The National Bureau of Statistics (NBS) says Nigeria
recorded a N12.59 trillion merchandise trade surplus in the second quarter (Q2)
of 2026.
In its foreign trade statistics report on Monday, the NBS
said total merchandise trade stood at N41.44 trillion in Q2 2026, representing
a 5.61 percent increase from N39.24 trillion recorded in the corresponding
period of 2025.
“The merchandise trade balance remained positive at
₦12,596.86 billion in Q2 2026, representing a 101.32% increase compared with
the value recorded in the corresponding quarter of 2025,” the report said.
The statistics office added that the figure also increased
by 19.13 percent compared to N34.78 trillion recorded in the preceding quarter
(Q1 2026).
“In the quarter under review, exports accounted for 65.20%
of total trade valued at ₦27,020.88 billion,” NBS said.
“This represents an 18.77% increase from the ₦22,750.74
billion recorded in the corresponding quarter of 2025 and a 27.64% increase
from ₦21,169.27 billion value recorded in Q1 2026.”
According to the NBS, crude oil remained Nigeria’s major
exported commodity in Q2 2026, valued at N12.91 trillion and accounting for
47.79 percent of total exports.
The report added that non-crude oil exports stood at N14.10
trillion, accounting for 52.21 percent of total exports, while non-oil products
contributed N3.72 trillion or 13.80 percent of total exports.
On the import side, the statistics firm said imports
accounted for 34.80 percent of total trade, with a value of N14.42 trillion in
Q2 2026.
The figure represents a 12.55 percent decrease compared to
N16.49 trillion recorded in Q2 2025, and a 5.91 percent increase from N13.61
trillion recorded in Q1 2026.
Analysis by the statistics firm showed that China remained
the country’s largest source of imports, with goods valued at N5.91 trillion,
representing 41.02 percent of total imports.
The NBS said imports from the United States stood at N1
trillion (6.97 percent), followed by India with N924.46 billion (6.41 percent),
the Netherlands with N409.81 billion (2.84 percent), and Germany with imports
valued at N395.87 billion (2.74 percent).
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