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.