Nigeria Balance of Trade  1981-2018 | Data | Chart | Calendar | Forecast

Nigeria's trade surplus widened to NGN 837.1 billion in March of 2018 from NGN 114.1 billion in the same month a year earlier. Exports rose 54.5 percent year-on-year to NGB 1441.8 billion, mainly due to higher sales of crude oil (57.3 percent); raw material (105.6 percent) and mineral goods (519.4 percent). Main export partners were: Netherlands (21 percent of total exports), India (18 percent), Spain (8 percent), the US (8 percent) and France (6 percent). Imports dropped 23.4 percent to NGN 604.7 billion, dragged by other crude oil products (-63.6 percent); raw material (-0.6 percent); agricultural goods (-5.3 percent) and solid mineral (-25 percent). The most important import partners were: China (21 percent of total imports), Netherlands (12 percent), Belgium (11 percent) and the US (7 percent). Considering the first quarter of the year, the country’s trade balance posted a surplus of NGN 2175.1 billion, compared with a NGN 253.3 billion deficit in the same period of 2016. Balance of Trade in Nigeria averaged 198382.05 NGN Millions from 1981 until 2017, 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
2018-06-06 09:30 AM Balance of Trade NGN 837.1B NGN 880.9B NGN 548.2B
2018-06-06 09:30 AM Balance of Trade NGN 457.1B NGN 761.0B NGN 687.7B
2018-06-06 09:30 AM Balance of Trade NGN 880.9B NGN 457.1B NGN 810B
2018-09-03 08:00 AM Balance of Trade NGN 722.4B
2018-09-03 08:00 AM Balance of Trade NGN 684.9B
2018-09-03 08:00 AM Balance of Trade NGN 837.1B NGN 721.6B


Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade 837066.25 880926.13 2177553.08 -592200.72 NGN Millions [+]
Exports 1441774.39 1745673.92 2648881.76 322.93 NGN Millions [+]
Imports 604708.14 864747.79 1554732.90 167.88 NGN Millions [+]
Current Account 4468.61 3656.15 10383.67 -5695.27 USD Million [+]
Current Account to GDP 2.00 -1.80 32.80 -18.70 percent [+]
Terms of Trade 110.30 104.66 160.25 49.48 Index Points [+]
Foreign Direct Investment 808.56 959.52 3084.90 501.83 USD Million [+]
Capital Flows -10292.68 -3858.67 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.40 21.40 21.40 21.37 Tonnes [+]
Crude Oil Production 1511.00 1500.00 2475.00 675.00 BBL/D/1K [+]
External Debt 22071.91 18913.44 22071.91 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
837066.25 880926.13 2177553.08 -592200.72 1981 - 2018 NGN Millions Monthly




balance of trade by Country
Country Last
Australia 827.00 May/18
Brazil 5881.58 Jun/18
Canada -2771.20 May/18
China 416.13 Jun/18
Euro Area 16514.10 May/18
France -6005.00 May/18
Germany 19669.00 May/18
India -16600.00 Jun/18
Indonesia 1742.60 Jun/18
Italy 3377.54 May/18
Japan 721.00 Jun/18
Mexico -1587.00 May/18
Netherlands 5030.00 May/18
Russia 15151.00 May/18
South Korea 6331.21 Jun/18
Spain -3050045.00 Apr/18
Switzerland 2255.00 May/18
Turkey -7759.34 May/18
United Kingdom -2790.00 May/18
United States -43053.00 May/18


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