Nigeria Balance of Trade  1981-2017 | 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 2333 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
2017-03-16 12:00 PM Dec
2017-03-16 12:00 PM Nov
2017-03-16 12:00 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 1940.00 1536.00 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 January of 2017.

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



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Argentina 100.00 Nov/16
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Australia 1243.00 Nov/16
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Brazil 4415.00 Dec/16
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Cuba -9578.00 Dec/15
Cyprus -338508.00 Nov/16
Czech Republic 37502.29 Nov/16
Denmark 5123.30 Nov/16
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Dominican Republic -589.40 Jun/16
East Timor -39175.91 Jun/16
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Equatorial Guinea 2723.70 Dec/10
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Euro Area 25941.20 Nov/16
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Germany 22618.00 Nov/16
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Guinea 32.97 Sep/16
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Hungary 280000.00 Nov/16
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Iraq 4397.00 Dec/15
Ireland 4044600.00 Nov/16
Israel -1442.80 Dec/16
Italy 4202.85 Nov/16
Ivory Coast 1256.00 Dec/15
Jamaica -723200.00 Jun/16
Japan 153.00 Nov/16
Jordan -746551.00 Oct/16
Kazakhstan 1297.60 Nov/16
Kenya -73063.30 Oct/16
Kosovo -202700.00 Nov/16
Kuwait 1422.20 Sep/16
Kyrgyzstan -208.00 Nov/16
Laos -339.15 Jun/16
Latvia -122.10 Nov/16
Lebanon -1222.52 Oct/16
Lesotho -2305.61 Sep/16
Liberia -82.20 Sep/16
Libya -7687.60 Dec/15
Liechtenstein 327117.00 Sep/16
Lithuania -26.10 Nov/16
Luxembourg -0.80 Oct/16
Macau -6026970.00 Nov/16
Macedonia -186849.00 Nov/16
Madagascar -234693.00 Sep/16
Malawi -53950.00 Mar/16
Malaysia 9030.00 Nov/16
Maldives -157.50 Sep/16
Mali -226.10 Sep/15
Malta -102800.00 Nov/16
Mauritania -79.64 Mar/16
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Mexico 200.00 Nov/16
Moldova -135.80 Nov/16
Monaco -104.50 Jun/16
Mongolia 362.30 Dec/16
Montenegro -132470.00 Nov/16
Morocco -13866.00 Nov/16
Mozambique -434.30 Sep/16
Myanmar -181.40 Apr/16
Namibia -6654.37 Sep/16
Nepal -80884.00 Jun/16
Netherlands 5544.00 Nov/16
New Caledonia -7307.00 Oct/16
New Zealand -704.62 Nov/16
Nicaragua -212.90 Sep/16
Niger -108402.00 Sep/16
Nigeria -27238.30 Sep/16
North Korea -476.67 Dec/15
Norway 23279.00 Dec/16
Oman 119.20 Jul/16
Pakistan -289139.00 Dec/16
Palestine -387.80 Nov/16
Panama -961388.00 Nov/16
Papua New Guinea 3223.00 Jun/16
Paraguay -453352.00 Dec/16
Peru 279.00 Nov/16
Philippines -2566000.00 Nov/16
Poland 102.00 Nov/16
Portugal -790.68 Nov/16
Puerto Rico 2801.60 Oct/16
Qatar 9630.00 Nov/16
Republic of the Congo 4092.35 Dec/10
Romania -865.50 Nov/16
Russia 9137.00 Nov/16
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Saudi Arabia 73133.00 Sep/16
Senegal -201.40 Nov/16
Serbia -320.40 Nov/16
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Sierra Leone -52.89 Jun/16
Singapore 6120.70 Dec/16
Slovakia 287.00 Nov/16
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South Africa -1091.85 Nov/16
South Korea 7000.00 Dec/16
South Sudan -104.70 Dec/15
Spain -1246304.00 Nov/16
Sri Lanka -922.00 Nov/16
Sudan -338394.00 Sep/16
Suriname 42.20 Sep/16
Swaziland 1037.15 Mar/16
Sweden -1100.00 Nov/16
Switzerland 3636.00 Nov/16
Syria 9394.50 Dec/10
Taiwan 4864.00 Dec/16
Tajikistan -188.00 Nov/16
Tanzania -88.90 Oct/16
Thailand 1540.00 Nov/16
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia -992.50 Dec/16
Turkey -4113.35 Nov/16
Turkmenistan 2181.97 Dec/15
Uganda -131.90 Nov/16
Ukraine -235.50 Nov/16
United Arab Emirates 328300.00 Dec/15
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Uruguay -140377.00 Nov/17
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -494.00 Dec/16
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16