Nigeria Tops Africa’s Trade Surplus Leaders with $8.4 Billion

Nigeria has emerged as the leader in trade surplus in Africa, with a positive balance of $8.4 billion in the first six months of 2025.

This impressive feat underscores the country’s resilience in foreign trade despite structural challenges.

The surplus was driven largely by strong crude oil exports, which accounted for nearly 58% of total exports, valued at $16.6 billion.

However, Nigeria’s trade profile shows signs of diversification, with agricultural goods exports increasing by 33% to $1.97 billion compared to the same period in 2024.

Non-oil exports also reached $4.14 billion, representing about 14% of total export earnings.

Standout products include urea, generating $410.5 million, and cashew nuts, earning $235 million.

In comparison to other African economies, Ghana followed Nigeria with a surplus of $5.7 billion, while South Africa came in third with $4.6 billion. South Africa recorded larger trade volumes, exporting goods worth $57 billion and importing $52.4 billion. Egypt and Morocco, however, reported substantial deficits of $19.48 billion and $17.81 billion, respectively.

Despite its impressive trade surplus, Nigeria’s total trade volume of $49.4 billion trailed behind South Africa’s, highlighting the country’s narrower export base and limited economic complexity.

To further boost its economy, Nigeria may need to focus on deepening industrialization and diversifying its exports beyond crude oil.