Monday, March 4, 2019
(BUSINESS) Nigeria’s Trade Surplus N1.44 Trillion In Fourth Quarter Of 2018
Nigeria recorded a favourable trade balance of N1.44 trillion in the fourth quarter of 2018, being 125.5 per cent higher than the record of the third quarter of the year. The Foreign Trade in Goods Report released by the National Bureau of Statistics (NBS), yesterday, showed that during the fourth quarter of 2018, Nigeria’s total merchandise trade stood at N8.61 trillion, down from N9.11 trillion recorded in the third quarter by N460.96 billion or 5.1 per cent.
Analysis showed that the total export component of this trade was recorded at N5.02 trillion, representing an increase of 3.5 per cent over the third quarter of the same year and 28.5 per cent over the corresponding quarter of 2017.