Crude oil exports contributed N14.56bn to the nation’s complete exports within the second quarter of the 12 months, making up 74.98 per cent of the entire export worth, in keeping with the Nigeria Bureau of Statistics.
The NBS, in a report titled ‘International Commerce in Items Statistics (Q2 2024)’ launched on Wednesday, said that the nation’s complete merchandise commerce for the interval stood at N31.89bn, reflecting a decline of three.76 per cent from the earlier quarter however a 150.39 per cent improve in comparison with the N12.74bn recorded within the second quarter of 2023.
Within the quarter below overview, exports accounted for 60.89 per cent of the entire commerce, amounting to N19.42bn.
This marks a 1.31 per cent over the N19.17bn recorded within the first quarter of the 12 months and a 201.76 per cent improve from the N6.44bn registered within the second quarter of the earlier 12 months.
It added that non-crude oil exports, valued at N4.86bn, represented 25.02 per cent of the entire export commerce, a contribution although nonetheless overshadowed by crude oil.
Of this quantity, non-oil merchandise contributed N1.94bn, accounting for 10.01 per cent of complete exports.
The PUNCH reviews that the entire worth of manufactured items imported into Nigeria hit N16tn between 2023 and 2024.
The worth of the manufactured items imported into the nation between April 2023 and March 2024 elevated by 60 per cent when in comparison with the worth of manufactured merchandise imported in the course of the prior interval.
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