Foreign Trade Report Q2 2015

Foreign Trade Report  Q2 2015

The total value of Nigeria’s merchandise trade during Q2, 2015, was recorded at ₦4,372.4 billion. This was 0.5% less
than the value of ₦4,392.7 billion recorded in the preceding quarter. In comparison with the corresponding quarter of
2014, the value of the total merchandise trade decreased by â‚¦2,287.0 billion or 34.3%. Relative to the preceding quarter, a rise of ₦214.1 billion or 8.0%, in the value of exports combined with a decline of â‚¦234.4 billion or 13.6%, in the value of imports improved the country’s trade balance, which increased by 47.9% or ₦448.6 billion during the quarter (Table1). Year on year, the country’s trade balance declined by 48.8% as imports declined by 24.5% whilst exports declined even further by 38.5%.

Data source: National Bureau of Statistics