Bilateral trade between Nigeria and South Africa rose to N1.34 trillion in the first half of 2026, surpassing the total trade value recorded between the two countries throughout 2022.
Data from the National Bureau of Statistics (NBS), compiled by TheCableIndex, showed that the N1.34 trillion recorded in the first six months of 2026 was more than double the N594.84 billion recorded for the whole of 2022.
Trade between the two leading African economies stood at N952.24 billion in 2020 before declining to N623.86 billion in 2021 and N594.84 billion in 2022.
However, bilateral trade began a strong recovery in 2023, rising to N1.30 trillion before climbing sharply to N2.83 trillion in 2024.
In 2025, trade between Nigeria and South Africa stood at N2.52 trillion.
The N1.34 trillion recorded in the first six months of 2026 therefore represents more than half of the previous year’s total, indicating sustained growth in economic activity between the two countries.
The latest figures also highlight the significant expansion in Nigeria-South Africa trade since 2023, after several years of declining trade volumes.
The first-half 2026 figure is already significantly higher than the N594.84 billion recorded in 2022, pointing to a substantial increase in the value of goods and services exchanged between both economies.
The full-year 2026 trade value will, however, depend on the level of economic activity recorded in the second half of the year.
The development underscores the growing importance of Nigeria-South Africa economic relations and the continued expansion of trade between two of the continent’s largest economies.
, compiled by TheCableIndex, showed that the N1.34 trillion recorded in the first six months){kind=link}