Nigeria’s total trade increases 14% in 2019 – NBS
says Nigeria recorded N36.152 trillion as value of total trade in 2019, representing a 14.05 per cent increase over 2018.
It said that in the fourth quarter of 2019, the value of total trade was N10.1 trillion, or 10.2 per cent higher than the value recorded in quarter three, 2019 and 25.9 per cent higher than in quarter four, 2018. “On the other hand, the import component increased by 37.20 per cent in quarter four against quarter three, 2019 and 49.34 per cent against quarter four, 2018.
According to the report, the value of energy goods imports decreased by 65.27 per cent in quarter four, 2019 compared to quarter three, 2019 and by 75.86 per cent compared to quarter four of 2018.On other oil products imports, the NBS said that they were 60.59 per cent higher in value in quarter four, 2019 than in quarter three and 2.11 per cent higher than quarter four, 2018.
“However the value of crude oil exports in quarter four, 2019 was 3.16 per cent lower than in quarter three, 2019 and 0.88 per cent lower than the corresponding quarter of 2018.
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