Nigeria recorded an impressive trade surplus of ₦1.74 trillion in June 2023
In June 2023, Nigeria exported goods worth ₦3.026 trillion and imported goods worth ₦1.285 trillion, resulting in a trade surplus of ₦1.74 trillion. This came after a trade deficit of ₦653 billion in May 2023. Here is Nigeria's trade balance since July 2022.
Gems and precious metals were the largest single export category, contributing $20.6 billion.
Ores and industrial minerals followed closely with $17.2 billion, showing the country’s reliance on mining.
Vehicles and machinery were significant non-mineral exports, with a combined $18.3 billion.
Agricultural and light industry products like fruits, nuts, and beverages contributed modestly, strengthening mining and manufacturing’s position as the core export drivers.
