Nigeria recorded a trade surplus of N6.95 trillion in the second quarter of 2024, reflecting the country’s strong export performance amidst a slight decline in overall merchandise trade.
This surplus marks a 6.60% increase from the previous quarter, which recorded a surplus of N6.52 trillion.
Nigeria’s total merchandise trade in Q2 2024 stood at N31.89 trillion, representing a 3.76% decline compared to the preceding quarter (Q1 2024) but marking a 150.39% rise from the corresponding period in 2023.
This is according to a report, released by the National Bureau of Statistics (NBS) on Wednesday, which shows a decline in Nigeria’s import.
This is a developing story…
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