September 19, 2025/Coronation Report

Summary

The National Bureau of Statistics (NBS) released its latest report on foreign trade statistics for Q2 ‘25. Nigeria recorded a trade surplus of ₦7.46tn (about US$4.74bn), its largest in nearly three years, as export growth outpaced import levels.

Total merchandise trade (exports + imports) reached ₦38.04tn (US$24.14bn), up by 20.05% year-on-year and 5.59% quarter-on-quarter in naira terms, and 4.43% y/y and 1.01% q/q in dollar terms. 

Exports rose by 10.45% q/q and 28.43% y/y, to ₦22.75tn (US$14.4bn, 5.66% q/q in USD), while imports declined 0.90% q/q to ₦15.29tn (US$9.70bn, -5.20% q/q in USD) though still 9.43% higher y/y.

 Download the full report here