Federal finance and statistics / National Bureau of Statistics

Foreign Trade in Goods Statistics (Q3 2021)

Key Highlights Nigeria's Merchandise Trade grew as imports increased significantly and showed a marginal growth in export, resulting in an unfavorable trade balance in Q3, 2021: Total Trade increased by 10.43% in Q3, 2021 compared to Q2, 2021 and 58.59% year-on-year. IMPORTS Total Imports value stood at N8,153.79 billion in Q3 2021 was 17.32% higher than Q2 2021 and 51.47% higher than Q3 2020. The value ofImported Agricultural goods was 21.01% higher than the value recorded in Q2, 2021 and 74% higher than Q3 2020. The value of Raw material imports was 9.08% more than Q2, 2021, and 29.06% more …