Balance of Trade In Goods and Services (Local Currency) fell 1745% to NGN -2,345 bil in Nigeria in 2016

Balance of Trade In Goods and Services (Local Currency) (NGN bil)
Economy | Nigeria | May 18, 2019
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Balance of trade in goods and services reached -2,345 NGN bil in 2016 in Nigeria, according to the National Statistical Office. This is 1745 % more than in the previous year.

Historically, balance of trade in goods and services in Nigeria reached an all time high of 13,429 NGN bil in 2012 and an all time low of -2,345 NGN bil in 2016. When compared to Nigeria's main peers, balance of trade in goods and services in Benin amounted to -581 XOF bil, -914 XAF bil in Cameroon, -641 XAF bil in Chad and -641 XOF bil in Niger in 2016.

Nigeria has been ranked 156th within the group of 170 countries we follow in terms of balance of trade in goods and services, 148 places behind the position seen 10 years ago.

The external balance of trade in goods and services (formerly the resource balance) equals exports of goods and services minus imports of goods and services (previously non-factor services).

Balance of Trade In Goods and Services (Local Currency) Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017
Algeria DZD bil 1,474 1,358 468 -294 -2,231
Benin XOF bil -303 -363 -424 -552 -486
Burkina Faso XOF bil -412 -664 -329 -129 -126
Cameroon XAF bil -702 -617 -714 -896 -978
Central African Republic XAF bil -109 -112 -79.2 -207 -206
Chad XAF bil -168 -230 -353 -572 -425
Gabon XAF bil 2,831 2,591 2,093 1,395 1,540
Libya LYD bil 4.26 36.0 4.67 -23.5 -13.2
Mali XOF bil -518 -310 -981 -1,101 -1,205
Niger XOF bil -813 -620 -623 -743 -964
Nigeria NGN bil 6,286 13,429 4,092 5,395 -127
Sudan SDG bil 3.63 -15.3 -20.7 -14.9 -16.0
Togo XOF bil -299 -273 -395 -408 -614