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

Nigeria's trade balance posted a surplus of NGN 150.3 billion in June 2017, compared with a NGN 274.9 billion deficit in the same month of the previous year. Exports jumped 56 percent from the previous year to NGN 994.3 billion, mainly boosted by higher sales of crude oil (47 percent), other oil products (102.6 percent), manufactured goods (37.2 percent), raw material goods (447.8 percent) and agricultural goods (73.7 percent). Exports rose to Africa (70 percent), Europe (90.9 percent) and Asia (67.5 percent). Meanwhile, imports dropped 7.5 percent to NGN 844.0 billion, as purchases fell for other crude oil products (-14.8 percent) and manufactured goods (-23.3 percent). Imports shrank from Asia (-26.1 percent) and Europe (-3.7 percent). In the first half of the year, the trade balance posted a surplus of NGN 1,226 billion, compared with a NGN 826 billion gap in the same period of 2016. Balance of Trade in Nigeria averaged 194684.84 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
2017-09-14 08:00 AM Balance of Trade NGN 113B NGN 142B
2017-09-14 08:00 AM Balance of Trade NGN 244B NGN 113B
2017-09-14 08:00 AM Balance of Trade NGN 150B NGN 244B
2017-12-14 12:00 PM Balance of Trade
2017-12-14 12:00 PM Balance of Trade
2017-12-14 12:00 PM Balance of Trade NGN 150B


Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade 150316.90 243556.25 2177553.08 -592200.72 NGN Millions [+]
Exports 994272.95 1119604.78 2648881.76 322.93 NGN Millions [+]
Imports 843956.05 876048.53 1554732.90 167.88 NGN Millions [+]
Current Account 1414.21 2911.17 10383.67 -5695.27 USD Million [+]
Current Account to GDP -1.80 -3.10 32.80 -18.70 percent [+]
Terms of Trade 100.03 101.70 160.25 49.48 Index Points [+]
Foreign Direct Investment 853.87 1269.22 3084.90 501.83 USD Million [+]
Capital Flows 4341.73 -1277.50 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.37 21.37 21.37 21.37 Tonnes [+]
Crude Oil Production 1742.00 1562.00 2475.00 675.00 BBL/D/1K [+]
Terrorism Index 9.31 9.21 9.31 3.86 [+]
External Debt 15050.00 13807.59 15050.00 3627.50 USD Million [+]

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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
150316.90 243556.25 2177553.08 -592200.72 1981 - 2017 NGN Millions Monthly




balance of trade by Country

Last
Australia 460.00 Jul/17
Brazil 5599.00 Aug/17
Canada -3040.40 Jul/17
China 419.92 Aug/17
Euro Area 23156.00 Jul/17
France -5968.00 Jul/17
Germany 19500.00 Jul/17
India -11643.96 Aug/17
Indonesia 1722.60 Aug/17
Italy 6560.39 Jul/17
Japan 113.64 Aug/17
Mexico -1522.60 Jul/17
Netherlands 4711.00 Jul/17
Russia 3970.00 Jul/17
South Korea 7013.00 Aug/17
Spain -2099000.00 Jul/17
Switzerland 2173.00 Aug/17
Turkey -8842.94 Jul/17
United Kingdom -2872.00 Jul/17
United States -43689.00 Jul/17