From Isaac Anumihe, Abuja
National Bureau of Statistics (NBS) has said that in the Q4, 2021, Nigeria’s total merchandise trade stood at ₦11,707.20 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 ₦5,766.62 billion, 49.26 per cent in Q4, 2021.
Whereas imports value in the Q4, 2021 accounted for ₦5,940.58 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 ₦2,408.39 billion or 41.76 per cent of total exports, Asia (₦1,875.56 billion, or 32.52 per cent of total exports) and Africa was ₦773.83 billion or 13.42 per cent of total exports of which ₦250.52 billion worth of goods were exported to ECOWAS countries and exports to America amounted to (₦702.74 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 ₦ 2,422.41 billion or 40.78 per cent, America at ₦ 571.70billion or 9.62 per cent, Africa at ₦161.47 billion or 2.72 per cent and Oceania at ₦41.24 billion or 0.69 per cent. Imports from ECOWAS countries accounted for ₦35.76 billion, or 0.6 per cent of the value of
“The total value of capital importation into Nigeria in the fourth quarter of 2021 stood at $2,187.63 million from $1,731.37 million in the preceding quarter showing an increase of 26.35 per cent 26.35 per cent” NBS, said, adding that the largest amount of capital importation by type was received through other investment, which accounted for 54.24 per cent ($1,186.53 million).
This was followed by portfolio investment with 29.39 per cent ($642.87 million) and foreign direct investment (FDI) amounted to 16.38 per cent ($358.23 million) of total capital imported in Q4 2021.
On capital importation by sector, tanning had the highest inflow of $645.59 million amounting to 29.51 per cent of total capital imported. This was followed by capital imported into the production sector, valued at
$360.06 million (16.46 per cent) and the electricals sector with $325.55 million (14.88 per cent)