In the second quarter of 2021, Nigeria recorded a trade
deficit of N1.87trillion, according to the National Bureau
of Statistics (NBS).
The buraeu stated this in its “Foreign Trade Statistics – Q2 2022,” data made
at the weekend.
The Bureau added that in the period under review, while
Nigeria spent N6.95trillion on imports, it also recorded
exports N5.08trillion.
In other words, imports exceeded exports by
N1.87trillion, which is the deficit
The Nation gathered that the transaction resulted in a total trade of N12.03
trillion in second quarter.
NBS said the transaction was 23.28% more than last
quarter Q1 2021 and 88.71% more than the same
quarter in 2020.
In the period under review, document reflected that
Nigeria recorded N4.08 trillion crude oil exports and
N1.00 trillion non-crude oil exports.