Current account balance (credit less debit), Net (credits less debits) in Sub-Saharan Africa (SSA)
Sub-Saharan Africa (SSA): Current account balance (credit less debit), Net (credits less debits) was -21.78 billion in 2024. ◆ Volatile
Current account balance (credit less debit), Net (credits less debits) in Sub-Saharan Africa (SSA), 2005–2024
Source: International Monetary Fund.
Analysis
In 2024, current account balance (credit less debit), net (credits less debits) in Sub-Saharan Africa (SSA) stood at -21.78 billion.
Compared with earlier readings it is up 51.1% on the previous year and up 67.1% over ten years.
Over the whole period, current account balance (credit less debit), net (credits less debits) in Sub-Saharan Africa (SSA) peaked at 30.27 billion in 2006 and was at its lowest, -89.89 billion, in 2015.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance (credit less debit), Net (credits less debits) in Sub-Saharan Africa (SSA), year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 26.89 billion | — |
| 2006 | 30.27 billion | +12.6% |
| 2007 | 14.61 billion | -51.7% |
| 2008 | 2.73 billion | -81.3% |
| 2009 | -25.26 billion | -1025.4% |
| 2010 | -11.10 billion | -56.1% |
| 2011 | -13.32 billion | +20.1% |
| 2012 | -28.95 billion | +117.3% |
| 2013 | -39.75 billion | +37.3% |
| 2014 | -66.28 billion | +66.8% |
| 2015 | -89.89 billion | +35.6% |
| 2016 | -51.57 billion | -42.6% |
| 2017 | -29.94 billion | -41.9% |
| 2018 | -33.65 billion | +12.4% |
| 2019 | -53.08 billion | +57.8% |
| 2020 | -36.72 billion | -30.8% |
| 2021 | -11.67 billion | -68.2% |
| 2022 | -37.24 billion | +219.1% |
| 2023 | -44.51 billion | +19.5% |
| 2024 | -21.78 billion | -51.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 9.85 billion | -25.26 billion | 30.27 billion | 5 |
| 2010s | -41.75 billion | -89.89 billion | -11.10 billion | 10 |
| 2020s | -30.38 billion | -44.51 billion | -11.67 billion | 5 |
Countries ranked near Sub-Saharan Africa (SSA)
- 5 Netherlands 110.92 billion compare
- 6 Ireland 105.99 billion compare
- 7 Republic of Korea 99.04 billion compare
- 8 Singapore 96.02 billion compare
- 9 Switzerland 72.01 billion compare
- 10 Norway 71.65 billion compare
- 11 Russian Federation 63.36 billion compare
More financial sector data for Sub-Saharan Africa (SSA)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 4.08 % change on previous year (2025)
- Reserves excluding gold, foreign exchange 141.23 billion SDR (2025)
- Reserves excluding gold 154.94 billion SDR (2025)
- Total reserves (gold at market value) 173.33 billion SDR (2025)
- Total reserves (gold at national valuation) 177.24 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), annual growth rate 8.03 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 7.62 % change on previous year (2025)
- Reserves excluding gold (SDR), annual growth rate 3.4 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 3.92 % change on previous year (2025)
- Reserves excluding gold (SDR), annual growth rate 3.26 % change on previous year (2025)
Frequently asked questions
- What is current account balance (credit less debit), net (credits less debits) in Sub-Saharan Africa (SSA)?
- Current account balance (credit less debit), net (credits less debits) in Sub-Saharan Africa (SSA) was -21.78 billion in 2024, according to International Monetary Fund.
- What is the highest current account balance (credit less debit), net (credits less debits) recorded in Sub-Saharan Africa (SSA)?
- The highest recorded value was 30.27 billion in 2006.
- What is the lowest current account balance (credit less debit), net (credits less debits) recorded in Sub-Saharan Africa (SSA)?
- The lowest recorded value was -89.89 billion in 2015.
- How does Sub-Saharan Africa (SSA) rank for current account balance (credit less debit), net (credits less debits)?
- Sub-Saharan Africa (SSA) ranks 8th out of 9 groups with data for 2024.
- Is current account balance (credit less debit), net (credits less debits) rising or falling in Sub-Saharan Africa (SSA)?
- Over the last ten years it is up 67.1%. The long-run trend across the full record is volatile.
- Where does this Sub-Saharan Africa (SSA) data come from?
- The figures come from International Monetary Fund, published as part of Current account balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
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About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.