Nigeria’s exports to the United States declined sharply by N365.64 billion in the first quarter of 2026, even as imports from the world’s largest economy increased significantly.
According to the latest Foreign Trade in Goods Statistics released by the National Bureau of Statistics (NBS), exports to the US fell to N1.18 trillion from N1.54 trillion in the corresponding period of 2025, representing a 23.69% year-on-year drop.
The United States remained Nigeria’s fifth-largest export destination during the quarter. On a quarter-on-quarter basis, however, exports recovered by 31.60% from N895.06 billion recorded in Q4 2025.
Sharp Rise in Imports
In contrast, Nigeria’s imports from the US surged by 97.33% to N2.81 trillion from N1.42 trillion in Q1 2025. This resulted in a substantial bilateral trade deficit of approximately N1.63 trillion with America.
The NBS noted that China remained Nigeria’s largest source of imports with N5.10 trillion (37.42% of total imports), while the US ranked second with N2.81 trillion (20.60%).
Overall Trade Performance
Nigeria’s total exports stood at N21.17 trillion in Q1 2026, up 2.77% from the previous year, while total imports amounted to N13.62 trillion. This produced a trade surplus of N7.55 trillion.
Crude oil continued to dominate exports, contributing N11.20 trillion or 52.92% of total export value, while non-oil exports accounted for N3.19 trillion (15.05%).
The figures highlight a growing trade imbalance between Nigeria and the United States, with significantly higher imports from America and reduced demand for Nigerian goods in that market. Analysts say this trend underscores the need for Nigeria to diversify its export markets and strengthen local production capacity to reduce dependence on key trading partners.
