Nigeria’ has recorded a total of ₦38,936.55 billion in merchandise trade in Q3, 2025, representing an increase of 8.71% over the value; ₦35,818.35 billion recorded in the corresponding period of 2024 and an increase by 2.36% compared to the value recorded in the preceding quarter (₦38,037.52 billion).
The statistics was revealed by National Bureau of Statistics (NBS) on Thursday in its latest report on the country’s standing in foreign trade position.
“Nigeria’s total merchandise trade stood at ₦38,936.55 billion in Q3, 2025. This represents an increase of 8.71% over the value; ₦35,818.35 billion recorded in the corresponding period of 2024 and an increase by 2.36% compared to the value recorded in the preceding quarter (₦38,037.52 billion),” NBS stated.
In the quarter under review, exports accounted for 58.59% of total trade with a value of ₦22,813.57 billion, showing an increase of 11.08% over the value recorded in the corresponding quarter of 2024 (₦20,537.17 billion) and by 0.28% compared to the value recorded in Q2, 2025 (₦22,750.74 billion).
Analysis shows that crude oil remained Nigeria’s major exported commodity in the third quarter of 2025 with a value of ₦12,806.78 billion representing 56.14% of total exports. A further breakdown reveals that the value of non-crude oil exports stood at ₦10,006.79 billion accounting for 43.86% of total exports; of which non-oil products contributed ₦2,996.62 billion or 13.14% of total exports.
On the other hand, imports accounted for 41.41% of total trade in the third quarter of 2025, with a value of ₦16,122.98 billion representing a 5.51% increase compared to ₦15,281.18 billion recorded in Q3 2024, and 5.47% increase from ₦15,286.78 billion recorded in Q2 2025. The merchandise trade balance for Q3 2025 remained positive at ₦6,690.59 billion, indicating a decrease of 10.36% compared to the value recorded in the preceding quarter.
