Commodity Price Indices and Terms of Trade
Between October and December 2018 (Jan 2018=100):
- The All commodity group import price index rose 0.89% due to a rise in the prices of prepared foodstuffs.
- The All commodity group export price index edged down by 2.02%. The decrease was led by falling prices of Vegetable products, Vehicles, aircraft and parts thereof and Products of the chemical and allied industries.
- The All products terms of trade (TOT) index fell 2.8%, due to falling prices of Products of the chemical and allied industries, Mineral products, Live animals; animal products.
- The All region group export index declined by 2.02% due to falling prices in trade with Asia and within Africa.
- The All region group import index ticked up 0.76% due to increase in prices associated with trade from Oceania and Africa
- The All region terms of trade fell -2.78% due to a fall in the prices of goods traded in Africa.
- Nigeria major trading partners in Q4,2018 were India, China, Spain, France and Netherlands
- The major export to these countries was crude petroleum and natural gas
- The major import from these countries was motor spirit (ordinary).
Data source: National Bureau of Statistics