Between October and December 2021 (Jan 2018=100):
- The All-commodity group import index on average increased by 0.47%. The highest increase was recorded by Textiles and textile articles, followed by Boilers, machinery and appliances, parts thereof and Wood and articles of wood, wood charcoal and articles.
- The All-commodity group export price index averagely declined by 0.33% in Q4 2021. The decline was majorly attributed to decreases in the prices of Products of the chemical and allied industries, Mineral products, and Animal and vegetable fats and oils and other cleavage.
- The All products terms of trade (TOT) index on average fell by 0.25% as a result of decreases in the prices of Products of the chemical and allied industries, mineral products and Animal and vegetable fats and oil and other cleavage products.
- The All region group export index decreased by 0.33% mainly due to lower prices for export to most regions.
- The All region group import index increased by 0.47% due to increases in import prices to the regions.
- The All region terms of trade on average decreased by 0.25% due to lower export prices to all the regions with rising import prices from all the regions.
- The major export and import markets of Nigeria in Q4, 2021 were India, Spain, The Netherlands, France and China.
Data source: National Bureau of Statistics