Business

Foreign Trade in Goods Statistics (Q1 2024)

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The National Bureau of Statistics’ latest data on foreign trade, manufactured goods and petroleum oil products, including fuel, accounted for 80.55 percent of Nigeria’s imports in Q1 2024.
Specifically, the value of imported manufactured goods was N5,738.32 billion (45.39 percent), and other petroleum products amounted to N4,445.52 billion (35.16 percent).
The imports of raw materials, agricultural goods, and solid minerals were valued at N1,467.41 billion, N920.54 billion, and N71.38 billion, respectively while the he total imports for Nigeria in Q1 2024 reached N12,643.23 billion, marking a 39.65 percent increase from Q4 2023’s value of N9,053.78 billion.
On the export side, Nigeria’s total exports were N19,167.40 billion in Q1 2024, showing a significant 51.00 percent increase compared to N12,693.62 billion in Q4 2023.

Written by: bossgmsi

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