Tags : trade deficit

Nigeria’s Q1 trade deficit rose by 175%

According to data from the Central Bank of Nigeria, the value of Nigeria’s international trade deficit rose by 175.13 percent from $152.94 million in January 2022 to $420.79 million in March 2022. The International Trade Summary on the CBN’s website shows that the total value of international trade was $28.77bn in Q1 2022. Imports stood […]Read More

Nigeria’s Revenue Falls By 52% In August

The Central Bank of Nigeria said in its economic report the Federal Government recorded a fiscal deficit of N405.28bn in August with aggregate expenditure of N781.61bn while retained revenue stood at N376.33bn. The report said independent revenue fell by 52.2 per cent in August which led to a 10.4 percent decline in the government’s retained […]Read More

Nigeria’s Trade Deficit In Q3’21 To N3trn

Nigeria recorded a trade deficit of N3.023 trillion with her trading partners worldwide in the third quarter of 2021, Q3’2021. This is coming even as total merchandise trade stood at N13.284 trillion during the period. The Statistician General and Chief Executive Officer, National Bureau of Statistics, NBS, Dr Simon Harry, noted that the total trade […]Read More

Nigeria’s Trade Deficit Falls By 61%

The Central Bank of Nigeria has disclosed in its Monthly Economic Report for July 2021 that the nation’s trade deficit fell year-on-year by 61 per cent to $340 million in July 2021 from $880 million in July  2020. However, receipts from crude oil and gas exports rose by 127 percent to $3.99 billion in October […]Read More

Nigeria Records N1.8 trn Trade Deficit In Q2’21

The National Bureau of Statistics has said that Nigeria recorded a trade deficit of N1.8 trillion in the second quarter of the year. This is coming despite the foreign trade rose by 23 percent to N12 trillion from N9.8 trillion in Q1’21. The bureau disclosed this in its Foreign Trade in Goods Statistics Report for […]Read More

Nigeria Foreign Trade Drops

Nigeria’s total foreign trade for 2020 dropped by 10.32 percent – a 32.42 trillion naira according to a report by the National Bureau of Statistics. During this period, Nigeria’s export stood at 12.52 trillion naira while imports amounte d to 19.9 trillion naira. This means that the country  imported more goods and services than it […]Read More

The US Records 1.9% Rise In Trade Deficit Despite Trade

The Biden’s administration has recorded a commendable win as new reports details the record-breaking rise in goods importation in January that pushed the trade deficit 1.9 percent higher despite Covid-19. The gap between imported goods and exported goods rose to $68.2bn from $67bn in December, the US Department of Commerce reported Friday. Exports rose 1 […]Read More