Nigeria Balance of Trade  1981-2017 | Data | Chart | Calendar | Forecast

Trade surplus in Nigeria increased to NGN 141756.1 million in March of 2017, from a NGN 4260 million surplus a year ago, as exports rose sharply by 72.3 percent to NGN 929049.6 million and imports advanced 47.2 percent to NGN 787293.5 million. Considering the first quarter of 2017, the country posted a NGN 719.4 billion surplus, compared to a NGN 253.3 billion shortfall a year earlier. Exports surged 109.1 percent year-on-year to NGN 3005.9 billion, mainly due to sales of crude oil and natural gas. Main export partners were India (22.2 percent of total sales), the US (13.9 percent), Spain (10.8 percent), Netherlands (8.3 percent) and France (6.5 percent). Imports jumped 35.2 percent to NGN 2286.5 billion, led by fuel, gas oil and durum wheat, seed. Main import partners were China (16.8 percent), Belgium (14.9 percent), Netherlands (10.8 percent) and the US (8.1 percent). Balance of Trade in Nigeria averaged 194863.11 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.