Nigeria reports Q2 2024 trade surplus of N6.95 trillion ($16.9B), 6.60% increase Q1 with exports led by crude oil.

In Q2 2024, Nigeria reported a trade surplus of N6.95 trillion ($16.9 billion), a 6.60% increase from Q1 and a 150.39% rise from 2023. Total merchandise trade was N31.89 trillion ($78.7 billion), down 3.76% from the previous quarter but up significantly year-over-year. Exports accounted for 60.89% of trade, led by crude oil at N14.56 trillion ($35.3 billion). Key export partners included Spain, the U.S., and France.

September 11, 2024
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