Nigeria’s maritime trade has shown a remarkable deviation from other modes of foreign trade transport, with goods exported via maritime transport exceeding imports by 39.76% in 2024.
According to the National Bureau of Statistics (NBS), the value of goods exported through maritime transport in 2024 reached N78.37 trillion, surpassing the value of goods imported by sea vessels, which stood at N52.37 trillion. This trend is consistent with the previous year’s data, which showed maritime exports valued at N36.22 trillion, exceeding maritime imports of N32.19 trillion by 11.78%.
Nigeria’s overall trade balance in 2024 was N20.8tn, with exports valued at N79.11tn and imports at N58.31tn.
However, the country still recorded a higher percentage of import value compared to export value in the air and road transport categories.
In 2024, air cargo imports exceeded exports by 167.85%, with exports valued at N3.68tn and imports at N321.6bn. This trend was also observed in 2023, with air imports exceeding air exports by 167.90%.
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