Nigeria’s external trade sector showed robust performance in the first quarter of 2026, with the country recording a significant trade surplus with its partners across the globe.
- 1. China (Asia) – N5.68 trillion
- 2. United States (America) – N3.98 trillion
- 3. India (Asia) – N3.76 trillion
- 4. ECOWAS Countries (Africa) – N2.27 trillion
- 5. Netherlands (Europe) – N2.13 trillion
- 6. France (Europe) – N2.10 trillion
- 7. Spain (Europe) – N1.81 trillion
- 8. Italy (Europe) – N1.02 trillion
- 9. Canada (America) – N775.40 billion
- 10. Brazil (America) – N701.92 billion
According to official statistics, total merchandise trade reached approximately ₦34.8 trillion, driven largely by strong crude oil and non-oil export earnings.
In this context, Nigeria’s top 10 external trade partners for Q1 2026 highlight the country’s diversified trade relationships across Asia, America, Europe, and Africa. China maintained its position as the leading partner, reflecting its dominant role in imports, while Asian and European nations featured prominently.
Data from the National Bureau of Statistics (NBS) showed that Nigeria’s largest external trading partners accounted for a significant share of the country’s total merchandise trade during the quarter, reflecting the continued importance of crude oil, refined petroleum products, fertilizers, machinery, pharmaceuticals, and manufactured goods in shaping trade relationships.
Asia remained Nigeria’s dominant trading region, driven largely by trade with China and India, while Europe maintained a strong presence through countries such as the Netherlands, France, Spain, Italy, and the United Kingdom.
Below is the list of Nigeria’s top external trade partners in 2026;
1. China (Asia) – N5.68 trillion
China remained Nigeria’s largest trading partner in Q1 2026, with total trade valued at N5.68 trillion.
Imports from China stood at N5.10 trillion, accounting for most of the bilateral trade, while exports to China totaled N582.20 billion.
As a result, Nigeria recorded a trade deficit of N4.51 trillion with China during the quarter.
Although trade volume declined from N6.20 trillion in Q4 2025, it remained significantly above the N4.96 trillion recorded in Q1 2025.
2. United States (America) – N3.98 trillion
The United States ranked as Nigeria’s second-largest trading partner in the first quarter of 2026.
Total trade between both countries stood at N3.98 trillion, consisting of imports worth N2.81 trillion and exports valued at N1.18 trillion.
Unlike many of Nigeria’s major trade relationships, the country recorded a trade deficit of N1.63 trillion with the United States.
Nevertheless, trade activity expanded sharply from N2.51 trillion recorded in Q4 2025 and N2.97 trillion in Q1 2025, representing one of the strongest year-on-year increases among Nigeria’s leading partners.
The U.S. remains a major source of industrial products, machinery, energy-related goods, and agricultural imports, while also serving as an important destination for Nigerian exports.
3. India (Asia) – N3.76 trillion
India retained its position as one of Nigeria’s most important trading partners, with total trade reaching N3.76 trillion in Q1 2026.
Nigeria imported goods worth N992.87 billion from India while exporting products valued at N2.77 trillion, translating to a trade surplus of N1.78 trillion.
Trade with India increased significantly from N2.94 trillion in Q4 2025, although it remained below the N5.15 trillion recorded in Q1 2025.
India continues to be a major destination for Nigerian crude oil, liquefied natural gas, and agricultural commodities, while serving as an important source of pharmaceuticals, machinery, and manufactured products.
India slipped from first place in Q1 2025 to third in Q4 2025 and maintained that position in Q1 2026, reflecting a moderation in trade activity after a period of elevated volumes.
4. ECOWAS Countries (Africa) – N2.27 trillion
Trade between Nigeria and ECOWAS member states totaled N2.27 trillion during the quarter.
Exports dominated at N2.20 trillion, while imports amounted to just N65.91 billion.
The resulting trade surplus of N2.14 trillion underscores Nigeria’s position as a major supplier within the West African sub-region.
Trade with ECOWAS countries expanded from N2.09 trillion in Q4 2025 and almost doubled the N1.16 trillion recorded in Q1 2025, highlighting the growing impact of regional integration initiatives and intra-African trade.
Exports featured cigarettes, lithium-ion accumulators, cement clinkers, and other solid minerals excluding white cement.
5. Netherlands (Europe) – N2.13 trillion
The Netherlands recorded a total trade of N2.13 trillion with Nigeria in Q1 2026.
Exports from Nigeria to the Netherlands reached N1.95 trillion, while imports stood at N174.63 billion, generating a substantial trade surplus of N1.78 trillion.
Despite remaining among Nigeria’s most important European trading partners, trade volume declined sharply from N3.55 trillion recorded in the preceding quarter and was also below the N2.82 trillion recorded in Q1 2025.
Major exports were cocoa products; soya beans and imports included frozen herrings and meat.
6. France (Europe) – N2.10 trillion
France emerged as Nigeria’s sixth-largest trading partner in Q1 2026, with total trade valued at N2.10 trillion.
Exports accounted for N1.97 trillion, while imports stood at N132.20 billion.
The resulting trade surplus of N1.83 trillion highlights the strength of Nigeria’s export relationship with France, particularly in agricultural products such as flours and meals of soya beans.
Trade with France increased significantly from N1.67 trillion in Q1 2025 and N1.60 trillion in Q4 2025, making it one of the fastest-growing trade relationships among Nigeria’s major partners.
7. Spain (Europe) – N1.81 trillion
Total trade between Nigeria and Spain reached N1.81 trillion during the quarter.
Exports dominated the trade at N1.63 trillion, while imports were significantly below N180.11 billion, consequently recording a trade surplus of N1.45 trillion.
Although Spain remained one of Nigeria’s largest European trading partners, total trade declined from N2.31 trillion recorded in Q4 2025.
However, on a year-on-year basis, trade expanded from N1.68 trillion in Q1 2025.
Imports are solid minerals including gypsum, granite, and plaster.
Spain maintained its fifth-place rank in Q4 2025 and Q1 2025 but dropped to seventh in Q1 2026, reflecting a decline in trade volumes during the period.
8. Italy (Europe) – N1.02 trillion
Nigeria’s trade with Italy amounted to N1.02 trillion in Q1 2026.
Exports were valued at N800.25 billion, while imports totaled N215.51 billion, leaving Nigeria with a trade surplus of N584.74 billion.
Italy recorded a decline from the N1.46 trillion traded in Q1 2025. However, the latest figure represented a strong rebound from N616.53 billion in Q4 2025.
The country remains a key European destination for Nigerian energy exports and industrial commodities (such as leather, natural rubber), as imported products are used vehicles.
Italy returned to the list in Q1 2026 after being absent in Q4 2025, improving on its seventh-place position in Q1 2025, reflecting a renewed uptick in trade activity between both countries.
9. Canada (America) – N775.40 billion
Trade between Nigeria and Canada reached N775.40 billion in the first quarter of 2026.
Exports accounted for N670.29 billion, while imports stood at N105.11 billion, resulting in a trade surplus of N565.17 billion for Nigeria.
However, overall trade volume declined from N1.13 trillion in Q4 2025 to N900.46 billion recorded in the corresponding quarter of 2025.
Canada remained an important destination for Nigerian exports, particularly agricultural-related products such as superior quality cocoa beans and soya beans, while imported products consist of durum wheat, motorcycles, and used vehicles.
Canada retained its ninth position in Q1 2026, the same rank it held in Q4 2025, up from tenth place in Q1 2025, reflecting a modest but steady improvement in bilateral trade activity.
10. Brazil (America) – N701.92 billion
Nigeria’s total trade with Brazil stood at N701.92 billion in Q1 2026, comprising imports worth N214.71 billion and exports valued at N487.21 billion.
Despite remaining among Nigeria’s leading trade partners, trade activity with Brazil declined significantly from N1.39 trillion recorded in Q4 2025 and N931.24 billion in Q1 2025.
Nigeria maintained a trade surplus of N272.50 billion with Brazil during the period, reflecting stronger imports of urea, and imports included durum wheat and cane sugar.
Brazil slipped to tenth place in Q1 2026, down from eighth in Q4 2025 and ninth in Q1 2025, reflecting a stronger decline in bilateral trade values and volumes over the past year.
