Nigeria’s trade surplus widened to NGN 887.6 billion in June 2018 from NGN 108.8 billion in the same month a year earlier. It was the largest trade surplus since August 2014. Exports jumped 48.9 percent year-on-year to NGN 1482.2 billion, boosted by sales of crude oil (59.8 percent); agricultural goods (86.3 percent); solid mineral (236.5 percent); manufactured goods (10.7 percent) and raw material (8.5 percent). The most important export partners were: India (16.2 percent of total exports), Netherlands (10.3 percent), Spain (9.6 percent) and South Africa (8.1 percent). Imports fell 32.9 percent to NGN 594.6 billion, due to lower purchases of food & live animals (-15.1 percent); mineral fuel (-89.2 percent); miscellaneous manufactured articles (-8 percent) and raw material (-73.6 percent). Main import partners were: China (25.2 percent of total imports), Netherlands (8.6 percent), Belgium (8.1 percent), and India (6.9 percent). Balance of Trade in Nigeria averaged 201916.59 NGN Millions from 1981 until 2018, reaching an all time high of 2177553.08 NGN Millions in October of 2011 and a record low of -592200.72 NGN Millions in March of 2011.

Nigeria Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-06 08:00 AM Balance of Trade NGN 700.7B NGN 836.6B NGN 721.6B
2018-09-06 08:00 AM Balance of Trade NGN 768.3B NGN 700.7B NGN 684.9B
2018-09-06 08:00 AM Balance of Trade NGN 887.6B NGN 768.3B NGN 722.4B
2018-12-11 12:00 PM Balance of Trade NGN 756.2B
2018-12-11 12:00 PM Balance of Trade NGN 425.9B
2018-12-11 12:00 PM Balance of Trade NGN 887.6B NGN 528.2B


Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade 887641.12 768264.59 2177553.08 -592200.72 NGN Millions [+]
Exports 1482223.15 1556488.15 2648881.76 322.93 NGN Millions [+]
Imports 594582.03 788223.56 1554732.90 167.88 NGN Millions [+]
Current Account 5735.86 3523.00 10383.67 -5695.27 USD Million [+]
Current Account to GDP 2.00 -1.80 32.80 -18.70 percent [+]
Terms of Trade 109.20 111.10 160.25 49.48 Index Points [+]
Foreign Direct Investment 435.64 808.56 3084.90 435.64 USD Million [+]
Capital Flows 1792.62 909.16 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.40 21.40 21.40 21.37 Tonnes [+]
Crude Oil Production 1772.00 1634.00 2475.00 675.00 BBL/D/1K [+]
External Debt 22083.44 22071.91 22083.44 3627.50 USD Million [+]
Terrorism Index 9.01 9.31 9.31 3.86 [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Nigeria Balance of Trade

Exports of commodities (oil and natural gas) is the main factor behind Nigeria's growth and accounts for more than 91% of total exports. In 2014, Europe and Asia were the country's main trade partners. Europe accounted for 43% of total sales and 34% of total imports while Asia accounted for 29% of total shipments and 43% of total purchases. This page provides - Nigeria Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Balance of Trade - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
887641.12 768264.59 2177553.08 -592200.72 1981 - 2018 NGN Millions Monthly




Country Last
Argentina 314.00 Sep/18
Australia 3017.00 Sep/18
Brazil 6121.36 Oct/18
Canada -416.30 Sep/18
China 340.16 Oct/18
Euro Area 11671.20 Aug/18
France -5663.00 Sep/18
Germany 18395.00 Sep/18
India -13980.00 Sep/18
Indonesia -1819.90 Oct/18
Italy 2564.00 Aug/18
Japan 139.56 Sep/18
Mexico -194.00 Sep/18
Netherlands 4949.00 Sep/18
Russia 18485.00 Sep/18
Saudi Arabia 162782.00 Jun/18
Singapore 3685.26 Sep/18
South Africa -2950.00 Sep/18
South Korea 6552.00 Oct/18
Spain -3057300.00 Aug/18
Switzerland 1447.00 Sep/18
Turkey -1869.47 Sep/18
United Kingdom -27.00 Sep/18
United States -54019.00 Sep/18


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