Nigeria Trade Balance
Nigeria Trade Balance recorded a deficit of 2.2 USD bn in Sep 2020, compared with a deficit of 2.3 USD bn in the previous month. Nigeria Trade Balance data is updated monthly, available from Jan 2003 to Sep 2020, with an averaged value of 1.9 USD bn. The data reached an all-time high of 14.4 USD bn in Oct 2011 and a record low of -3.9 USD bn in Mar 2011. CEIC converts monthly Trade Balance into USD. The National Bureau of Statistics of the Federal Republic of Nigeria provides Trade Balance in local currency. The Central Bank of Nigeria average market exchange rate is used for currency conversions.
In the latest reports, Nigeria Total Exports reached 2.9 USD bn in Sep 2020, a decrease of 51.7 % year on year. Total Imports recorded 3.4 USD bn in Sep 2020, a decrease of 7.0 % year on year.
View Nigeria's Trade Balance from Jan 2003 to Sep 2020 in the chart:
What was Nigeria's Trade Balance in Sep 2020?
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| -2,187.3 Sep 2020 | -2,256.4 Aug 2020 | -3,934.8 Mar 2011 | 14,402.0 Oct 2011 | USD mn | monthly | Jan 2003 - Sep 2020 |
Trade Balance by Country Comparison
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| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (USD mn) | -376.8 Dec 2020 | monthly | Oct 1998 - Dec 2020 |
| Algeria (USD mn) | -791.7 Jan 2020 | monthly | Jan 2000 - Jan 2020 |
| Argentina (USD mn) | 141.2 Nov 2020 | monthly | Jan 1991 - Nov 2020 |
| Armenia (USD mn) | -197.4 Nov 2020 | monthly | Nov 1995 - Nov 2020 |
| Australia (USD mn) | 3,651.0 Nov 2020 | monthly | Jul 1971 - Nov 2020 |
| Austria (USD mn) | -377.4 Oct 2020 | monthly | Jan 1957 - Oct 2020 |
| Azerbaijan (USD mn) | -91.6 Nov 2020 | monthly | Jan 2000 - Nov 2020 |
| Bahrain (USD mn) | 856.2 2019 | yearly | 1966 - 2019 |
| Bangladesh (USD mn) | -915.4 Oct 2020 | monthly | Jul 1986 - Oct 2020 |
| Belarus (USD mn) | 309.3 Oct 2020 | monthly | Jan 2000 - Oct 2020 |
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| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | -3.2 Mar 2020 | quarterly | Dec 2010 - Mar 2020 |
| Consolidated Fiscal Balance (USD mn) | -4,673.639 Mar 2020 | quarterly | Mar 2005 - Mar 2020 |
| National Government Debt (USD mn) | 73,740.7 Sep 2020 | quarterly | Dec 2006 - Sep 2020 |
| Government Debt: % of GDP (%) | 18.2 Jun 2020 | quarterly | Dec 2010 - Jun 2020 |
| Forecast: Government Expenditure (NGN bn) | 34,920.128 2025 | yearly | 1990 - 2025 |
| Forecast: Government Net Debt (NGN bn) | 109,473.696 2025 | yearly | 1990 - 2025 |
| Forecast: Government Revenue (NGN bn) | 21,509.034 2025 | yearly | 1990 - 2025 |
| Gross Federation Account Revenue (NGN bn) | 2,268.700 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Federal Govt Balance (NGN bn) | -1,289.030 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Gross Federation Account Revenue: Oil (NGN bn) | 953.900 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Federal Govt Revenue (NGN bn) | 842.090 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Federal Govt Expenditure (NGN bn) | 2,131.120 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Federal Govt Expenditure: Recurrent (NGN bn) | 1,650.430 Sep 2020 | quarterly | Mar 2005 - Sep 2020 |
| Government Debt: Domestic (NGN bn) | 15,846.231 Sep 2020 | quarterly | Dec 2005 - Sep 2020 |
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