The latest figures released by the National Bureau of Statistics (NBS) The National Bureau of Statistics (NBS) report shows that the country recorded a positive trade balance of N6.52 trillion for the sixth straight quarter in Q1, a 79.1 per cent increase from N3.64 trillion in the previous quarter. It also jumped from N20.9 billion on a year-on-year basis.
A trade surplus, an economic measure of a positive trade balance, occurs when a country’s exports exceed its imports.
Total merchandise trade in Africa’s most populous nation stood at N31.8 trillion in Q1, an increase of 46.3 percent over the value recorded in the preceding quarter and rose by 145.6 percent compared to the value recorded in the corresponding period of 2023.
