Tag
FOREIGN TRADE
Nigeria recorded a total foreign trade of N12.84 trillion in the second quarter of 2022, representing a 32.2% increase compared to the corresponding period of 2021 (N9.71 trillion).
Nigeria’s foreign trade rose to N13 trillion in the first quarter of 2022, increasing by 11.1% from N11.7 trillion recorded in the previous quarter...
Nigeria spent a total of N4.56 trillion on the importation of moto spirit (fuel) in 2021 about 128% higher than the N2 trillion spent on fuel importation in 2020.
Nigeria recorded foreign trade of N39.8 trillion in 2021, representing a 58% surge compared to N25.22 trillion recorded in 2020.
Nigeria’s foreign trade increased by 58.6% year-on-year in the third quarter of 2021, reaching a record N13.28 trillion...
Nigeria’s crude oil exports fell by a whopping 41.9% year-on-year in the first quarter of 2021.
China, Netherlands, and the United States accounted for 48.8% of the total import bill in Q1 2021.
A major problem in Nigeria has been the access to food and the incessant increase in the prices of food items in various regions of the country.
The surge in imports compared with the decline in exports resulted in the 6th consecutive quarter of trade deficit and the highest trade deficit since 2011.
Nigeria's import surged by 54% year-on-year to N6.85 trillion in the first quarter of 2021.
Here is a list of the top 10 agro-food products exported by Nigeria in 2020
Nigeria recorded its highest foreign trade deficit since 1981 as the country's trade balance stood at -N7.38 trillion in 2020