Between October and December 2023 (Jan 2018=100):

• The All-Commodity Group Import Index for Q4, 2023 on average increased by 0.79 per cent points. The increase can be attributed to the changes in import prices mainly in the price of “Mineral products”, “Prepared foodstuffs; beverages, spirits and vinegar; tobacco” "Textiles and textile articles’’, and “Papermaking material; paper and paperboard, articles.’’.
• The All-Commodity Group Export Price Index increased on average by 0.57 per cent points in Q4, 2023. The increase was majorly attributed to changes in the prices of “Prepared foodstuffs; beverages, spirits and vinegar; tobacco.”, “Live animals; animal products” “Vehicles, aircraft, and parts thereof; vessels etc.”, and “Products of the chemical and allied industries”.
• The All Products Terms of Trade (TOT) Index on average decreased by 0.22 per cent points.
• The All-Region Group Export Index increased by 0.57 per cent points mainly due to an upward change in prices of exports to all economic regions.
• The All-Region Group Import Index increased by 0.79 per cent points due to increases in import prices from all regions.
• The All-Region Terms of Trade on average decreased by 0.22 per cent points.
• The major export destinations of Nigeria in Q4, 2023 were The Netherlands, India, Spain, Canada, and France.