Trade Surplus Doubles to N12.59trn in Q2 2026 — NBS

Trade Surplus Doubles to N12.59trn in Q2 2026 — NBS

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 released on Monday, the NBS said total merchandise trade stood at N41.44 trillion in Q2 2026. This represents a 5.61% increase from N39.24 trillion recorded in Q2 2025, and a 19.13% increase from N34.78 trillion in Q1 2026.

“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.

Exports accounted for 65.20% of total trade, valued at ₦27.02 trillion.

This is an 18.77% increase from ₦22.75 trillion in Q2 2025, and a 27.64% increase from ₦21.17 trillion in Q1 2026.

Crude oil remained Nigeria’s major exported commodity at ₦12.91 trillion, accounting for 47.79% of total exports.

Non-crude oil exports stood at ₦14.10 trillion, or 52.21% of total exports. Non-oil products alone contributed ₦3.72 trillion, or 13.80%.

Imports accounted for 34.80% of total trade, valued at ₦14.42 trillion.

This represents a 12.55% decrease compared to ₦16.49 trillion in Q2 2025, and a 5.91% increase from ₦13.61 trillion in Q1 2026.

China remained Nigeria’s largest source of imports at ₦5.91 trillion, or 41.02% of total imports.

Other major sources were the United States with ₦1 trillion (6.97%), India with ₦924.46 billion (6.41%), the Netherlands with ₦409.81 billion (2.84%), and Germany with ₦395.87 billion (2.74%).