Nigeria Balance of Trade  1981-2016 | Data | Chart | Calendar | Forecast

Nigeria reported a NGN 171.3 million trade deficit in March of 2016, compared to a NGN 168.7 million surplus a year earlier. It was the biggest gap recorded since May of 2011 led by a sharp fall in exports due to lower oil prices. Year-on-year, shipments slumped 65 percent to NGN 282 million and imports sank 31 percent to NGN 453.3 million. In the first quarter of the year, the country recorded a NGN 184 million trade gap as shipments dropped 34.6 percent and imports declined 7.8 percent. Balance of Trade in Nigeria averaged 201123.70 NGN Millions from 1981 until 2015, 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. Balance of Trade in Nigeria is reported by the National Bureau of Statistics, Nigeria.

Nigeria Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
-171309.90 50075.40 2177553.08 -592200.72 1981 - 2016 NGN Millions Monthly
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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-31 12:00 PM Jan NGN -62.8B NGN 64.9B NGN 18B
2016-05-31 12:00 PM Feb NGN 50B NGN -62.8B NGN 21.45B
2016-05-31 12:00 PM Mar NGN -171.3B NGN 50B NGN 32B
2016-08-31 01:00 PM May NGN -100.3B
2016-08-31 01:00 PM Apr NGN -171.3B NGN -134.6B
2016-08-31 02:00 PM Jun NGN -121.7B

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade -171309.90 50075.40 2177553.08 -592200.72 NGN Millions [+]
Exports 282024.60 695652.40 2648881.76 322.93 NGN Millions [+]
Imports 453334.50 520887.40 1554732.90 167.88 NGN Millions [+]
Current Account -721.06 -2013.91 9455.37 -5695.27 USD Million [+]
Current Account to GDP -3.80 0.20 32.80 -18.70 percent [+]
Terms of Trade 83.84 100.17 160.25 49.48 Index Points [+]
Foreign Direct Investment 887.32 501.83 3084.90 501.83 USD Million [+]
Capital Flows -7913.87 -1125.67 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.37 21.37 21.37 21.37 Tonnes [+]
Crude Oil Production 1527.00 1379.00 2475.00 675.00 BBL/D/1K [+]
External Debt 10718.43 10617.35 10718.43 3627.50 USD Million [+]
Terrorism Index 9.21 8.20 9.21 3.86 [+]




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