Nigeria’s exports to the United States declined significantly by N365.64 billion in the first quarter of 2026, even as imports from America increased sharply, widening the bilateral trade gap.
According to the National Bureau of Statistics (NBS) Foreign Trade in Goods Statistics report, exports to the US fell to N1.18 trillion from N1.54 trillion in the corresponding period of 2025 a 23.69% year-on-year decrease.
Despite the decline, the US remained Nigeria’s fifth-largest export destination during the quarter. On a quarter-on-quarter basis, exports recovered by 31.60% from N895.06 billion in Q4 2025.
Sharp Rise in US Imports
Imports from the US, however, jumped by 97.33% to N2.81 trillion from N1.42 trillion in Q1 2025. This was also 74.14% higher than the N1.61 trillion recorded in the fourth quarter of last year.
The imbalance resulted in a bilateral trade deficit of approximately N1.63 trillion with the United States.
Broader Trade Context
India remained Nigeria’s leading export market with N2.77 trillion (13.09% of total exports), followed by France, the Netherlands, Spain, and the United States.
On the import side, China topped the list with N5.10 trillion (37.42% of total imports), while the US ranked second at N2.81 trillion (20.60%).
Nigeria’s overall imports declined by 18.17% year-on-year to N13.62 trillion, while total exports stood at N21.17 trillion, producing a trade surplus of N7.55 trillion for the quarter.
The latest figures highlight a growing trade asymmetry with the United States, where Nigeria buys far more than it sells. Analysts say this trend underscores the need for Nigeria to diversify its export base and strengthen local manufacturing capacity to reduce dependence on key trading partners.
