Federal finance and statistics / National Bureau of Statistics

Foreign Trade in Goods Statistics (Q1 2023)

Key Highlights NIGERIA TOTAL MERCHANDISE TRADE IMPROVED SLIGHTLY IN Q1, 2023 DUE TO A MARGINAL INCREASE IN IMPORT AND EXPORT TRADE RESULTING IN A POSITIVE TRADE BALANCE In the first quarter of 2023, Nigeria's total trade stood at N12,046.92 billion of which total exports stood at N6,487.04 billion and total imports amounted to N5,559.88 billion. Total exports increased in the first quarter by 2.00% but declined by 8.66% when compared to the amount recorded in the fourth quarter of 2022 (N6,359.61billion) and the corresponding quarter in 2022 (N7,102.11 billion) respectively. In the same vein, …