Nigeria’s top 10 international trading partners in 2024 – Business Insider Africa

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Nigeria recorded an impressive rise in its foreign trade value in 2024, reaching a total of ₦138.03 trillion, marking a 106.56% increase compared to ₦66.83 trillion in 2023, according to the National Bureau of Statistics (NBS).
The sharp growth was underpinned by a robust export performance and favourable trade balances with several global partners.
In 2024, Nigeria posted a significant trade surplus of ₦16.85 trillion. Total exports stood at ₦77.44 trillion, comfortably exceeding imports of ₦60.59 trillion. The country’s top ten trading partners accounted for ₦89.47 trillion in trade, representing 64.81% of Nigeria’s overall foreign trade.
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Europe emerged as Nigeria’s largest regional trade partner with a value of ₦56.94 trillion, followed closely by Asia at ₦49.76 trillion. Trade with the Americas totalled ₦19.70 trillion, primarily fuelled by exports of oil and agricultural goods to the United States and Canada.
Below is a detailed breakdown of Nigeria’s ten leading trading partners, highlighting export and import figures, trade balance, and key goods traded:
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With Africa becoming a stronger trade hub and strategic investments increasing in local industries, Nigeria is expected to maintain its trade growth trajectory. Addressing import dependency and enhancing value-added exports will be key focus areas going forward.
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