FOREIGN TRADE STATISTICS 3rd QUARTER 2016
The total value of Nigeria’s merchandise trade at the end of Q3, 2016 stood at â‚¦4,721.9 billion, an increase of â‚¦661.5 billion or 16.3% from the preceding quarter value of â‚¦4,060.4 billion. This development arose due to increase in both imports and exports. Exports stood at â‚¦2,308,857.2 billion resulting to an increase of â‚¦520.8 billion or 29.1%, while imports rose to â‚¦2,413,001.7 billion which gives an increase of â‚¦140.7 billion or 6.2%. The rise in exports this quarter reduced the deficit trade balance from -â‚¦484,238.7 billion experienced in the previous quarter to -â‚¦104,144.5 billion.
Data source: National Bureau of Statistics