Ayomide Samson
The National Bureau of Statistics (NBS) has said that Nigeria’s total trade rose 23.28 percent higher in Q2, 2021 compared to Q1,2021 and 88.71 percent higher than the value recorded in Q2, 2020.
This is according to a document made available by NBS at the weekend.
The value of energy goods imports decreased by 94.6 percent in Q2, 2021 against the level recorded in Q1, 2021 and 88.7 percent compared to the corresponding quarter of 2020.
NBS also noted that the value of imported manufactured goods decreased by 5.1 per cent in Q2, 2021 against the value recorded in Q1, 2021 but increased 54.3 per cent compared to Q2, 2020.
It stated also that the value of raw material imports, increased by 25.6 percent in Q2,2021 compared to Q1, 2021 and 47.3 percent compared to Q2, 2020 while imported agricultural products were 3.5 percent more in Q2,2021 than in Q1,2021 and 56.9 per cent more compared to Q2, 2020.
“The value of raw material imports increased by 25.6 percent in Q2,2021 compared to Q1, 2021, and 47.3 percent compared to Q2, 2020.
“Imported agricultural products were 3.5 per cent more in Q2, 2021 than in Q1,2021 and 56.9 per cent more compared to Q2, 2020.
“The value of total imports rose by 1.45 percent in Q2, 2021 compared to Q1,2021 and 67.49 percent compared to Q2,2020” the agency said.
The value of total exports in Q2, 2021 increased by 74.72 percent against the level recorded in Q1, 2021 and 128.29 percent compared to Q2,2020. (This increase resulted mainly from the increase in export value of crude oil in Q2, 2021).