Broad money (% of GDP) — all countries

Broad money (% of GDP) — Nigeria

Broad money (% of GDP) in Nigeria in 2023 — 25.08%. Ranked 112 in the world out of 125. Since 1960, the indicator has risen by 15.87 pp.

2023 25.08% +6.05 pp vs 2022
World rank 112of 125
Period maximum 28.63%1980
Period minimum 9.06%1996

Trend over time

1960–2023 · % of GDP

Broad money (% of GDP) — Nigeria, 1960–2023010203019601967197419811988199520022009201620231960: 9.21%1962: 9.49%1964: 10.86%1966: 11.43%1968: 14.05%1970: 10.93%1972: 10.91%1974: 13.22%1976: 19.95%1978: 20.86%1980: 28.63%1982: 11.2%1984: 12.81%1986: 11.91%1988: 12.17%1990: 11.64%1992: 14.25%1994: 15.09%1996: 9.06%1998: 10.94%2000: 14.67%2002: 13.53%2004: 11.76%2006: 11.73%2008: 23.81%2010: 21.36%2012: 24.93%2014: 22.69%2016: 27.38%2018: 25.36%2020: 18.21%2022: 19.03%2023: 25.08%
Change over the period: +15.87 pp Annual average: 0.25 pp

Comparison, 2023

How the value compares with the world and the groups this territory belongs to: Nigeria

Nigeria 25.08%
World 135.57%
Western Africa computed 28.9%
Broad money (% of GDP) — Nigeria, by year Nigeria All countries CSV XLSX
Year % Change, pp
2023 25.08 +6.05 pp
2022 19.03 +0.76 pp
2021 18.27 +0.06 pp
2020 18.21 +1.22 pp
2019 16.99 −8.37 pp
2018 25.36 +0.58 pp
2017 24.78 −2.6 pp
2016 27.38 +5.01 pp
2015 22.37 −0.32 pp
2014 22.69 −2.76 pp
2013 25.45 +0.52 pp
2012 24.93 +2.45 pp
2011 22.48 +1.12 pp
2010 21.36 −3.79 pp
2009 25.14 +1.33 pp
2008 23.81 +4.52 pp
2007 19.29 +7.56 pp
2006 11.73 +0.43 pp
2005 11.3 −0.46 pp
2004 11.76 −1.27 pp
2003 13.03 −0.5 pp
2002 13.53 −2.37 pp
2001 15.9 +1.23 pp
2000 14.67 +1.91 pp
1999 12.76 +1.82 pp
1998 10.94 +1.21 pp
1997 9.73 +0.66 pp
1996 9.06 −1.22 pp
1995 10.28 −4.81 pp
1994 15.09 −0.7 pp
1993 15.79 +1.54 pp
1992 14.25 +0.85 pp
1991 13.4 +1.76 pp
1990 11.64 +1.18 pp
1989 10.45 −1.71 pp
1988 12.17 +0.36 pp
1987 11.81 −0.1 pp
1986 11.91 −0.41 pp
1985 12.33 −0.48 pp
1984 12.81 +0.82 pp
1983 11.99 +0.79 pp
1982 11.2 +0.26 pp
1981 10.94 −17.69 pp
1980 28.63 +5.67 pp
1979 22.95 +2.09 pp
1978 20.86 −1.99 pp
1977 22.85 +2.9 pp
1976 19.95 +2.36 pp
1975 17.59 +4.36 pp
1974 13.22 +2.04 pp
1973 11.18 +0.27 pp
1972 10.91 +0.87 pp
1971 10.04 −0.89 pp
1970 10.93 −3.05 pp
1969 13.98 −0.07 pp
1968 14.05 +1.84 pp
1967 12.22 +0.79 pp
1966 11.43 +0.26 pp
1965 11.17 +0.3 pp
1964 10.86 +1.06 pp
1963 9.8 +0.31 pp
1962 9.49 +0.09 pp
1961 9.4 +0.19 pp
1960 9.21

About the indicator

Broad money, an aggregate close to M2/M3, as a percent of GDP: currency outside banks, demand deposits, time and savings deposits and, in a number of countries, short-term securities. The ratio to GDP is conventionally read as a measure of monetization and of the depth of the financial system, not as an indicator of inflationary pressure.

Source: World Economic Outlook (IMF), license IMF open data.