Nigeria recorded N17.78 trillion trade surplus in 2025 but ran its largest deficit with China

Nigeria recorded a trade surplus of N17.78 trillion, as exports worth N85.13 trillion exceeded imports of N67.35 trillion.

The country’s total foreign trade reached N152.47 trillion in 2025, rising from N138.03 trillion in 2024, according to data from the National Bureau of Statistics (NBS).

Oil remained Nigeria’s biggest export. Crude oil exports were valued at N47.43 trillion, accounting for 55.72% share of export earnings.

Non-crude oil exports totalled N37.70 trillion, including N12.36 trillion from non-oil products such as agricultural and manufactured goods.

Nigeria has consistently recorded annual trade surpluses since 2022, as exports continue to outpace imports, showing strong external demand for Nigerian goods in the international market

Below is a breakdown of Nigeria’s top ten trade partners in terms of imports and exports in 2025

Africa is presented as a combined group rather than individual countries. Therefore, it is reported as a single regional category, consistent with the way the data is presented by the National Bureau of Statistics.

Brazil – N4.15 trillion

Nigeria’s trade with Brazil totaled N4.15 trillion. Imports from Brazil were N2.15 trillion, while exports stood at N2.00 trillion, creating a trade deficit of N144.74 billion.

Canada – N4.76 trillion

Trade with Canada reached N4.76 trillion. Nigeria exported N4.31 trillion worth of goods and imported N452.58 billion, giving Nigeria a large trade surplus of N3.85 trillion.

Italy – N5.59 trillion

Total trade with Italy was N5.59 trillion. Exports were N3.76 trillion, while imports stood at N1.83 trillion, leaving Nigeria with a trade surplus of N1.93 trillion.

France – N6.98 trillion

Nigeria’s trade with France reached N6.98 trillion. Exports were N6.09 trillion, while imports totaled N895.80 billion, creating a surplus of N5.19 trillion.

Spain – N8.50 trillion

Trade with Spain stood at N8.50 trillion. Nigeria exported N7.45 trillion worth of goods and imported N1.05 trillion, producing a trade surplus of N6.40 trillion.

Netherlands – N10.72 trillion

Nigeria’s trade with the Netherlands totalled N10.72 trillion. Exports reached N7.37 trillion, while imports stood at N3.35 trillion, creating a trade surplus of N4.02 trillion.

United States – N12.99 trillion

Trade between Nigeria and the United States reached N12.99 trillion in 2025. Nigeria exported N4.54 trillion worth of goods, while imports surged to N8.45 trillion up from N4.07 trillion in 2024, representing a 107.66% increase. The result was a trade deficit of N3.91 trillion, reflecting a significant rise in Nigerian demand for U.S. products.

India – N15.50 trillion

Trade with India reached N15.50 trillion. Nigeria exported N8.91 trillion and imported N6.59 trillion, giving the country a trade surplus of N2.32 trillion.

Africa (All African countries combined) – N15.99 trillion

Nigeria’s total trade with African countries stood at N15.99 trillion. Exports to the continent were valued at N13.14 trillion, while imports totaled N2.86 trillion, producing a large trade surplus of N10.28 trillion.

This strong surplus shows that Nigeria exports far more goods to African markets than it imports from them.

The figures also show how important intra-African trade is becoming. Trade within the continent has been supported by regional initiatives such as the African Continental Free Trade Area (AfCFTA), which seeks to reduce tariffs and trade barriers across the continent. By improving market access across the continent, the agreement is expected to encourage more cross-border trade and strengthen economic integration among African economies.

Nigeria’s strongest export partners are South Africa, Ivory Coast, Togo, Ghana and Egypt, while the top import partners are Ghana, South Africa, Egypt, Togo and Swaziland.

China – N22.57 trillion

China remained Nigeria’s largest trading partner in 2025, with total trade valued at N22.57 trillion. China alone accounts for about 15% of Nigeria’s total trade.

However, Nigeria runs a large trade deficit with China. The country exported N2.78 trillion worth of goods but imported N19.79 trillion, resulting in a trade deficit of N17.01 trillion.

Major imports include tractors, telecommunications equipment, motorcycles, polyvinyl chloride (PVC), veneer sheets, solar panels, and agricultural planting machines. Exports to China primarily consist of sesame seeds, malt, tin ores, natural rubber, goat leather, and other mineral substances.