Commodity Price Indices and Terms of Trade (Q2 2019)
Between April and June 2019 (Jan 2018=100):
- The All commodity group import index decreased by 0.25% due to the fall in prices of textiles and textile articles, Raw hides and Skin, Boilers Machinery and Appliances.
- The All commodity group export price index rose by 1.02% due to increases in the prices of Footwear, headgear, Umbrellas, Textiles and Textile articles, Prepared foodstuffs, beverages, spirits and Vinegar.
- The All products terms of trade (TOT) index increased by 1.27% due to increases in prices of Footwear, Headgear, Umbrellas, Sun Shade…, Textiles and Textile articles, Prepared foodstuffs…, as well as Base Metals and articles of Base Metals
- The All region group export index rose by 1.02% mainly due to rise in export prices to Asia.
- The All region group import index declined by 0.25% due to decreases in import prices from America and Africa.
- The All region terms of trade increased by 1.27% due to increased Trade with Asia, America and Europe
- Nigeria major trading partners (both imports and exports) in Q2,2019 were India, China, Spain, United States and Netherlands
- The major export to these countries were crude petroleum and natural gas
- The major imports from these countries were Motor spirits, Used Vehicles and motor cycles
Data source: National Bureau of Statistics