Federal finance and statistics / National Bureau of Statistics

Foreign Trade in Goods Statistics (Q1 2024)

Overview Nigeria's total merchandise trade stood at N31,810.59 billion in Q1, 2024. This represents an increase of 46.27% over the value recorded in the preceding quarter and rose by 145.58% compared to the value recorded in the corresponding period of 2023. Data revealed that export accounted for 60.25% of total trade in the reviewed quarter with a value of N19,167.36 billion, showing an increase of 51.00% compared to the value recorded in Q4 2023 (N12,693.62) and by 195.47% over the value recorded in the first quarter of 2023 (N6,487.04). Exports trade in the first quarter of 2024 was domina…