Total reserves includes gold (% of GDP) in Nigeria
Nigeria: Total reserves includes gold (% of GDP) was 14.9% in 2011. ◆ Volatile
Total reserves includes gold in Nigeria, 1960–2011
Source: International Monetary Fund, International Financial Statistics and data files. Measured in % of GDP.
Analysis
The most recent figure for total reserves includes gold in Nigeria is 14.9%, measured in 2011.
The figure is down 5.3% on the previous year and down 33.0% over ten years.
Over the whole period, total reserves includes gold in Nigeria peaked at 31.3% in 2007 and was at its lowest, 1.8%, in 1970.
That places Nigeria 26th out of 53 countries with data for 2011, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Total reserves includes gold (% of GDP) in Nigeria, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 8.2% | — |
| 1961 | 6.9% | -15.9% |
| 1962 | 5.9% | -14.4% |
| 1963 | 4.1% | -30.9% |
| 1964 | 4.1% | +1.0% |
| 1965 | 4.1% | -0.9% |
| 1966 | 3.4% | -16.9% |
| 1967 | 2.2% | -36.2% |
| 1968 | 2.3% | +7.9% |
| 1969 | 2.0% | -14.3% |
| 1970 | 1.8% | -10.8% |
| 1971 | 4.7% | +164.1% |
| 1972 | 3.2% | -32.3% |
| 1973 | 4.1% | +29.0% |
| 1974 | 23.0% | +459.4% |
| 1975 | 20.4% | -11.2% |
| 1976 | 14.5% | -29.0% |
| 1977 | 12.0% | -16.9% |
| 1978 | 5.6% | -53.8% |
| 1979 | 12.5% | +124.8% |
| 1980 | 16.6% | +32.8% |
| 1981 | 7.0% | -58.0% |
| 1982 | 3.9% | -44.4% |
| 1983 | 3.6% | -7.5% |
| 1984 | 5.9% | +65.8% |
| 1985 | 6.7% | +12.1% |
| 1986 | 6.7% | +0.3% |
| 1987 | 6.4% | -4.3% |
| 1988 | 4.1% | -36.1% |
| 1989 | 8.6% | +109.6% |
| 1990 | 14.5% | +69.4% |
| 1991 | 17.1% | +18.1% |
| 1992 | 3.7% | -78.7% |
| 1993 | 7.7% | +110.1% |
| 1994 | 7.0% | -9.3% |
| 1995 | 6.1% | -12.8% |
| 1996 | 12.3% | +101.7% |
| 1997 | 21.5% | +75.1% |
| 1998 | 22.7% | +5.7% |
| 1999 | 16.2% | -28.5% |
| 2000 | 22.0% | +35.2% |
| 2001 | 22.2% | +1.0% |
| 2002 | 12.8% | -42.3% |
| 2003 | 11.0% | -14.4% |
| 2004 | 19.6% | +79.2% |
| 2005 | 25.5% | +29.8% |
| 2006 | 29.4% | +15.2% |
| 2007 | 31.3% | +6.5% |
| 2008 | 25.9% | -17.3% |
| 2009 | 27.0% | +4.3% |
| 2010 | 15.7% | -41.9% |
| 2011 | 14.9% | -5.3% |
Nigeria compared with similar countries
- Nigeria's 14.9% is below the median for lower middle income countries, which is 15.0%, 99% of the median. (24 countries reporting)
- Nigeria's 14.9% is above the median for Sub-Saharan Africa, which is 14.3%, 1.0× the median. (47 countries reporting)
Biggest year-on-year movements
Years where Total reserves includes gold (% of GDP) in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1974 | +459.4% | 4.1% | 23.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 4.3% | 2.0% | 8.2% | 10 |
| 1970s | 10.2% | 1.8% | 23.0% | 10 |
| 1980s | 6.9% | 3.6% | 16.6% | 10 |
| 1990s | 12.9% | 3.7% | 22.7% | 10 |
| 2000s | 22.7% | 11.0% | 31.3% | 10 |
| 2010s | 15.3% | 14.9% | 15.7% | 2 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.01 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.7387 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.01 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is total reserves includes gold in Nigeria?
- Total reserves includes gold in Nigeria was 14.9% in 2011, according to International Monetary Fund, International Financial Statistics and data files.
- What is the highest total reserves includes gold recorded in Nigeria?
- The highest recorded value was 31.3% in 2007.
- What is the lowest total reserves includes gold recorded in Nigeria?
- The lowest recorded value was 1.8% in 1970.
- How does Nigeria rank for total reserves includes gold?
- Nigeria ranks 26th out of 53 countries with data for 2011.
- Is total reserves includes gold rising or falling in Nigeria?
- Over the last ten years it is down 33.0%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, International Financial Statistics and data files, published as part of Total reserves includes gold (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices.