FOREIGN TRADE STATISTICS 3rd QUARTER 2016

FOREIGN TRADE STATISTICS 3rd QUARTER 2016

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

Data source: National Bureau of Statistics

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