Sahara News
Breaking News in Nigeria and World wide

Nigeria’s total trade for Q4 2022 stood at N11.722bn – NBS

According to the National Bureau of Statistics (NBS), Nigeria’s total merchandise trade in the fourth quarter of 2022 was N11,722.44 billion.

The NBS Foreign Trade in Goods Statistics Report for Q4 2022, which was released in Abuja on Friday, states that this is the case.

According to the NBS, total imports and exports totaled N5,362.83 billion and N6,359.61 billion, respectively.

According to the report, total trade reached N52,387.30 billion annually, total imports reached N25,590.55 billion, and total exports reached N26,796.75 billion.
It stated that total exports increased by N5,766.62 billion in Q4 2021 and N5,934.15 billion in Q4 2022, respectively, by 7.17 percent and 10.28 percent, respectively.

ALSO READ:  BREAKING:FBI Probing danger to crash plane into US Capitol to retaliate for Soleimani's passing – Reports.

However, total imports decreased by 15.46 percent in Q4 2022, according to the report, compared to N6,343.53 billion in Q3 2022.

According to the statement, “Total imports also fell by 9.73 per cent when compared to the value recorded in the fourth quarter of 2021 at N5,940.58 billion.”

According to the NBS, the value of re-exports in the current quarter was N199.59 billion, or 3.14 percent of total exports.

According to the report, Namibia, Equatorial Guinea, Cameroon, Ghana, and Togo were the top five destinations for re-exports.

ALSO READ:  JUST IN: I May Be ‘Baba Go Slow’ but I Don’t Loot – Buhari

It said the most re-traded ware was ”Drifting or submarine penetrating or creation stages recorded at N142.02 billion.

“Cruise ships and similar vessels for the transportation of people or goods worth 500 tonnes valued at N14.78 billion followed.”

“Following this were frigid vessels with a capacity of 500 tons and a value of N13.16 billion, other than those of subheading 8901.20.”

According to the report, Spain, the Netherlands, India, France, and Indonesia were the top five destinations for exports in Q4 2022, accounting for 9.70 percent, 9.03 percent, 7.71 percent, 7.70 percent, and 7.44 percent, respectively, of total exports.

ALSO READ:  BREAKING:Tiger Woods fortunate to be alive – Doctor

According to NBS, “a total of 41.59 percent of the total value of exports amounted to exports to the top five countries.”

It stated that “Petroleum oils and oils obtained from bituminous minerals, crude” had the highest export values during the study period, totaling N4,911.92 billion, or 77.24 percent.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

error: Content is protected !!