NBS: Foreign Trade Records Fourth Consecutive Rise in 2018 via thisdaylive
The National Bureau of Statistics has said foreign trade recorded fourth consecutive rise from N16.29 trillion in 2015 to N32.26 trillion in 2018.
Meanwhile, the bureau said during the fourth quarter of 2018, the total merchandise trade stood at N8.60 trillion compared to its value of N9.06 trillion recorded in the third quarter of the year. It said mineral fuel worth N83 billion or 23.2 per cent of total imports was also recorded, while the importation of chemical and related products accounted for N398.1 billion or 11.1 per cent of the total imports during the quarter.
Nigeria’s imports by country of origin showed imported goods were predominantly from China valued at N900 billion or 25.1 per cent of the value of total imports. The structure of Nigeria’s export trade valued at N5.02 billion in fourth quarter, 2018 was dominated by crude oil exports, which contributed N4.3 billion or 84.2 per cent to the value of total exports.
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