Nigeria Records N5.8trn Trade Surplus In Q324

Nigeria recorded a significant trade surplus of N5.81 trillion in the third quarter of 2024 Q3 2024, according to the National Bureau of Statistics NBS. This marks a 298 year-on-year YoY increase from the N1.3 trillion trade surplus recorded in Q3 2023.

The NBS revealed that the nation's total value of exports in Q3 2024 stood at N20.48 trillion, while imports amounted to N14.67 trillion, resulting in the N5.81 trillion trade surplus. Additionally, the bureau reported that Nigeria's merchandise trade grew by 81 YoY, reaching N35.2 trillion in Q3 2024, compared to N19.38 trillion in Q3 2023.