Manufactured goods exported for the third quarter of the year 2021,were 39.4% more than the value in Q2 2021 and 121.6% higher than Q3 2020, the Nationalย Bureau of Statistics (NBS) has said.
The bureau said Nigeriaโs Merchandise Trade grew as imports increased significantly and showed a marginal growth in export, resulting in an unfavorable trade balance in Q3, 2021:
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Total Trade increased by 10.43% in Q3, 2021 compared to Q2, 2021 and 58.59% year-on-year.
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Total Imports value stood at N8,153.79 billion in Q3 2021 was 17.32% higher than Q2 2021 and 51.47% higher than Q3 2020.
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The value of imported Agricultural goods was 21.01% higher than the value recorded in Q2, 2021 and 74% higher than Q3 2020.
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The value of Raw material imports was 9.08% more than Q2, 2021, and 29.06% more than the value in Q3 2020.
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Solid Minerals imports in Q3 2021 increased by 10.93% compared to Q2 2021 and 53.42% compared to Q3 2020.
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Energy goods imports in Q3 2021 were 408.51% more than Q2 2021 and 24.14% more than Q3 2020.
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The value of Total Exports stood at N5,130.30billion in Q3, 2021 representing an increase of 1% over Q2 2021 and 71.38% over Q3 2020.
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Agricultural goods export value in Q3, 2021 was 5.9% lower than Q2 2021 but 31.0% higher than Q3 2020.
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Raw material exports value increased by 135.2% in Q3 2021 against the level in Q2 2021 and 1,241.1% higher than Q3 2020.
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Solid Minerals exports value in Q3 2021, increased by 22.7% compared to Q2 2021 and 222.8% compared to Q3 2020.
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Energy goods exports value in Q3 2021 was 58% lower than Q2 2021 and 34.5% lower than the value in Q3 2020.
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Crude Oil exports in Q3 2021 were 1.3% lower than the value recorded in Q2 2021 but 66% higher than Q3 2020.
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Other oil products exports in Q3 2021 were 3.6% more in value than in Q2 2021 and 57.8% higher than Q3 2020.
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