Nigeria’s total imports in Q2 2024 stood at N12,47 trillion, a 10.71% decrease from Q1 2024 and a 97.93% rise from Q2 2023. China remains the highest trading partner on imports, followed by Belgium, India, the United States, and the Netherlands.
The total merchandise trade in Q2 2024 was N31,892.46 billion, a 3.76% decrease from Q1 2024 and a 150.39% rise from Q2 2023. Exports accounted for 60.89% of total trade, with a value of N19,418.93 billion, a 1.31% increase from Q1 2024 and a 201.76% rise from Q2 2023.
Crude oil exports dominated the exports trade, valued at N14,559.56 billion, representing 74.98% of total exports. Non-crude oil exports stood at N4,859.37 billion, accounting for 25.02% of total exports.
The report highlights the performance of various sectors, including solid minerals, manufactured goods, and agricultural goods, providing insights into Nigeria’s trade patterns and trends.
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