, equities 293.46 2022 million dollars (current)
 Current account, percent of GDP 0.10 2022 percent
 Current account, in dollars 1.02 2022 billion U.S. dollars
 Trade balance, percent of GDP -7.68 1960 percent
 Trade balance, in dollars -7.96 2022 billion U.S. dollars
 Reserves 35.56 2022 billion U.S. dollars
 Remittances, percent of GDP 4.26 2022 percent
 Remittances 20,127.61 2022 million U.S. dollars
 Net errors and omissions -7,513.48 2022 million USD
 External debt 21.39 2022 percent
 Short-term external debt 22.25 2022 percent
 Short-term debt to reserves 61.52 2022 percent
 Foreign exchange reserves 37.39 9/2022 billion
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