Photo credit: DiasporaEngager (www.DiasporaEngager.com).
The recent Foreign Trade in Goods Statistics released by the National Bureau of Statistics (NBS) shows that Nigeria recorded a trade deficit of N1.41 trillion in the fourth quarter of 2023 (Q4 2023). In the quarter, Nigeria’s total trade was ₦26.80 trillion, implying a 38.24 percent increase from the value recorded in the third quarter of 2023 (N19.38 trillion) and a 128.64 percent increase from the value recorded in the corresponding period in 2022 (11.72 trillion). Total exports stood at N12.69 trillion, and imports at N14.10 trillion.
Source of original article: CSEA AFRICA – CENTRE FOR THE STUDY OF THE ECONOMIES OF AFRICA (cseaafrica.org).
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