Nigeria’s external trade rises 101% to N41.44trn in Q2
The National Bureau of Statistics (NBS) has stated that Nigeria recorded a trade surplus of N12.59trn from the total N41.44trn trade with other countries conducted in the second quarter of 2026. The NBS in its Foreign Trade report stated that the surplus represented a 101.32% increase compared with the value recorded in the corresponding quarter […]
The National Bureau of Statistics (NBS) reported a significant 101% increase in Nigeria's external trade to N41.44trn in the second quarter of 2026, as compared to the previous quarter. This surge in trade surplus can be attributed to a substantial rise in exports, which accounted for 65.20% of the total trade value. Crude oil remained the leading exported commodity, valued at N12.91trn and constituting 47.79% of total exports.
Non-crude oil exports, valued at N14.10trn, accounted for the remaining 52.21% of total exports. Notably, non-oil products contributed N3.72trn, or 13.80%, to total exports. The leading source of imports during this period was China, followed by the United States of America, India, The Netherlands, and Germany. Imports of agricultural goods saw a 1.63% increase, while raw material imports rose by 4.11%. Solid mineral imports, however, decreased by 19.60% compared to the previous quarter.
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