Nigeria recorded a N12.6tn trade surplus in Q2 2026 as exports rose to N27.02tn, while imports stood at N14.42tn, NBS reports.
Nigeria Records N12.6tn Trade Surplus as Exports Hit N27tn in Q2
Nigeria recorded a merchandise trade surplus of N12.596 trillion in the second quarter of 2026, as the value of the country’s exports significantly outpaced imports during the period.
The National Bureau of Statistics disclosed this in its Foreign Trade in Goods Statistics Report – Q2 2026, released on Monday.
According to the report, Nigeria’s total merchandise trade stood at N41.444 trillion in the quarter, comprising exports valued at N27.020 trillion and imports worth N14.424 trillion.
In its overview, the NBS said, “Nigeria’s total merchandise trade stood at N41.444.89 trillion in Q2 2026… The merchandise trade balance remained positive at N12.596.86 billion in Q2 2026.”
The statistics bureau said total trade increased by 5.61 per cent compared with the N39.244 trillion recorded in the corresponding quarter of 2025 and rose by 19.13 per cent from the N34.788 trillion recorded in the first quarter of 2026.
Exports accounted for 65.20 per cent of total merchandise trade, with their value rising to N27.020 trillion during the quarter.
The figure represented an 18.77 per cent increase from the N22.750 trillion recorded in Q2 2025 and a 27.64 per cent rise from the N21.169 trillion recorded in Q1 2026.
Crude oil remained Nigeria’s leading export commodity, with exports valued at N12.914 trillion, representing 47.79 per cent of total exports during the quarter.
Non-crude oil exports, however, accounted for a larger share of the country’s export earnings, valued at N14.106 trillion or 52.21 per cent of total exports. Within this category, non-oil products contributed N3.729 trillion, representing 13.80 per cent of total exports.
On the import side, NBS said imports accounted for 34.80 per cent of total trade, with a value of N14.424 trillion.
The figure represented a 12.55 per cent decline from the N16.493 trillion recorded in Q2 2025, although imports increased by 5.91 per cent compared with the N13.619 trillion recorded in Q1 2026.
The positive trade balance of N12.596 trillion recorded in Q2 2026 represented a 101.32 per cent increase compared with the corresponding period of 2025, according to the NBS report.
Nigeria sourced the bulk of its imports from Asia during the quarter, with goods from the region valued at N8.563 trillion, accounting for 59.37 per cent of total imports.
Europe followed with imports worth N3.064 trillion, representing 21.25 per cent, while imports from the Americas stood at N1.591 trillion or 11.03 per cent.
Imports from Oceania were valued at N100.97 billion, representing 0.70 per cent of total imports, while African countries supplied goods worth N1.103 trillion, accounting for 7.65 per cent.
Of the imports sourced from Africa, N269.06 billion, representing 24.37 per cent, came from ECOWAS member states.
China remained Nigeria’s dominant import partner, supplying goods valued at N5.916 trillion, which represented 41.02 per cent of total imports.
The United States followed with imports valued at N1.005 trillion or 6.97 per cent, while India accounted for N924.46 billion, representing 6.41 per cent of total imports.
The Netherlands supplied goods valued at N409.81 billion, representing 2.84 per cent, while Germany accounted for N395.87 billion or 2.74 per cent of Nigeria’s total imports.
The latest figures underline the continued dominance of exports in Nigeria’s merchandise trade, even as the country’s import bill remained heavily concentrated in Asian markets, particularly China.
