Q4 2023 and 2023FY Foreign Trade in Goods Statistics Report -Breaking the Surplus Streak
Breaking the Surplus Streak Recently, the National Bureau of Statistics (NBS) published the Foreign Trade in Goods statistics report for Q4:2023. On a Quarter-on-Quarter (QoQ) basis, Total Imports (+56.04% to NGN14.11trn in Q4:2023 vs. NGN9.04trn in Q3:2023) and Total Exports (+22.68% to NGN12.69trn in Q4:2023 vs. NGN10.35trn in Q3:2023) recorded significant increases. Consequently, we observed […]
Q3 2023Foreign Trade in Goods Statistics | Four Consecutive Quarters of Trade Surplus
Four Consecutive Quarters of Trade Surplus In the recently released Q3:2023 Foreign Trade in Goods statistics report by the National Bureau of Statistics (NBS), Total Trade in the quarter jumped by 54.62% Quarter-on-Quarter (QoQ) to NGN18.80trn from NGN12.16trn in Q2:2023. This surge is associated with similar growth in Total Imports (+47.70% QoQ to NGN8.46trn in […]
Q2:2023 Foreign Trade in Goods Statistics | Balance of Trade Maintains Positive Streak
Yesterday, the National Bureau of Statistics (NBS) released the Foreign Trade in Goods statistics for Q2:2023. On a Quarter-on-Quarter (QoQ) basis, Total Trade increased by 5.77% to NGN12.74trn (vs. NGN12.05trn in Q1:2023). This is due to the growth in both Total Imports (+2.99% QoQ) and Total Exports (+8.15% QoQ) to NGN5.73trn and NGN7.02trn respectively. However, […]
