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Nigeria's H1 trade: Imports from ECOWAS countries rose from 12% in H1 2021 to a peak of nearly 40% in H1 2024
  • Imports from ECOWAS countries peaked at 39.9% in H1 2024, up from just 12.0% in H1 2021.
  • The share declined to 32.4% in H1 2025, showing a reversal after the 2024 peak.
  • Total import values grew sharply, from ₦209.6B in H1 2020 to ₦1.8T in H1 2025.
  • In H1 2019, ECOWAS already had a decent share of 19.6%, showing long-standing but fluctuating trade ties.

The ECOWAS share of Nigerian exports to African countries nearly doubled, from 34.2% to 62.1%
  • ECOWAS’ share of Nigerian exports rose from 34.2% in H1 2019 to 62.1% in H1 2025.
  • The most significant share came in H1 2022, when ECOWAS accounted for 75.8% of exports.
  • Exports to other African countries dropped significantly in 2022, to just 24.2%.
  • Nigeria’s total exports to Africa grew from ₦0.9T in H1 2022 to ₦4.8T in H1 2025.
  • ECOWAS consistently maintained a majority share from H1 2022 onwards, with a share above 60%.

Nigeria’s exports remain oil-dominated, but non-oil exports are steadily rising—reaching up to 18% in early 2025
  • Oil exports continued to dominate, averaging over 88% of total exports in 2024 and remaining above 81% in the first half of 2025.
  • Non-oil exports rose gradually, from a low of 6.9% (February 2024) to a high of 18.1% (January 2025).
  • Peaks in non-oil export contributions occurred in July 2024 (16.4%) and January–April 2025 (13–18%), indicating progress toward diversification.
  • Total exports remained heavily oil-driven, though sustained double-digit non-oil shares in late 2024 and early 2025 show a slow shift.

After a decline from 13.1% in 2019, the non-oil export share grew by 5.6 percentage points, from 8.7% (2023) to 14.3% (2025)
  • Non-oil exports rose to 14.3% of total exports in 2025, up from 8.7% in 2023.
  • Oil exports still represent 85.7% of total exports in 2025.
  • The non-oil share reached 13.1% in 2019 before dipping and rebounding by 2025.
  • Nigeria’s total exports expanded from ₦9.6 trillion in 2015 to ₦43.3 trillion in H1 2025, showing strong value growth.
  • The lowest non-oil share in the decade occurred in 2016 (4%), reflecting heavy oil dependence.

China dominates Nigeria’s imports while Spain leads as top export destination in Q2 2025
  • China remains Nigeria’s largest import partner, accounting for ₦4.96T or 32.45% of total imports—more than double the U.S.'s share.
  • The United States holds second place in imports, contributing ₦2.16T (14.12%), while India, the Netherlands, and the UAE follow with smaller shares below 6%.
  • Spain tops Nigeria’s export market, receiving ₦2.47T worth of goods, representing 10.85% of total exports.
  • Europe features strongly among export partners, with Spain, France, and the Netherlands together absorbing nearly a quarter of Nigeria’s outbound trade.

Togo emerges as Nigeria’s largest African trading partner in Q2 2025
  • Togo leads on both sides of trade, supplying ₦211.99B in imports and receiving ₦811.97B in exports, making it Nigeria’s strongest African partner by value.
  • South Africa ranks second, with imports of ₦115.15B and exports of ₦473.65B, reflecting deep bilateral trade ties.
  • Côte d’Ivoire also features prominently, sending ₦106.15B worth of goods to Nigeria while importing ₦408.97B, showing balanced engagement.
  • West Africa dominates Nigeria’s intra-African trade, with Togo, Côte d’Ivoire, and Ghana collectively accounting for a significant share of regional exports.

Manufactured goods drove imports as oil products pushed total to ₦15.29 trillion in Q2 2025
  • ₦7.88 trillion worth of manufactured goods made up 51.6% of imports, underscoring Nigeria’s dependence on foreign industrial products.
  • Other petroleum oil products accounted for ₦2.79 trillion (18.2%) of imports, showing continued reliance on external energy supplies despite Nigeria’s oil-rich status.
  • ₦1.72 trillion in raw material imports (11.3%) highlights the gap in local processing capacity.
  • Solid minerals (₦70.9 bn, 0.46%) and energy goods (₦150 mn, almost 0%) show almost no role in imports.

Nigeria’s foreign trade hit ₦38 trillion in Q2 2025, driven by strong export growth
  • Total trade in Q2 2025 was valued at ₦38.04tn.
  • Imports accounted for ₦15.29tn, led by manufactured goods and petroleum products.
  • Exports reached ₦22.75tn, boosted mainly by crude oil.
  • The trade gap favoured Nigeria with a surplus of ₦7.46tn.

Morocco leads Africa in digital trade surpluses, with $26 billion 20-year cumulative gain
  • Morocco achieved the highest cumulative surplus in Africa’s digital trade at $26.4 billion between 2005 and 2024.
  • Mauritius and Tunisia followed distantly with surpluses of $8.7 billion and $4.4 billion, respectively.
  • Nigeria and Angola recorded the deepest deficits, each exceeding $90 billion cumulatively.
  • Africa’s overall digital trade balance remained negative, averaging a -$618 million deficit in 2024.
  • Smaller economies like Kenya and Togo managed modest but consistent surpluses over the years.

In 2024, Asia and Europe together accounted for 63% of the world's copper export value
  • Asia leads global copper exports with 31.6% of total export value.
  • Europe follows closely at 31.4%, making the two regions nearly equal in contribution.
  • Combined, Asia and Europe control 63% of the global copper export market.
  • Africa ranks third globally, contributing 15.3% to copper exports.
  • Oceania plays the smallest role, with just 2% of the total export value.

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