Nigeria achieved a trade surplus of N6.95 trillion in the second quarter of 2024, reflecting robust export performance despite a slight decline in overall merchandise trade.
This surplus represents a 6.60% increase from the N6.52 trillion surplus recorded in the previous quarter.
According to the National Bureau of Statistics report released on Wednesday, Nigeria’s total merchandise trade in Q2 2024 reached N31.89 trillion.
This figure shows a 3.76% decrease from the first quarter of 2024 but represents a significant 150.39% increase compared to the same period in 2023.
The report also highlights a decline in the country’s import activities during the period.
Details later…
