• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Monday, June 2, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home Business

Nigeria Recorded N3.4trn Trade Surplus In Q4 2024, Says NBS

Ojimaojo Abubakar by Ojimaojo Abubakar
March 8, 2025
in Business
0
Nigeria Recorded N3.4trn Trade Surplus In Q4 2024, Says NBS
0
SHARES
0
VIEWS
FacebookTwitterWhatsappEmailTelegram
The National Bureau of Statistics (NBS) says Nigeria recorded N3.42 trillion trade surplus in the fourth quarter (Q4) of 2024.

The NBS, in its foreign trade report for Q4 2024, said Nigeria’s exports totalled N20.01 trillion while imports stood at N16.59 trillion.

A trade surplus is an economic indicator of a positive trade balance in which the exports of a nation outweigh its imports.

RelatedPosts

10 Stockbroking Firms Trade N2.14trn Worth of Stock in Five Months

Currency in Circulation Hits N5.01trn as Cash Outside Banks Declines

APM Terminals Apapa, GIVO Launch Recycling Hub to Tackle Plastic Waste

The bureau said total trade was N36.6 trillion in Q4, representing an increase of 2.20 percent compared to the N35.8 trillion recorded in the third quarter (Q1) of the year.

“Nigeria’s total merchandise trade stood at N36,604.83 billion in Q4, 2024. This represents an increase of 68.32% compared to the value (N21,747.40) recorded in the corresponding period of 2023 and a rise of 2.20% over the value recorded in the preceding quarter (N35,818.35),” NBS said.

“In the quarter under review, exports accounted for 54.68% of total trade with a value of N20,014.33 billion, showing an increase of 57.67% rise over the value recorded in the fourth quarter of 2023 (N12,693.62) and a decrease of 2.55% compared to the value recorded in Q3 2024 (N20,537.17).”

NBS further said crude oil continued to dominate exports trade in the quarter reviewed.

The statistics firm said crude oil exports stood at N13.78 trillion, representing 68.87 percent of total exports, while the value of non-crude oil exports stood at N6.23 trillion, accounting for 31.13 percent of total exports.

ALSO READ:  Google Announces Additional 110 Languages Translate

NBS added that non-oil products contributed N2.84 trillion or 4.20 percent of total exports.

The NBS said the Netherlands was Nigeria’s top export destination in Q4, followed by Spain, France, India, and Indonesia.

“The main export destination was The Netherlands with a value of N 2,089.96 billion or 10.44% of total exports, followed by exports to France with N1,909.76 billion or 9.54% of total exports, Spain with N1,737.68 billion or 8.68% of total export,” NBS said.

“India with N1,596.66 billion or 7.98% of total exports, and exports to Indonesia with goods valued at N1,406.77 billion representing 7.03% of total exports.

“These five countries collectively accounted for 43.67% of the value of total exports in Q4, 2024.”

In terms of imports, the bureau said China remained Nigeria’s major trading partner, with 27.80 percent (N4 61 trillion) worth of imported goods.

Others on the top five import routes were India (N1.89 trillion or 11.43 percent), Belgium (N1.38 trillion or 8.35 percent), the United States (N1.05 billion or 6.33 percent), and France ( N501 billion or 3.62 percent).

Tags: NBS
Ojimaojo Abubakar

Ojimaojo Abubakar

Abubakar Ojimaojo is a graduate of Mass Communication, political and football analyst currently work at elanzanews.ng as Editor. He pride himself as skilled wordsmith with a passion for delving into contemporary political issues on both national and international scale.

Related Posts

Market Highlights: ₦63.79 Billion in Trades on the NGX This Week

10 Stockbroking Firms Trade N2.14trn Worth of Stock in Five Months

by Nathaniel Irobi
June 2, 2025
0

A total of 10 stockbroking firms traded N2.14 trillion worth of stocks between January and May of 2025 as the...

2025 Hajj: CBN approves cash-based BTA for pilgrims

Currency in Circulation Hits N5.01trn as Cash Outside Banks Declines

by Nathaniel Irobi
June 2, 2025
0

Currency in circulation (CIC) in Nigeria climbed to N5.015 trillion in April 2025, up marginally from N5.003 trillion in March,...

APM Terminals Apapa, GIVO Launch Recycling Hub to Tackle Plastic Waste

APM Terminals Apapa, GIVO Launch Recycling Hub to Tackle Plastic Waste

by Nathaniel Irobi
June 2, 2025
0

In a strategic move to combat plastic pollution and foster environmental sustainability in Apapa, APM Terminals Apapa, Nigeria’s largest container...

Recommended

Tears As Popular Kaduna Preacher, Rev. Azzaman, Laid To Rest

Tears As Popular Kaduna Preacher, Rev. Azzaman, Laid To Rest

2 days ago
18 Soldiers and 15 Policemen Detained for Arms Trafficking to Terrorists

18 Soldiers and 15 Policemen Detained for Arms Trafficking to Terrorists

5 days ago

Popular News

  • Arewa group hails Tinubu’s inclusive appointments

    NURTW President Hails Tinubu’s Reforms, Urges Greater Support For Transport Sector

    0 shares
    Share 0 Tweet 0
  • Environment Minister’s Scholarship Beneficiary Tops 2025 UTME In Northern Nigeria With 345 Score

    0 shares
    Share 0 Tweet 0
  • NAHCON Officials Grumble in Saudi Arabia Over Unpaid Allowances

    0 shares
    Share 0 Tweet 0
  • Abuja Estate Firm Announces Customer Loyalty Rewards

    0 shares
    Share 0 Tweet 0
  • Group Warns Against Attempt To Pitch Senator Katung Against Tinubu, Gov Uba Sani

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (719)
  • Education (213)
  • Entertainment (307)
  • Health (187)
  • National (2,063)
  • News (7,746)
  • Opinion (283)
  • Politics (1,564)
  • Science (15)
  • Security (403)
  • Sports (414)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform