Saturday, November 28, 2020

National Bureau of Statistics says Nigeria imported N2.78tn worth of manufactured goods in three months

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Nigeria imported manufactured goods worth N2.78tn while the total export component was N254.2bn between April and June.

Figures obtained from the National Bureau of Statistics on foreign trade statistics for the second quarter, amounted to a difference of N2.52tn in the period under review.

According to the NBS, N757.99bn, N885.98bn and N1.14tn manufactured goods were imported in April, May and June respectively.

It also revealed that N137.06bn, N82.07bn and N35.03bn were exported in April, May and June respectively.

Export trade on manufactured goods by region showed that goods were exported mainly to Europe (N137.1bn) and within Africa (N96.98bn).

During the quarter, the data revealed that herbicides worth N58.8bn were imported from China while machine for reception were also imported from China amounting to N49.3bn