December 11, (THEWILL) — Nigeria’s total merchandise trade reached ₦38,936.55 billion in the third quarter of 2025, the National Bureau of Statistics (NBS) disclosed Thursday.
According to the data from the Foreign Trade in Goods Statistics for Q3 2025, released on Thursday, the ₦38,936.55 billion marked an 8.71% increase from ₦35,818.35 billion recorded in Q3 2024 and a 2.36% rise from the preceding quarter’s value of ₦38,037.52 billion.
The Data shows that exports remained the driving force behind the growth, accounting for 58.59% of total trade at ₦22,813.57 billion. This reflects an 11.08% increase over Q3 2024’s ₦20,537.17 billion and a marginal 0.28% rise from Q2 2025’s ₦22,750.74 billion.
THEWILL, however, observed that crude oil continued to dominate Nigeria’s export profile, valued at ₦12,806.78 billion, representing 56.14% of total exports. Non-crude oil exports stood at ₦10,006.79 billion, accounting for 43.86% of total exports, with non-oil products contributing ₦2,996.62 billion, or 13.14% of total exports.
Imports during the quarter accounted for 41.41% of total trade, valued at ₦16,122.98 billion. This shows a 5.51% increase from ₦15,281.18 billion in Q3 2024 and a 5.47% rise from Q2 2025’s ₦15,286.78 billion.
The merchandise trade balance for Q3 2025 remained positive at ₦6,690.59 billion, though it recorded a 10.36% decline compared to the previous quarter, highlighting a modest narrowing of Nigeria’s trade surplus.
The data further highlights that the sustained growth in exports, particularly crude oil, continues to bolster Nigeria’s foreign exchange earnings, while the rise in imports underscores the ongoing demand for goods to support domestic consumption and industrial activity.
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