Foreign Trade in Goods Statistics (Q3 2018)

Nigeria Merchandise Trade rose significantly in Q3, 2018: Key Highlights:

Imports

- Total imports of N 4,172.3 in Q3,2018 was 73.8 % higher than Q2,2018 due to importation of submersible drilling platforms in August which was quite expensive and of course occasional importation. In the same way, there was a rise of 67.7% when compared with the import value of the corresponding quarter in 2017. - Value of imported Agriculture products in Q3,2018 was 0.1% lower than the value recorded in Q2 and 3.10% lower than Q3, 2017 - Value of Raw material imports was 11.67% more than Q2, 2018 and 2.19% higher than the value in Q3, 2017 - Solid minerals imports in Q3, 2018 increased by 0.83% compared to Q2, 2018 and 20.2%% more than Q3, 2017 - Energy goods import in Q3, 2018 was 90.4% lower than Q2, 2018 and compared to Q3, 2017, a decrease of 28.55% was recorded. - Manufactured goods import value was 122.97% in Q3, 2018 more than in Q2, and 116.08% higher than the level recorded in Q3, 2017. - Other oil products, import value was 41.03% more than Q2, 2018 and 36.9% more than Q3, 2017

Exports

Total exports value stood at N4,853.6 billion in Q3, 2018 representing an increase of 7.8% over Q2, 2018 and 35.7% increase over Q3, 2017 - Agriculture goods export value in Q3, 2018 was 47.2% lower than Q2, 2018 and 57.18 % higher than Q3, 2017 - Raw material exports value increase by 1.63% in Q3, 2018 against the level in Q2, and 21.7% against Q3, 2017. - Solid minerals exports value in Q3, 2018 decreased by 51.9% compared to Q2, 2018 and 37.1% against Q3, 2017.
- Energy goods, exports value in Q3, 2018 was 6.04% lower than Q2 and 31.4% higher than Q3, 2017. - Manufactured goods exports were 5.9% lower than Q2, 2018 but 52.2% higher than Q3, 2017. - Crude oil exports in Q3, 2018 was 10.03% more than the value recorded in Q2, 2018 and 39.5% higher than the value recorded in Q3, 2017. - Other oil products export in Q3, 2018 was 5.3% more in value than Q2, 2018 and 12.68% higher than Q3, 2017.

Data source: National Bureau of Statistics

INFOGRAPHICS

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