NBS said the total trade rose by 5.61 per cent from N39.244.42 trillion recorded in the corresponding quarter of 2025 and a 19.13 per cent increase from N34.788.59 trillion recorded in the preceding quarter.
Nigeria recorded N12.596trillion trade surplus in the second quarter of 2026. In the period under review, the country’s export hit N27.020trillion, while its import was N14.424trillion, bringing the total to N41.444trillion in the quarter.
The National Bureau of Statistics (NBS) disclosed this in its “Foreign Trade in Goods Statistics Report – Q2 2026,” that was released yesterday.
In its overview, the NBS report said, “Nigeria’s total merchandise trade stood at N41.444.89 trillion in Q2 2026… The merchandise trade balance remained positive at N12.596.86 billion in Q2 2026.”
NBS said the total trade rose by 5.61 per cent from N39.244.42 trillion recorded in the corresponding quarter of 2025 and a 19.13 per cent increase from N34.788.59 trillion recorded in the preceding quarter.
In the quarter under review, NBS stressed that exports accounted for 65.20 per cent of total trade valued at N27,020.88 trillion.
This represents an 18.77 per cent increase from the N22.750.74 trillion recorded in the corresponding quarter of 2025 and a 27.64 per cent increase from N21.169.27 trillion value recorded in Q1 2026.
Analysis shows that crude oil remained Nigeria’s major exported commodity in the second quarter of 2026, valued of ₦12.914.33 trillion and accounting for 47.79 per cent of total exports.
Further analysis reveals that non-crude oil exports were valued at ₦14.106.55 trillion, representing 52.21 trillion of total exports, of which non-oil products contributed ₦3.729.67 trillion, or 13.80 per cent of total exports.
NBS stressed that import accounted for 34.80 per cent of total trade in the second quarter of 2026, with a value of ₦14.424.01 trillion.
This represents a 12.55 per cent decrease from ₦16.493.67 trillion recorded in Q2 2025 and a 5.91 per cent increase from ₦13,619.33 billion recorded in Q1 2026.
The report added that the merchandise trade balance remained positive at ₦12.596.86 billion in Q2 2026, representing a 101.32 per cent increase compared with the value recorded in the corresponding quarter of 2025.
In the quarter under review, Nigeria imports were mainly sourced from Asia, valued at ₦8.563.63 trillion representing 59.37 per cent of total imports.
According to the report, this was followed by imports from Europe valued at ₦3.064.46 trillion or 21.25 per cent, America with ₦1,591.09 trillion or 11.03 per cent, while imports from Oceania stood at ₦100.97 trillion or 0.70 per cent.
Imports from African countries, said NBS, stood at ₦1.103.86 trillion or 7.65 per cent of total imports; of which imports from ECOWAS Member States amounted to ₦269.06billion or 24.37 per cent of imports from the continent.
Continuing, the report said, “Further analysis of Nigeria’s trading partners shows that imports from China were valued at ₦5,916.40 billion, representing 41.02% of total imports. This was followed by imports from the United States of America, valued at ₦1.005.27 trillion, representing 6.97 per cent of total imports; India, with imports valued at ₦924.46 trillion, or 6.41 trillion; the Netherlands, with goods valued at ₦409.81 trillion, or 2.84 per cent of total imports; and Germany, with goods valued at ₦395.87 billion, or 2.74 per cent.”
