Commodity Price Indices and Terms of Trade (Q3 2021)

Highlights

¨ The All commodity group import index on average increased 0.52% .This was led by rising prices of products of the chemical and allied industries , wood and articles of wood, wood charcoal and articles , Paper making material; paper and paperboard.

¨  The All commodity group export price index averagely declined 2.33 %  due to decreases in the prices of mineral products, Animal and vegetable fats and oils and other cleavage products and vehicles; aircraft and parts thereof; vessels

¨ The All products terms of trade (TOT) index on average fell 2.85% as a result of  decreases in the prices of mineral products, Animal and vegetable fats and oil and other cleavage products, Vehicles, aircraft and parts thereof; vessels

¨ The All region group export index decreased by 2.33% mainly due to lower prices for export to all the region.

¨  The All region group import index increased by 0.52% due to marginal increases in import prices from all the region.

¨ The All region terms of trade on average decreased by 2.85% due to lower export prices to all the regions with rising import prices from all the regions.

¨  The major export and import market of Nigeria in Q3,2021 were India, Spain, Italy, France and China.

¨ The major export  to these countries were  crude petroleum and natural gas liquefied

¨ The major imports from these countries were Motorcycles, Vehicles with petrol fuel engine, motor spirits, Polyethylene and instruments, appliances and machines for measuring.

 


Data source: National Bureau of Statistics

INFOGRAPHICS