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Nigeria Records N1.2tr Surplus As Foreign Trade Hits N52.38tr In 2022

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The National Bureau of Statistics has disclosed that trade transactions between Nigeria and other countries in 2022 is estimated to be N52.38 trillion.

In a report titled ‘Foreign Trade in Goods Statistics’ NBS stated that total imports amounted to N25.59tr while exports N26.79tr.This indicated that the country recorded a N1.2tr trade surplus as more Nigerian products were purchased in the international community.

The report added that in the fourth quarter of 2022, Nigeria’s total trade stood at N11.72tr from which total exports stood at N6.35tr while total imports were N5.36trn.

Total exports increased in the fourth quarter by 7.17 percent and 10.28 percent when compared to the amount recorded in the third quarter of 2022 (N5.93tr) and the corresponding quarter in 2021 (N5.76trn) respectively.”

Daily Trust

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