Nigeria’s total merchandise trade stood at ₦38,037.52 billion in Q2, 2025, a new report by the National Bureau of Statistics (NBS) has disclosed.
This represents an increase of 20.05% over the value; ₦31,683.75 billion recorded in the corresponding period of 2024 and an increase by 5.59% compared to the value recorded in the preceding quarter (₦36,024.66 billion).
NBS, in its Foreign Trade Statistics Report for Q2, 2025 revealed that exports accounted for 59.81% of total trade with a value of ₦22,750.74 billion, showing an increase of 28.43% over the value recorded in the corresponding quarter of 2024 (₦17,714.41 billion) and by 10.45% compared to the value recorded in Q1, 2025 (₦20,598.48 billion).
Analysis shows that crude oil remained Nigeria’s major exported commodity in the second quarter of 2025 with a value of ₦11,965.98 billion representing 52.60% of total exports.
A further breakdown reveals that the value of non-crude oil exports stood at ₦10,784.76 billion accounting for 47.40% of total exports; of which non-oil products contributed ₦3,045.55 billion or 13.39% of total exports.
On the other hand, imports accounted for 40.19% of total trade in the second quarter of 2025, with a value of ₦15,286.78 billion representing a 9.43% increase compared to ₦13,969.34 billion recorded in Q2 2024, and 0.90% decrease from ₦15,426.17 billion recorded in Q1 2025.
The merchandise trade balance for Q2 2025 remained positive at ₦7,463.96 billion, indicating an increase of 44.31% compared to the value recorded in the preceding quarter.
