Commodity Price Index and Terms Of Trade Q3 2018
Between July and September 2018 (Jan 2018=100):
- The All commodity group import price index decreased by 1.76% due to prices of vegetable products.
- The All commodity group export price index rose by 1.26% driven by prices of prepared foodstuffs;
beverages, spirits and vinegar; tobacco and Footwear, headgear, umbrellas, sunshades, whips etc.
- The All products terms of trade (TOT) index rose by 0.52% driven by prices of prepared foodstuffs;
beverages, spirits and vinegar; tobacco and Footwear, headgear, umbrellas, sunshades, whips etc.
- The All region group export index rose by 1.05% as a result of trade with the Continent of Asia
- The All region group import index rose by 1.22% as a result of trade with Oceania and Asian Regions
- The All region terms of trade rose marginally by 0.10% as a result of trade with Asia and other African
Countries.
In Q3 2018, Nigerias top five trading partner countries were India, China, Spain, France and the Netherlands.
- The major export to these countries was crude petroleum and natural gas
- The major import from these countries was motor spirit (ordinary) and motorcycles.
Data source: National Bureau of Statistics