Nigeria merchandise trade grew in Q3, 2019 with higher exports and lower imports.
-Total trade grew by 6.8% in Q3,2019 compared to Q2,2019 and 1.33% relative to Q3, 2018.
- 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.
- 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 raw material imports decreased 4.64% in Q3,2019 relative to Q2, 2019 but increased 16.81% when compared to Q3 2018.
- The value of solid minerals imports was 31.73% lower than the value of in Q2, 2019 but 7.05% higher than the value recorded in Q3 2018.
- The value of energy goods imports increased by 243.92% in Q3, 2019 and 286.91% relative to Q3, 2018 due to increased import of other wood charcoal, electrical energy and Charcoal of bamboo.
- The value of imported manufactured goods grew by 12.46% in Q3,2019 against the value recorded in Q2,2019 but decreased by 3.48% when compared to Q3, 2018.
- The value of Other oil products imported decreased by 41.85% in Q3,2019 against the level recorded in Q2, 2019 and 54.59% when compared to Q3,2018.
- 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.
- The value of agricultural exports decreased by 42.69% in Q3 2019 relative to Q2, 2019 and 7.30% when compared to Q3, 2018.
- The value of raw material goods exports in Q3, 2019 decreased by 5.74% in Q3,2019 against Q2, 2019 and 8.84% against Q3 2018.
- The value of solid minerals exports decreased by 17.08% in Q3, 2019 against Q2, 2019 and 34.97% against the corresponding quarter in 2018.
- The exports of energy goods decreased in value by 40.06% in Q3 2019 compared to Q2, 2019 and 45% when compared with Q3,2018.
- The value of manufactured goods exports increased by 839.44% in Q3, 2019 when compared with the value recorded in Q2, and over 1000% compared to Q3 2018. The notable increase recorded was due to the re-exports of high value Cable Sheaths of Iron, as well as submersible drilling platform, Vessels and other floating structures.
- The value of crude oil exports in Q3 2019 was 4.79% lower than in Q2 2019 and 9.62% lower than Q3 2018.
- The value of Other oil products exports rose by 6.14% in Q3 2019 against Q2, 2019 but fell by 15.19% relative to Q3,2018
Data source: National Bureau of Statistics