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 81.05 81.90 160.25 49.48 Index Points [+]
Foreign Direct Investment 673.95 887.32 3084.90 501.83 USD Million [+]
Capital Flows 5330.35 7092.36 20302.97 -15439.95 USD Million [+]
Gold Reserves 21.37 21.37 21.37 21.37 Tonnes [+]
Crude Oil Production 1604.00 1370.00 2475.00 675.00 BBL/D/1K [+]
Terrorism Index 9.31 9.21 9.31 3.86 [+]
External Debt 11261.89 11261.89 11261.89 3627.50 USD Million [+]



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 February 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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Australia 3511.00 Dec/16
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Brazil 2724.00 Jan/17
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Denmark 3788.10 Dec/16
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Germany 18700.00 Dec/16
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Italy 5797.75 Dec/16
Ivory Coast 1256.00 Dec/15
Jamaica -723200.00 Jun/16
Japan -1086.90 Jan/17
Jordan -721456.00 Dec/16
Kazakhstan 1443.10 Dec/16
Kenya -79843.00 Nov/16
Kosovo -247031.00 Dec/16
Kuwait 1385.00 Sep/16
Kyrgyzstan -114.40 Dec/16
Laos -339.15 Jun/16
Latvia -240.10 Dec/16
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Liechtenstein 343493.00 Dec/16
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Luxembourg -0.37 Dec/16
Macau -6002747.00 Dec/16
Macedonia -201662.00 Dec/16
Madagascar 20810.00 Dec/16
Malawi -53950.00 Mar/16
Malaysia 8720.00 Dec/16
Maldives -171.90 Nov/16
Mali -226.10 Sep/15
Malta -151832.00 Dec/16
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Mexico 28.00 Dec/16
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Monaco -104.50 Jun/16
Mongolia 151.40 Jan/17
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Morocco -16689.00 Dec/16
Mozambique -434.30 Sep/16
Myanmar -303.20 May/16
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Netherlands 5494.00 Dec/16
New Caledonia -7307.00 Oct/16
New Zealand -41.38 Dec/16
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Niger -108402.00 Sep/16
Nigeria -27238.30 Sep/16
North Korea -476.67 Dec/15
Norway 25045.75 Jan/17
Oman 90.00 Sep/16
Pakistan -309673.00 Jan/17
Palestine -372.00 Dec/16
Panama -1009640.52 Dec/16
Papua New Guinea 3223.00 Jun/16
Paraguay -209595.00 Jan/17
Peru 1023.00 Dec/16
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Poland -151.00 Dec/16
Portugal -1373.50 Dec/16
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Russia 11834.00 Dec/16
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Singapore 3287.37 Jan/17
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South Africa 12036.48 Dec/16
South Korea 3200.00 Jan/17
South Sudan -104.70 Dec/15
Spain -2447000.00 Dec/16
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Suriname 42.20 Sep/16
Swaziland -320.72 Jun/16
Sweden 1000.00 Dec/16
Switzerland 4733.00 Jan/17
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Taiwan 3494.92 Jan/17
Tajikistan -196.00 Dec/16
Tanzania -26.00 Nov/16
Thailand 940.00 Dec/16
Togo -74.03 Jun/16
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Tunisia -1221.80 Jan/17
Turkey -5598.00 Dec/16
Turkmenistan 2181.97 Dec/15
Uganda -143.40 Dec/16
Ukraine -561.70 Dec/16
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Vietnam 1150.00 Jan/17
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