From Isaac Anumihe, Abuja
National Bureau of Statistics (NBS) has said that in the Q4, 2021, Nigeria’s total merchandise trade stood at N11,707.20 billion, 74.71 per cent higher when compared to the value recorded in the Q4, 2020.
A statement released by the bureau and obtained by Daily Sun from NBS website, at the weekend, also revealed that the share of exports in total trade stood at N5,766.62 billion, 49.26 per cent in Q4, 2021. Whereas imports value in the Q4, 2021 accounted for N5,940.58 billion, 50.74 per cent of total trade, export trade by region in Q4 2021 shows that Nigeria exported most products to Europe with goods valued at N2,408.39 billion or 41.76 per cent of total exports, Asia (N1,875.56 billion, or 32.52 per cent of total exports) and Africa was N773.83 billion or 13.42 per cent of total exports of which N250.52 billion worth of goods were exported to ECOWAS countries and exports to America amounted to (N702.74 billion, or 12.19 per cent of total exports).
“During the quarter, Nigeria imported goods mainly from Asia, valued at N2,743.76 billion or 46.19 per cent of total imports. This was followed by Europe at N2,422.41 billion or 40.78 per cent, America at N571.70billion or 9.62 per cent, Africa at N161.47 billion or 2.72 per cent and Oceania at N41.24 billion or 0.69 per cent. Imports from ECOWAS countries accounted for N35.76 billion, or 0.6 per cent of the value of total imports.