Nigeria’s annual total trade hits N52.4tr in 2022

Recent report published by the National Bureau of Statistics has revealed that Nigeria’s total trade in the fourth quarter of 2022 stood at N11.72 trillion of which total exports stood at N6.36 trillion and total imports amounted to N5.36 trillion.

On an annual basis, total trade was N52.39 trillion, total imports amounted to N25.59 trillion, and total exports were recorded at N26.797 trillion.

Total exports increased in the fourth quarter by 7.17% and 10.28% when compared to the amount recorded in the third quarter of 2022 (N5.93 trillion) and the corresponding quarter in 2021 (N5.77 trillion) respectively. Conversely, total imports declined by 15.46% in the fourth quarter of 2022 compared to the value recorded in the third quarter of 2022 (N6.34 trillion) and fell by 9.73% when compared to the value recorded in the corresponding quarter of 2021 (N5.94 trillion). Re-export’s value in the quarter under review stood at N199.59 billion representing 3.14% of total exports.

Source: Nigeria’s annual total trade hits N52.4tr in 2022 – StocksWatch (stocksng.com)

Related Posts

03

Nov
Business & Economy

ELITE WEALTH PLACEMENT FUND

Welcome to the Elite Wealth Placement Fund – a bespoke investment vehicle designed exclusively for high-net-worth individuals seeking attractive and tailored placement opportunities. Our fund is managed by a team of seasoned financial experts with a proven track record of delivering superior returns, while prioritizing risk management and long-term wealth preservation. As an exclusive member, you will […]

03

Nov
Business & Economy

PZ Cussons Nigeria Plc reports N113bn revenue, boosts profit after tax by 114% in one year

The Audited Financial Statement of PZ Cussons for the year ended 31 May 2023 show significant growth in the Company’s bottom line figures with 114% growth in its profit after tax for the 12 months period. The Group reported revenue of N113.964 billion for the 12 months period, up by 14.53% from N99.503 reported the previous year.[…]