Nigeria posts trade surplus of N6.95tn in Q2 2024

• Published On: 11 September 2024 at 17:51

Nigeria recorded a trade surplus of N6.95 trillion in the second quarter of 2024, indicating strong export performance despite a slight decline in overall merchandise trade.

This surplus is a 6.60% increase over the N6.52 trillion surplus recorded in the previous quarter.

According to a National Bureau of Statistics report released on Wednesday, Nigeria's total merchandise trade in Q2 2024 was N31.89 trillion.

This figure shows a 3.76% decrease from the first quarter of 2024, but a significant 150.39% increase over the same period in 2023.

The report also notes a decrease in the country's import activity during the period.