Nigeria posts N1.71 trillion trade surplus in Q4 2025 despite falling exports as imports rise steadily.
Nigeria recorded a trade surplus of N1.71 trillion in the fourth quarter of 2025 despite a significant decline in exports, according to the National Bureau of Statistics. Data from the agency’s Q4 2025 Foreign Trade Report shows total merchandise trade stood at N36.21 trillion, slightly lower than N36.60 trillion recorded in Q4 2024 and N39.77 trillion in Q3 2025.
Exports accounted for 52.36% of total trade at N18.96 trillion, while imports rose to N17.25 trillion. Export earnings declined largely due to weaker crude oil performance, which continues to dominate Nigeria’s external trade revenue.
Crude oil exports fell to N9.70 trillion during the quarter, representing a sharp drop compared with previous periods. Meanwhile, China remained Nigeria’s largest import partner, followed by the United States, the Netherlands, India, and Brazil.
Despite declining exports, the country maintained a positive trade balance as export earnings continued to exceed import spending.
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