{
  "id": "goods-trade",
  "title": "Nigeria’s goods trade",
  "series": "goods-trade",
  "period": "Q3 2025–Q2 2026",
  "published": "2026-10-08",
  "reviewed": "2026-10-08",
  "summary": "Quarterly exports, imports and trade balance, with product breakdowns for the quarters we have reviewed.",
  "image": "/reports/trade-four-quarters.png",
  "alt": "Nigeria goods trade, latest four available quarters. Each entry: NGN tn (USD bn), QoQ change. Q3 2025: exports 22.81 (16.80), +0.28%; imports 16.96 (12.49), +2.81%; surplus 5.86 (4.31), -6.42%. Q4 2025: exports 18.96 (13.96), -16.88%; imports 17.25 (12.70), +1.73%; surplus 1.71 (1.26), -70.76%. Q1 2026: exports 21.17 (15.59), +11.63%; imports 13.62 (10.03), -21.05%; surplus 7.55 (5.56), +340.88%. Q2 2026: exports 27.02 (19.90), +27.64%; imports 14.42 (10.62), +5.91%; surplus 12.60 (9.28), +66.85%. Surplus = exports less imports. Bars share a NGN0–30tn scale. QoQ uses the preceding quarter, including Q2 2025 for the first column. Nominal values; rounding applies. Source: NBS Q2 2026 Foreign Trade in Goods Statistics, Table 1 (PDF p.30; XLSX rows34–37), released Sept 2026. USD at NGN1,358.06/$, Wise US-to-Nigeria quote, 8 Oct 2026, before fees; illustrative current-rate conversions, not historical USD values.",
  "columns": [
    "Quarter",
    "Exports ₦tn",
    "Imports ₦tn",
    "Surplus ₦tn",
    "Exports QoQ",
    "Imports QoQ",
    "Surplus QoQ"
  ],
  "rows": [
    [
      "Q3 2025",
      "22.81",
      "16.96",
      "5.86",
      "+0.28%",
      "+2.81%",
      "-6.42%"
    ],
    [
      "Q4 2025",
      "18.96",
      "17.25",
      "1.71",
      "-16.88%",
      "+1.73%",
      "-70.76%"
    ],
    [
      "Q1 2026",
      "21.17",
      "13.62",
      "7.55",
      "+11.63%",
      "-21.05%",
      "+340.88%"
    ],
    [
      "Q2 2026",
      "27.02",
      "14.42",
      "12.60",
      "+27.64%",
      "+5.91%",
      "+66.85%"
    ]
  ],
  "data": {
    "quarters": [
      {
        "period": "Q3 2025",
        "exports_bn": 22813.57,
        "exports_qoq_pct": 0.28,
        "imports_bn": 16957.9,
        "imports_qoq_pct": 2.81,
        "balance_bn": 5855.67,
        "balance_qoq_pct": -6.42
      },
      {
        "period": "Q4 2025",
        "exports_bn": 18963.41,
        "exports_qoq_pct": -16.88,
        "imports_bn": 17250.93,
        "imports_qoq_pct": 1.73,
        "balance_bn": 1712.48,
        "balance_qoq_pct": -70.76
      },
      {
        "period": "Q1 2026",
        "exports_bn": 21169.27,
        "exports_qoq_pct": 11.63,
        "imports_bn": 13619.33,
        "imports_qoq_pct": -21.05,
        "balance_bn": 7549.94,
        "balance_qoq_pct": 340.88
      },
      {
        "period": "Q2 2026",
        "exports_bn": 27020.88,
        "exports_qoq_pct": 27.64,
        "imports_bn": 14424.01,
        "imports_qoq_pct": 5.91,
        "balance_bn": 12596.86,
        "balance_qoq_pct": 66.85
      }
    ],
    "source_note": "NBS Q2 2026 release, TABLE 1 rows 34–37; Q2 2025 row33 for first QoQ. All quarters use latest available Q2 2026 vintage. Nominal NGN billion; values and QoQ rounded independently from unrounded source NGN million. Rounded exports less rounded imports may differ from rounded balance by NGN0.01bn.",
    "source_url": "https://microdata.nigerianstat.gov.ng/index.php/catalog/84/download/1434/Q2_2026_FTS.zip"
  },
  "sources": [
    {
      "title": "NBS Q2 2026 Foreign Trade in Goods Statistics",
      "url": "https://microdata.nigerianstat.gov.ng/index.php/catalog/84/download/1434/Q2_2026_FTS.zip",
      "locator": "Table 1, PDF p. 30; workbook rows 33–37."
    },
    {
      "title": "Wise · US-to-Nigeria exchange-rate quote, 8 October 2026",
      "url": "https://wise.com/us/send-money/send-money-to-nigeria"
    }
  ],
  "notes": [
    "USD equivalents use ₦1,358.06 per US$1, Wise US-to-Nigeria quote checked 8 October 2026, before fees. These are illustrative current-rate conversions, not historical dollar values.",
    "QoQ means change from the preceding quarter. Q2 2025 supplies the baseline for the first column. All periods use the Q2 2026 source vintage. Surplus is exports less imports, calculated before rounding.",
    "Q3 2025 was added as historical context after the series began with Q4 2025."
  ],
  "post": "https://x.com/Statistones/status/2108130961539875134",
  "sequence": 4,
  "product_breakdowns": [
    {
      "id": "trade-q4-2025",
      "title": "Goods trade · Q4 2025",
      "series": "goods-trade",
      "period": "Q4 2025",
      "published": "2026-10-08",
      "reviewed": "2026-10-08",
      "summary": "Top three export and import products, with all other goods grouped together.",
      "image": "/reports/trade-q4-2025.png",
      "alt": "Nigeria goods trade, Q4 2025. All values in billions; USD equivalents in brackets. Total exports: NGN18,963.41 (USD13.96); imports: NGN17,250.93 (USD12.70). Exports: crude oil 9,702.87 (7.14), 51.17%; natural gas 2,013.00 (1.48), 10.62%; kerosene-type jet fuel 1,160.23 (0.85), 6.12%; others 6,087.31 (4.48), 32.10%. Imports: petrol 3,540.21 (2.61), 20.52%; durum wheat excluding seed 550.91 (0.41), 3.19%; crude oil 499.75 (0.37), 2.90%; others 12,660.06 (9.32), 73.39%. Petrol means motor spirit ordinary. Bars use the same 0–100% scale. Others equals total less top three; rounding applies. Source: NBS Q4 2025 Foreign Trade in Goods Statistics, pp. 3–4, 10, released March 2026. USD calculated at Wise US-to-Nigeria quote of NGN1,358.06/USD on 8 Oct 2026, before fees. Illustrative current-rate conversion, not historical USD trade values or an institutional execution quote.",
      "columns": [
        "Category",
        "NGN bn",
        "USD bn",
        "Share %"
      ],
      "rows": [
        [
          "Exports total",
          "18,963.41",
          "13.96",
          "100.00"
        ],
        [
          "Exports: Crude oil",
          "9,702.87",
          "7.14",
          "51.17"
        ],
        [
          "Exports: Natural gas",
          "2,013.00",
          "1.48",
          "10.62"
        ],
        [
          "Exports: Kerosene-type jet fuel",
          "1,160.23",
          "0.85",
          "6.12"
        ],
        [
          "Exports: Other exports",
          "6,087.31",
          "4.48",
          "32.10"
        ],
        [
          "Imports total",
          "17,250.93",
          "12.70",
          "100.00"
        ],
        [
          "Imports: Petrol (motor spirit ordinary)",
          "3,540.21",
          "2.61",
          "20.52"
        ],
        [
          "Imports: Durum wheat (not seed)",
          "550.91",
          "0.41",
          "3.19"
        ],
        [
          "Imports: Crude oil",
          "499.75",
          "0.37",
          "2.90"
        ],
        [
          "Imports: Other imports",
          "12,660.06",
          "9.32",
          "73.39"
        ]
      ],
      "data": {
        "exports": [
          [
            "Crude oil",
            9702.87,
            51.17
          ],
          [
            "Natural gas",
            2013,
            10.62
          ],
          [
            "Kerosene-type jet fuel",
            1160.23,
            6.12
          ],
          [
            "Other exports",
            6087.31,
            32.1
          ]
        ],
        "imports": [
          [
            "Petrol (motor spirit ordinary)",
            3540.21,
            20.52
          ],
          [
            "Durum wheat (not seed)",
            550.91,
            3.19
          ],
          [
            "Crude oil",
            499.75,
            2.9
          ],
          [
            "Other imports",
            12660.06,
            73.39
          ]
        ],
        "period": "Q4 2025",
        "totals": {
          "exports": 18963.41,
          "imports": 17250.93
        }
      },
      "sources": [
        {
          "title": "NBS Foreign Trade in Goods Statistics · Q4 2025",
          "url": "https://microdata.nigerianstat.gov.ng/index.php/catalog/84/download/1368/Q4_2025_Foreign_Trade_in_Goods_Statistics_Report.zip",
          "locator": "Report totals and product ranking; accompanying workbook."
        },
        {
          "title": "Wise · US-to-Nigeria exchange-rate quote, 8 October 2026",
          "url": "https://wise.com/us/send-money/send-money-to-nigeria"
        }
      ],
      "notes": [
        "USD equivalents use ₦1,358.06 per US$1, Wise US-to-Nigeria quote checked 8 October 2026, before fees. These are illustrative current-rate conversions, not historical dollar values.",
        "Others equals the total less the top three. Nominal naira values; rounding applies. Durum wheat excludes seed; urea includes aqueous solutions.",
        "The first publication in this series. The website uses the corrected white-background graphic for readability."
      ],
      "post": "https://x.com/Statistones/status/2108127474357866639",
      "sequence": 1
    },
    {
      "id": "trade-q1-2026",
      "title": "Goods trade · Q1 2026",
      "series": "goods-trade",
      "period": "Q1 2026",
      "published": "2026-10-08",
      "reviewed": "2026-10-08",
      "summary": "Top three export and import products, with all other goods grouped together.",
      "image": "/reports/trade-q1-2026.png",
      "alt": "Q1 2026, Nigeria goods trade. Values NGN billions, USD billions in parentheses. Total exports 21,169.27 (15.59); imports 13,619.33 (10.03). Exports: Crude oil 11,202.35 (8.25), 52.92%; Natural gas 2,008.95 (1.48), 9.49%; Urea 1,374.73 (1.01), 6.49%; Other goods 6,583.24 (4.85), 31.10%. Imports: Crude oil 1,907.03 (1.40), 14.00%; Gas oil (diesel) 364.42 (0.27), 2.68%; Durum wheat (not seed) 340.07 (0.25), 2.50%; Other goods 11,007.81 (8.11), 80.82%. Bars share a 0–100% scale. Others = total less top three; rounding applies. Urea includes aqueous solution. Source: NBS Q1 2026 Foreign Trade in Goods Statistics, PDF pp.3–7,10; accompanying XLSX PRODUCT RANKING. Released June 2026. USD: ₦1,358.06/$, Wise US-to-Nigeria, 8 Oct 2026, before fees; illustrative current-rate conversion, not historical USD trade values.",
      "columns": [
        "Category",
        "NGN bn",
        "USD bn",
        "Share %"
      ],
      "rows": [
        [
          "Exports total",
          "21,169.27",
          "15.59",
          "100.00"
        ],
        [
          "Exports: Crude oil",
          "11,202.35",
          "8.25",
          "52.92"
        ],
        [
          "Exports: Natural gas",
          "2,008.95",
          "1.48",
          "9.49"
        ],
        [
          "Exports: Urea",
          "1,374.73",
          "1.01",
          "6.49"
        ],
        [
          "Exports: Other goods",
          "6,583.24",
          "4.85",
          "31.10"
        ],
        [
          "Imports total",
          "13,619.33",
          "10.03",
          "100.00"
        ],
        [
          "Imports: Crude oil",
          "1,907.03",
          "1.40",
          "14.00"
        ],
        [
          "Imports: Gas oil (diesel)",
          "364.42",
          "0.27",
          "2.68"
        ],
        [
          "Imports: Durum wheat (not seed)",
          "340.07",
          "0.25",
          "2.50"
        ],
        [
          "Imports: Other goods",
          "11,007.81",
          "8.11",
          "80.82"
        ]
      ],
      "data": {
        "period": "Q1 2026",
        "released": "June 2026",
        "totals": {
          "imports": 13619.33,
          "exports": 21169.27
        },
        "source_url": "https://microdata.nigerianstat.gov.ng/index.php/catalog/84/download/1418/Q1_2026_FTS.zip",
        "pages": "PDF p.10 (products); pp.3–7 (totals); XLSX PRODUCT RANKING rows 5–7 and TABLE 1 row 36",
        "imports": [
          [
            "Crude oil",
            1907.03,
            14
          ],
          [
            "Gas oil (diesel)",
            364.42,
            2.68
          ],
          [
            "Durum wheat (not seed)",
            340.07,
            2.5
          ],
          [
            "Other goods",
            11007.81,
            80.82
          ]
        ],
        "exports": [
          [
            "Crude oil",
            11202.35,
            52.92
          ],
          [
            "Natural gas",
            2008.95,
            9.49
          ],
          [
            "Urea¹",
            1374.73,
            6.49
          ],
          [
            "Other goods",
            6583.24,
            31.1
          ]
        ]
      },
      "sources": [
        {
          "title": "NBS Foreign Trade in Goods Statistics · Q1 2026",
          "url": "https://microdata.nigerianstat.gov.ng/index.php/catalog/84/download/1418/Q1_2026_FTS.zip",
          "locator": "Report totals and product ranking; accompanying workbook."
        },
        {
          "title": "Wise · US-to-Nigeria exchange-rate quote, 8 October 2026",
          "url": "https://wise.com/us/send-money/send-money-to-nigeria"
        }
      ],
      "notes": [
        "USD equivalents use ₦1,358.06 per US$1, Wise US-to-Nigeria quote checked 8 October 2026, before fees. These are illustrative current-rate conversions, not historical dollar values.",
        "Others equals the total less the top three. Nominal naira values; rounding applies. Durum wheat excludes seed; urea includes aqueous solutions."
      ],
      "post": "https://x.com/Statistones/status/2108129207331012768",
      "sequence": 2
    },
    {
      "id": "trade-q2-2026",
      "title": "Goods trade · Q2 2026",
      "series": "goods-trade",
      "period": "Q2 2026",
      "published": "2026-10-08",
      "reviewed": "2026-10-08",
      "summary": "Top three export and import products, with all other goods grouped together.",
      "image": "/reports/trade-q2-2026.png",
      "alt": "Q2 2026, Nigeria goods trade. Values NGN billions, USD billions in parentheses. Total exports 27,020.88 (19.90); imports 14,424.01 (10.62). Exports: Crude oil 12,914.33 (9.51), 47.79%; Kerosene-type jet fuel 2,935.07 (2.16), 10.86%; Natural gas 2,819.59 (2.08), 10.43%; Other goods 8,351.89 (6.15), 30.91%. Imports: Petrol (motor spirit ordinary) 952.15 (0.70), 6.60%; Crude oil 786.73 (0.58), 5.45%; Durum wheat (not seed) 404.70 (0.30), 2.81%; Other goods 12,280.43 (9.04), 85.14%. Bars share a 0–100% scale. Others = total less top three; rounding applies. Source: NBS Q2 2026 Foreign Trade in Goods Statistics, PDF pp.3–7,10; accompanying XLSX PRODUCT RANKING. Released September 2026. USD: ₦1,358.06/$, Wise US-to-Nigeria, 8 Oct 2026, before fees; illustrative current-rate conversion, not historical USD trade values.",
      "columns": [
        "Category",
        "NGN bn",
        "USD bn",
        "Share %"
      ],
      "rows": [
        [
          "Exports total",
          "27,020.88",
          "19.90",
          "100.00"
        ],
        [
          "Exports: Crude oil",
          "12,914.33",
          "9.51",
          "47.79"
        ],
        [
          "Exports: Kerosene-type jet fuel",
          "2,935.07",
          "2.16",
          "10.86"
        ],
        [
          "Exports: Natural gas",
          "2,819.59",
          "2.08",
          "10.43"
        ],
        [
          "Exports: Other goods",
          "8,351.89",
          "6.15",
          "30.91"
        ],
        [
          "Imports total",
          "14,424.01",
          "10.62",
          "100.00"
        ],
        [
          "Imports: Petrol (motor spirit ordinary)",
          "952.15",
          "0.70",
          "6.60"
        ],
        [
          "Imports: Crude oil",
          "786.73",
          "0.58",
          "5.45"
        ],
        [
          "Imports: Durum wheat (not seed)",
          "404.70",
          "0.30",
          "2.81"
        ],
        [
          "Imports: Other goods",
          "12,280.43",
          "9.04",
          "85.14"
        ]
      ],
      "data": {
        "period": "Q2 2026",
        "released": "September 2026",
        "totals": {
          "imports": 14424.01,
          "exports": 27020.88
        },
        "source_url": "https://microdata.nigerianstat.gov.ng/index.php/catalog/84/download/1434/Q2_2026_FTS.zip",
        "pages": "PDF p.10 (products); pp.3–7 (totals); XLSX PRODUCT RANKING rows 5–7 and TABLE 1 row 37",
        "imports": [
          [
            "Petrol (motor spirit ordinary)",
            952.15,
            6.6
          ],
          [
            "Crude oil",
            786.73,
            5.45
          ],
          [
            "Durum wheat (not seed)",
            404.7,
            2.81
          ],
          [
            "Other goods",
            12280.43,
            85.14
          ]
        ],
        "exports": [
          [
            "Crude oil",
            12914.33,
            47.79
          ],
          [
            "Kerosene-type jet fuel",
            2935.07,
            10.86
          ],
          [
            "Natural gas",
            2819.59,
            10.43
          ],
          [
            "Other goods",
            8351.89,
            30.91
          ]
        ]
      },
      "sources": [
        {
          "title": "NBS Foreign Trade in Goods Statistics · Q2 2026",
          "url": "https://microdata.nigerianstat.gov.ng/index.php/catalog/84/download/1434/Q2_2026_FTS.zip",
          "locator": "Report totals and product ranking; accompanying workbook."
        },
        {
          "title": "Wise · US-to-Nigeria exchange-rate quote, 8 October 2026",
          "url": "https://wise.com/us/send-money/send-money-to-nigeria"
        }
      ],
      "notes": [
        "USD equivalents use ₦1,358.06 per US$1, Wise US-to-Nigeria quote checked 8 October 2026, before fees. These are illustrative current-rate conversions, not historical dollar values.",
        "Others equals the total less the top three. Nominal naira values; rounding applies. Durum wheat excludes seed; urea includes aqueous solutions."
      ],
      "post": "https://x.com/Statistones/status/2108129440454607057",
      "sequence": 3
    }
  ]
}