Nigeria’s foreign trade fell in the fourth quarter of 2022 due to a decline in import trade, the National Bureau of Statistics (NBS) has said.
The statistics bureau disclosed this in its Foreign Trade Goods Statistics Q4 2022 published on Thursday.
The NBS said total merchandise trade stood at N11.77 trillion in the fourth quarter of 2022, indicating a decline of 4.52 per cent over the value recorded in the third quarter of 2022.
The figure also represents a slight rise of 0.13 per cent when compared to the value recorded in the fourth quarter of 2021.
The statistical office said the export trade stood at N6.35 trillion showing an increase of 7.17 per cent over the value recorded in the preceding quarter and increased by 10.28 per cent over the preceding year’s corresponding period.
Also, it said the share of exports in total trade stood at 54.25 per cent in Q4, 2022.
On the other hand, the NBS said total imports were valued at N5.36 trillion in Q4 2022, indicating a…
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