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

Nigeria recorded a NGN 29398 million trade deficit in June of 2016, swinging from a NGN 386537 million surplus a year earlier. Exports declined 26.7 percent year-on-year to NGN 727477 million and imports went up 24.8 percent to NGN 756875 million. Considering the second quarter of the year, exports slumped 29.4 percent, mainly due to a 24.2 percent drop in sales of mineral products, which accounted for 92.7 percent of total exports, namely oil. The country exported goods mainly to India, United States, Spain, Netherlands and South Africa. Imports rose 21.3 percent as purchases of boilers, machinery and appliances which accounted for 34.9 percent of total imports jumped 105.2 percent. Total trade fell 9 percent compared to the same period a year earlier. However, on a non-seasonally adjusted basis, both exports and imports rose for the first time in the second quarter compared to the previous period. Balance of Trade in Nigeria averaged 196880.36 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. 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
-29398.00 -62648.00 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 September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-06 09:00 AM Jun NGN -29.4B NGN -62.6B NGN -121.7B
2016-09-06 09:00 AM Apr NGN -104.5B NGN -255.9B NGN -134.6B
2016-09-06 09:00 AM May NGN -62.6B NGN -104.5B NGN -100.3B
2016-11-30 01:00 PM Aug NGN 20B
2016-11-30 01:00 PM Jul NGN -29.4B NGN 10B
2016-11-30 02:00 PM Sep NGN 60B

Nigeria Trade Last Previous Highest Lowest Unit
Balance of Trade -29398.00 -62648.00 2177553.08 -592200.72 NGN Millions [+]
Exports 727477.10 586695.40 2648881.76 322.93 NGN Millions [+]
Imports 756875.10 649343.40 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 1456.00 1270.00 2475.00 675.00 BBL/D/1K [+]
External Debt 11261.89 11194.65 11261.89 3627.50 USD Million [+]
Terrorism Index 9.21 8.20 9.21 3.86 [+]




Last
Afghanistan -7159.00 Dec/15
Albania -27380.00 Jul/16
Algeria -1308.00 Dec/15
Angola 3002.24 Dec/15
Argentina 270.00 Jul/16
Armenia -134.20 Aug/16
Aruba -423.80 Jun/16
Australia -2410.00 Jul/16
Austria 130.00 Jun/16
Azerbaijan 621706.00 Mar/16
Bahamas -514.90 Dec/15
Bahrain 1513.00 Dec/15
Bangladesh -62.34 Jun/16
Barbados -254822.00 Dec/15
Belarus 32.40 Jul/16
Belgium 2544.10 Jul/16
Belize -132.80 Jul/16
Benin -191.61 Jun/16
Bhutan -26021.60 Dec/15
Bolivia -136.20 Apr/16
Bosnia and Herzegovina -526211.72 Jul/16
Botswana 2651.40 Jun/16
Brazil 4140.00 Aug/16
Brunei 417.80 Jul/16
Bulgaria -29.90 Jul/16
Burkina Faso -49.00 Sep/14
Burundi -81734.20 Apr/16
Cambodia -1748.30 May/16
Cameroon -1054.40 Dec/13
Canada -2487.90 Jul/16
Cape Verde -4499.80 Jul/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile -274.00 Aug/16
China 520.49 Aug/16
Colombia -1.16 Jul/16
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -560.60 Aug/16
Croatia -4059.88 Jul/16
Cuba -9578.00 Dec/15
Cyprus -304347.00 Jul/16
Czech Republic 24445.00 Jul/16
Denmark 8796.60 Jul/16
Djibouti -168260.00 Dec/15
Dominican Republic -631.90 Mar/16
East Timor -39175.91 Jun/16
Ecuador 204425.00 Jul/16
Egypt -3518.00 Jul/16
El Salvador -339.98 Jul/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -164.77 Jul/16
Ethiopia -3601.70 Mar/16
Euro Area 25276.10 Jul/16
European Union 3763.70 Jul/16
Fiji -112192.00 Apr/16
Finland -245.00 Jul/16
France -4505.00 Jul/16
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -493.40 Aug/16
Germany 19500.00 Jul/16
Ghana -712.40 Jun/16
Greece -1344.10 Jul/16
Guatemala -452.00 Jul/16
Guinea -308.73 Jun/16
Guinea Bissau -23.80 Dec/14
Guyana -13.70 Jun/16
Haiti -229.96 Jun/16
Honduras -403.60 Jun/16
Hong Kong -33307.00 Jul/16
Hungary 208000.00 Jul/16
Iceland -12700.00 Aug/16
India -7674.14 Aug/16
Indonesia 293.60 Aug/16
Iran 4258.00 Dec/15
Iraq 4397.00 Dec/15
Ireland 3526700.00 Jul/16
Israel -1899.30 Aug/16
Italy 7794.95 Jul/16
Ivory Coast 890.60 Dec/14
Jamaica -680800.00 Mar/16
Japan -18.71 Aug/16
Jordan -658173.00 Jun/16
Kazakhstan 1289.60 Jul/16
Kenya -79107.00 Jun/16
Kosovo -210544.00 Jul/16
Kuwait 402.00 Mar/16
Kyrgyzstan -291.40 Jun/16
Laos -594.89 Dec/15
Latvia -182.90 Jul/16
Lebanon -1258.95 Jun/16
Lesotho -3543.23 Mar/16
Liberia -99.90 May/16
Libya -17675.60 Dec/14
Liechtenstein 326579.00 Jun/16
Lithuania -178.60 Jul/16
Luxembourg -0.42 Jul/16
Macau -4867968.77 Jul/16
Macedonia -131493.00 Jul/16
Madagascar -306742.00 Jun/16
Malawi -31524.80 Sep/15
Malaysia 1907.37 Jul/16
Maldives -161.70 Jun/16
Mali -100.60 Mar/15
Malta -149432.00 Jul/16
Mauritania -79.64 Mar/16
Mauritius -8160.00 Jul/16
Mexico -1827.09 Jul/16
Moldova -148.40 Jul/16
Monaco -104.50 Jun/16
Mongolia 110.00 Aug/16
Montenegro -168082.00 Aug/16
Morocco -17306.00 Jul/16
Mozambique -1754.40 Dec/15
Myanmar -639.40 Dec/15
Namibia -6141.52 Mar/16
Nepal -77662.70 Mar/16
Netherlands 4821.00 Jul/16
New Caledonia -9890.65 Jun/16
New Zealand -1265.00 Aug/16
Nicaragua -223.90 Jun/16
Niger -441985.00 Sep/15
Nigeria -29398.00 Jun/16
North Korea -476.67 Dec/15
Norway 6763.00 Aug/16
Oman -45.20 Dec/15
Pakistan -279639.00 Aug/16
Palestine -310.20 Jul/16
Panama -918416.00 Jul/16
Papua New Guinea 3957.00 Dec/15
Paraguay -154825.00 Aug/17
Peru 484.00 Jul/16
Philippines -2053160.00 Jul/16
Poland -313.00 Jul/16
Portugal -557.44 Jul/16
Puerto Rico 2982.40 Jun/16
Qatar 6694.00 Jul/16
Republic of the Congo 4092.35 Dec/10
Romania -642.90 Jul/16
Russia 6490.00 Jul/16
Rwanda -142.60 May/16
Sao Tome and Principe -27.28 Jun/16
Saudi Arabia 16295.00 Mar/16
Senegal -159.34 Jul/16
Serbia -300.30 Jul/16
Seychelles -40.31 Jul/16
Sierra Leone -52.89 Jun/16
Singapore 5592.00 Aug/16
Slovakia 60.00 Jul/16
Slovenia 99.78 Jul/16
Somalia -1473.48 Dec/15
South Africa 5223.30 Jul/16
South Korea 5300.00 Aug/16
South Sudan -104.70 Dec/15
Spain -557800.00 Jul/16
Sri Lanka -542.00 Jul/16
Sudan -424613.00 Jun/16
Suriname 32.40 Jun/16
Swaziland 1217.38 Dec/15
Sweden 500.00 Jul/16
Switzerland 3024.63 Aug/16
Syria 9394.50 Dec/10
Taiwan 3984.83 Aug/16
Tajikistan -142.90 Jul/16
Tanzania -207.80 Jun/16
Thailand 2130.00 Aug/16
Togo -68.29 Dec/14
Trinidad and Tobago 258.50 Dec/15
Tunisia -1397.20 Aug/16
Turkey -4787.97 Jul/16
Turkmenistan 2181.97 Dec/15
Uganda -175.50 Jul/16
Ukraine -264.80 Aug/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -4502.00 Jul/16
United States -39474.00 Jul/16
Uruguay 207156.00 Jul/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam 573.00 Aug/16
Yemen -2914.30 Dec/13
Zambia -473.90 Jul/16
Zimbabwe -322.86 Mar/16