Nigeria Records #3Billion Trade Deficit For Third Quarter- NBS

Analysis from the National Bureau of Statistics suggests that International trade between Nigeria and other nations of the world stood at 13,287.09 billion naira, a figure indicating over 3 billion naira deficit for the third quarter of 2021. NBS Statistician General, Dr Simon Harry disclosed this at a news conference in Abuja on trade statistics for the third quarter,2021. He said increase in the importation of motor spirit ,gas and motorcycles necessitated the development also responsible for export trade value of 5,130.30 billon naira and import trade value of 9,153.79 billion naira respectively. The Bureau further stated that Nigeria export trade in the quarter under consideration was dominated by Crude oil, Natural Gas and submersible drilling platforms. Other indexes listed Nigeria’s top trading partners in export trade to include India, Spain, Italy, France and Netherlands with China and India toping the import partners segment.

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