National Bureau of Statistics (NBS) has reported that Nigeria recorded a trade surplus of N7.46 trillion in the second quarter of 2025.
Gatekeepers News reports that the surplus came as exports reached N22.75 trillion against imports of N15.28 trillion, pushing total trade to N38.03 trillion.
The bureau noted that total trade rose by 20.05 percent compared to the same period in 2024 and by 5.59 percent against the first quarter of 2025.
Exports accounted for nearly 60 percent of total trade, increasing by 28.43 percent year-on-year and by 10.45 percent quarter-on-quarter.
Crude oil remained the country’s biggest export, worth N11.96 trillion or 52.6 percent of total exports, while non-crude oil exports stood at N10.78 trillion. Non-oil products contributed N3.04 trillion.
In terms of imports, mineral fuels led with N4.43 trillion (28.95 percent), followed by machinery and transport equipment at N4.34 trillion (28.38 percent) and chemicals with N2.46 trillion (16.10 percent).
Spain was Nigeria’s largest export market in Q2, with N2.47 trillion worth of goods, followed by India, France, the Netherlands, and Canada. Together, these five countries accounted for nearly 40 percent of Nigeria’s total exports.
On the import side, China remained Nigeria’s top trading partner with N4.96 trillion worth of goods, representing 32.45 percent of total imports. United States, India, Netherlands, and United Arab Emirates followed as other key import sources.
