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

Nigeria recorded a NGN 27238 million trade deficit in September of 2016, swinging from a NGN 197188 million surplus a year earlier. Exports increased 9.9 percent year-on-year to NGN 747760 million and imports jumped 60.4 percent to NGN 774998 million, the biggest rise since July of 2013 as a weaker currency lifted import prices. Considering the third quarter of the year, exports decreased 1 percent from a year earlier to NGN 2309 billion and imports rose 42.9 percent to NGN 2413 billion as purchases of mineral products which account for around 31 percent of total imports jumped 188 percent; boilers machinery and appliances (19.7 of total imports) rose 17.2 percent and chemicals (9.1 percent of total imports) increased 52 percent. As a result, the country reported a NGN 104 billion deficit, compared to a NGN 645 billion surplus a year earlier. Balance of Trade in Nigeria averaged 194667.55 NGN Millions from 1981 until 2016, 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.

Nigeria Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-01 12:15 PM Sep NGN -27.2B NGN -32.5B NGN 60B
2016-12-01 12:15 PM Jul NGN -44.5B NGN -188.4B NGN 10B
2016-12-01 12:15 PM Aug NGN -32.5B NGN -44.5B NGN 20B
2017-03-17 01:00 PM Dec -67.8B
2017-03-17 01:00 PM Nov -71.2B
2017-03-17 01:00 PM Oct NGN -27.2B




Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade -27238.30 -32445.40 2177553.08 -592200.72 NGN Millions [+]
Exports 747759.80 858374.70 2648881.76 322.93 NGN Millions [+]
Imports 774998.20 890820.10 1554732.90 167.88 NGN Millions [+]
Current Account -404.65 1432.44 9455.37 -5695.27 USD Million [+]
Current Account to GDP -3.80 0.20 32.80 -18.70 percent [+]
Terms of Trade 77.72 80.99 160.25 49.48 Index Points [+]
Foreign Direct Investment 673.95 887.32 3084.90 501.83 USD Million [+]
Capital Flows 7092.36 -8607.39 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.37 21.37 21.37 21.37 Tonnes [+]
Crude Oil Production 1476.00 1253.00 2475.00 675.00 BBL/D/1K [+]
External Debt 11261.89 11194.65 11261.89 3627.50 USD Million [+]
Terrorism Index 9.31 9.21 9.31 3.86 [+]



Nigeria Balance of Trade Notes

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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
-27238.30 -32445.40 2177553.08 -592200.72 1981 - 2016 NGN Millions Monthly



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Afghanistan -7159.00 Dec/15
Albania -28104.70 Oct/16
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Angola 3002.24 Dec/15
Argentina -114.00 Oct/16
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Aruba -423.80 Jun/16
Australia -1541.00 Oct/16
Austria -109.00 Sep/16
Azerbaijan 1311894.00 Jun/16
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Bahrain 1513.00 Dec/15
Bangladesh -51.80 Aug/16
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Belarus -392.10 Oct/16
Belgium 2898.90 Sep/16
Belize -138.84 Sep/16
Benin -278.15 Sep/16
Bhutan -26021.60 Dec/15
Bolivia -103.32 Jul/16
Bosnia and Herzegovina -534734.90 Sep/16
Botswana 3238.80 Sep/16
Brazil 4757.00 Nov/16
Brunei 283.10 Sep/16
Bulgaria 89.40 Sep/16
Burkina Faso -86.40 Mar/16
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Cambodia -203.30 Jul/16
Cameroon -1054.40 Dec/13
Canada -1130.00 Oct/16
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Chad 1166.10 Dec/11
Chile 43.13 Nov/16
China 446.10 Nov/16
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Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -461.20 Oct/16
Croatia -3246.52 Oct/16
Cuba -9578.00 Dec/15
Cyprus -283281.00 Sep/16
Czech Republic 47421.10 Oct/16
Denmark 2304.70 Oct/16
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -39175.91 Jun/16
Ecuador 5050.00 Sep/16
Egypt -2577.00 Sep/16
El Salvador -386.50 Oct/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -150.80 Oct/16
Ethiopia -3254.50 Jun/16
Euro Area 26481.80 Sep/16
European Union 510.20 Sep/16
Fiji -172126.00 Jun/16
Finland -190.00 Oct/16
France -5202.00 Oct/16
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -472.40 Oct/16
Germany 19300.00 Oct/16
Ghana -712.40 Jun/16
Greece -1743.00 Oct/16
Guatemala -615.90 Sep/16
Guinea -308.73 Jun/16
Guinea Bissau -23.80 Dec/14
Guyana -13.70 Jun/16
Haiti -229.96 Jun/16
Honduras -479.70 Aug/16
Hong Kong -37223.00 Oct/16
Hungary 274000.00 Oct/16
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India -10160.00 Oct/16
Indonesia 1206.80 Oct/16
Iran 4258.00 Dec/15
Iraq 4397.00 Dec/15
Ireland 3769800.00 Sep/16
Israel -1354.00 Oct/16
Italy 3669.89 Sep/16
Ivory Coast 1256.00 Dec/15
Jamaica -680800.00 Mar/16
Japan 496.17 Oct/16
Jordan -536755.50 Sep/16
Kazakhstan 1044.90 Sep/16
Kenya -78222.90 Sep/16
Kosovo -214200.00 Oct/16
Kuwait 1222.30 Jun/16
Kyrgyzstan -184.40 Sep/16
Laos -594.89 Dec/15
Latvia -87.10 Sep/16
Lebanon -1193.95 Sep/16
Lesotho -2324.11 Jun/16
Liberia -80.10 Jun/16
Libya -7687.60 Dec/15
Liechtenstein 327117.00 Sep/16
Lithuania -156.20 Oct/16
Luxembourg -0.43 Sep/16
Macau -5326200.00 Oct/16
Macedonia -177613.00 Oct/16
Madagascar -234693.00 Sep/16
Malawi -53950.00 Mar/16
Malaysia 9756.67 Oct/16
Maldives -155.00 Aug/16
Mali -226.10 Sep/15
Malta -273000.00 Oct/16
Mauritania -79.64 Mar/16
Mauritius -6179.00 Sep/16
Mexico -900.00 Oct/16
Moldova -179.40 Oct/16
Monaco -104.50 Jun/16
Mongolia 72.90 Oct/16
Montenegro -138195.00 Oct/16
Morocco -12712.00 Sep/16
Mozambique -434.30 Sep/16
Myanmar -198.70 Feb/16
Namibia -8369.58 Jun/16
Nepal -77662.70 Mar/16
Netherlands 5421.00 Sep/16
New Caledonia -12812.00 Aug/16
New Zealand -846.00 Oct/16
Nicaragua -196.00 Aug/16
Niger -132100.00 Jun/16
Nigeria -27238.30 Sep/16
North Korea -476.67 Dec/15
Norway 10360.56 Oct/16
Oman 30.50 Jun/16
Pakistan -237429.00 Oct/16
Palestine -339.90 Sep/16
Panama -893332.80 Sep/16
Papua New Guinea 4636.00 Mar/16
Paraguay -310239.00 Nov/17
Peru 274.70 Oct/16
Philippines -2163034.12 Oct/16
Poland -200.00 Sep/16
Portugal -870.35 Oct/16
Puerto Rico 747.70 Aug/16
Qatar 7703.00 Oct/16
Republic of the Congo 4092.35 Dec/10
Romania -786.80 Sep/16
Russia 7383.00 Sep/16
Rwanda -127.35 Jul/16
Sao Tome and Principe -29.78 Sep/16
Saudi Arabia 56231.00 Jun/16
Senegal -168.70 Sep/16
Serbia -380.50 Oct/16
Seychelles -40.23 Oct/16
Sierra Leone -52.89 Jun/16
Singapore 5156.80 Oct/16
Slovakia 456.00 Oct/16
Slovenia 95.90 Oct/16
Somalia -1473.48 Dec/15
South Africa -4410.97 Oct/16
South Korea 7992.05 Nov/16
South Sudan -104.70 Dec/15
Spain -2230800.00 Sep/16
Sri Lanka -645.00 Sep/16
Sudan -424613.00 Jun/16
Suriname 42.20 Sep/16
Swaziland 1037.15 Mar/16
Sweden -2700.00 Oct/16
Switzerland 2678.34 Oct/16
Syria 9394.50 Dec/10
Taiwan 4264.00 Nov/16
Tajikistan -198.20 Oct/16
Tanzania -101.00 Sep/16
Thailand 250.00 Oct/16
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia -1454.50 Oct/16
Turkey -4160.00 Oct/16
Turkmenistan 2181.97 Dec/15
Uganda -171.20 Oct/16
Ukraine -295.00 Sep/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -1971.00 Oct/16
United States -42601.00 Oct/16
Uruguay -45370.00 Oct/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -400.00 Nov/16
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16