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.

Nigeria Balance of Trade
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-06-14 09:30 AM Jan NGN 355B NGN 227B
2017-06-14 09:30 AM Feb NGN 223B NGN 355B
2017-06-14 09:30 AM Mar NGN 142B NGN 223B
2017-08-12 12:00 PM Jun
2017-08-12 12:00 PM May
2017-08-12 12:00 PM Apr NGN 142B




Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade 141756.12 223088.68 2177553.08 -592200.72 NGN Millions [+]
Exports 929049.62 981480.11 2648881.76 322.93 NGN Millions [+]
Imports 787293.50 758391.43 1554732.90 167.88 NGN Millions [+]
Current Account 3248.86 -48.89 9455.37 -5695.27 USD Million [+]
Current Account to GDP -1.80 -3.10 32.80 -18.70 percent [+]
Terms of Trade 100.23 102.71 160.25 49.48 Index Points [+]
Foreign Direct Investment 1269.22 1386.21 3084.90 501.83 USD Million [+]
Capital Flows -1277.50 -5821.99 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.37 21.37 21.37 21.37 Tonnes [+]
Crude Oil Production 1640.00 1404.00 2475.00 675.00 BBL/D/1K [+]
Terrorism Index 9.31 9.21 9.31 3.86 [+]
External Debt 13807.59 11406.28 13807.59 3627.50 USD Million [+]

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



Nigeria Balance of Trade Notes

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 June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
141756.12 223088.68 2177553.08 -592200.72 1981 - 2017 NGN Millions Monthly



balance of trade by Country

Last
Australia 555.00 Apr/17
Brazil 7661.00 May/17
Canada -370.30 Apr/17
China 407.90 May/17
Euro Area 17858.90 Apr/17
France -5535.00 Apr/17
Germany 18078.00 Apr/17
India -13841.70 May/17
Indonesia 474.00 May/17
Italy 3601.32 Apr/17
Japan -203.37 May/17
Mexico -1079.20 May/17
Netherlands 3833.00 Apr/17
Russia 8001.00 Apr/17
South Korea 5990.00 May/17
Spain -1198829.00 Apr/17
Switzerland 3400.03 May/17
Turkey -4945.41 Apr/17
United Kingdom -2050.00 Apr/17
United States -47617.00 Apr/17