Merchandise Trade Balance in Nigeria
The merchandise trade balance in Nigeria averaged USD 7.9 billion in the decade to 2022. The 2022 reading was USD 6.0 billion. For more trade information, visit our dedicated page.
Nigeria Trade Chart
Note: This chart displays Trade Balance (USD billion) for Nigeria from 2013 to 2023.
Source: Macrobond.
Nigeria Trade Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | 2.9 | -16.4 | -4.6 | 6.0 | 8.1 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Nigerian trade projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable trade forecast available for Nigerian trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Nigerian trade projections.
Want to get access to the full dataset of Nigerian trade forecasts? Send an email to info@focus-economics.com.