Foreign Trade Hits N32.26tn in 2018 via thisdaylive
Nigeria’s total merchandise trade increased by 39.31 per cent to N32.26 trillion in 2018 compared to N23.16 trillion in 2017, according to the National Bureau of Statistics . NBS noted that the volume of total merchandise trade in 2018 was the highest recorded since 2014, and almost doubled the pre-recession levels.
The import component stood at N3.58 trillion in Q4, indicating a decline of N631.6 billion or 15 per cent when compared to Q3 estimates, but showed an increase of 69.6 per cent when compared with the corresponding quarter in 2017. According to NBS, the value of total exports in Q4 increased by 3.52 per cent compared to the level recorded in Q3, and was 28.46 per cent higher than Q4 2017 estimates.
Exports of energy goods increased in value by 6.1 per cent in Q4 compared to Q3 and by 12.7 per cent when compared with Q4 2017.
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