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Nigeria’s merchandise trade grew in Q3, 2019 with higher exports and lower imports -NBS

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The Nigeria’s merchandise trade grew in Q3, 2019 with higher exports and lower imports according to the report published today 13th December 2019 by the Nigeria National Bureau of Statistics.

The report stated that the total trade grew by 6.8% in Q3,2019 compared to Q2, 2019 and 1.33% relative to Q3, 2018.

Summary of external trade in goods export and import
The value of total imports decreased 2.70% in Q3 2019 compared to Q2,2019, and 7.47% relative to the corresponding quarter of 2018 thanks the the boarder closure although the margin is not that high.
The value of total exports in Q3, 2019 increased by 15.02% compared to the level recorded in Q2, 2019 and 8.97% when compared with its value in Q3, 2018.

Agricultural Import and Export Q3 2019
In Q3, 2019, the value of imported agricultural products was 4.01% lower than in Q2,2019, but 7.21% higher than Q3, 2018.
The value of agricultural exports decreased by 42.69% in Q3 2019 relative to Q2,
2019 and 7.30% when compared to Q3, 2018.

Agricultural Goods Exports to Economic Regions of the World (N’million)

AFRICA N645.40
AMERICA N2,092.17
ASIA N20,548.36
EUROPE N18,034.34
OCEANIA N785.24

TOTAL N42,105.51

Agricultural Goods Imports from Economic Regions of the World (N’million)

AFRICA N13,619.53
AMERICA N94,351.24
ASIA N33,742.24
EUROPE N98,201.27
OCEANIA N28.26

TOTAL N239,942.54

Major Traded Agriculture Products for the Q3 2019

Majority of the Traded Agriculture Products for the Q3 2019 includes
Sesame seeds, cocoa beans, cashew nuts- shelled and Raw Cashew Nuts (RCN), Coconuts (endocarp), cocoa butter, cotton (excluding seeds), among other

View report here

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