Nigeria’s international commerce surged to $172.5 billion in 2024, marking a 106.56% enhance from the earlier 12 months. The nation recorded a commerce surplus of $21.1 billion, with exports totaling $96.9 billion and imports at $75.8 billion. The highest ten buying and selling companions accounted for $112.3 billion, making up 64.81% of whole commerce. Europe led as Nigeria’s major buying and selling area with $71.5 billion, adopted by Asia at $62.4 billion and the Americas with $24.7 billion. China was Nigeria’s largest commerce accomplice, with whole commerce of $14.5 billion, however a big commerce deficit of $7 billion as a consequence of increased imports. India adopted with $11 billion in commerce, attaining a surplus of $3.5 billion. The Netherlands and France ranked subsequent, recording surpluses of $5.8 billion and $6.7 billion, respectively. The US had whole commerce of $6.9 billion, whereas Spain, Canada, Germany, and the UK rounded out the record with various surpluses. These figures spotlight Nigeria’s rising world commerce engagement, notably with European and Asian markets.
Supply: Nairametrics
