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

Nigeria reported a NGN 26.4 million trade surplus in December of 2015, down from NGN 298 million a year earlier. It is the lowest surplus since March of 2010 as falling oil prices in the last months of 2015 dragged exports down. Year-on-year, shipments dropped by 45 percent to NGN 533.8 million and imports decreased by 24.7 percent to NGN 507.4 million. In the last quarter of the year, sales sank 29.7 percent and imports declined 22.4 percent. Considering full 2015, the country’s total trade stood at NGN 16.4 million or 30.6 percent less than in 2014. Crude oil trade decreased by NGN 4.94 million or 41.6 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
26385.50 174765.00 2177553.08 -592200.72 1981 - 2015 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-18 01:00 PM Nov NGN 174.8B NGN 299.2B
2016-03-18 01:00 PM Oct NGN 299.2B NGN 197.2B
2016-03-18 01:00 PM Dec NGN 26.4B NGN 174.8B
2016-05-30 01:00 PM Jan NGN 18B
2016-05-30 01:00 PM Feb NGN 29B
2016-05-30 02:00 PM Mar NGN 21.45B

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade 26385.50 174765.00 2177553.08 -592200.72 NGN Millions [+]
Exports 533774.30 695652.40 2648881.76 322.93 NGN Millions [+]
Imports 507388.90 520887.40 1554732.90 167.88 NGN Millions [+]
Current Account -2013.91 -5695.27 9455.37 -5695.27 USD Million [+]
Current Account to GDP 2.60 3.90 37.90 -18.70 percent [+]
Terms of Trade 100.61 102.28 160.25 49.48 Index Points [+]
Foreign Direct Investment 501.83 1213.98 3084.90 501.83 USD Million [+]
Capital Flows -1125.67 406.61 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.37 21.37 21.37 21.37 Tonnes [+]
Crude Oil Production 1881.00 1949.00 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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Australia -2163.00 Mar/16
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Brazil 4860.00 Apr/16
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Japan 754.99 Mar/16
Jordan -773525.00 Jan/16
Kazakhstan 1187.60 Feb/16
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Kuwait 1049.00 Dec/15
Kyrgyzstan -167.59 Dec/15
Laos -488.34 Sep/15
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Macau -4479038.32 Mar/16
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Madagascar -30435.00 Dec/15
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Malaysia 7351.55 Feb/16
Maldives -127.20 Jan/16
Mali -100.60 Mar/15
Malta -557987.00 Feb/16
Mauritania -24.89 Dec/15
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Mexico 155.00 Mar/16
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Mongolia 98.70 Mar/16
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Netherlands 3952.00 Feb/16
New Caledonia -9528.00 Feb/16
New Zealand 117.00 Mar/16
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Niger -441985.00 Sep/15
Nigeria 26385.50 Dec/15
North Korea -476.67 Dec/15
Norway 9068.13 Mar/16
Oman 329.00 Sep/15
Pakistan -193845.00 Mar/16
Palestine -309.20 Jan/16
Panama -744011.50 Feb/16
Papua New Guinea 4191.00 Sep/15
Paraguay 140697.00 Mar/16
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Poland 341.00 Feb/16
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Republic of the Congo 4092.35 Dec/10
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Singapore 3656.20 Mar/16
Slovakia 459.60 Feb/16
Slovenia 120.06 Feb/16
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South Africa 2915.79 Mar/16
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Spain -1761000.00 Feb/16
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Sweden 3900.00 Mar/16
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Syria 9394.50 Dec/10
Taiwan 4502.06 Mar/16
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Tanzania -30.40 Jan/16
Thailand 2966.00 Mar/16
Togo -68.29 Dec/14
Trinidad and Tobago 339.40 Sep/15
Tunisia -1100.60 Mar/16
Turkey -4950.00 Mar/16
Turkmenistan 2431.94 Dec/14
Uganda -120.80 Feb/16
Ukraine -436.00 Feb/16
United Arab Emirates 328300.00 Dec/15
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Uzbekistan 455.00 Dec/15
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Vietnam 100.00 Apr/16
Yemen -2914.30 Dec/13
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Zimbabwe -290.99 Dec/14