In Q1, Nigeria records N5.17 trn trade surplus
In Q1, Nigeria records N5.17 trn trade surplus
Nigeria recorded an N5.17 trillion trade surplus in the first quarter of 2025 (Q1’25).
This represents a 52 per cent quarter-on-quarter (QoQ) rise compared to N3.4 trillion recorded in Q4’24.
On a year-on-year, YoY basis, the trade surplus grew by 17.5 per cent from N4.4 trillion in Q1’24.
The National Bureau of Statistics, NBS, disclosed this in its Foreign Trade in Goods Statistics Report for Q1’25.
According to NBS, Nigeria’s total merchandise trade stood at N36.024 trillion in Q1’25, representing
an increase of 6.19 per cent compared to t N33.92 trillion recorded in the corresponding period of 2024 and a decrease of 1.58 per cent compared to the value recorded in the preceding quarter (N36.6 trillion).
The Bureau also said that the value of total imports stood at N15.42 trillion in Q1’25, representing a rise of 4.59 per cent from the value recorded in the corresponding quarter of 2024 (N14.75 trillion) and decreased by 7.02 per cent compared to the value recorded in Q4, 2024 (N16.59 trillion)
NBS noted that exports in Q1’25 were valued at N20.59 trillion, reflecting a 7.42 per cent rise compared to N19.17 trillion in the corresponding quarter of 2024 and a 2.92 per cent increase compared to N20 trillion in Q4’24.
