The recent report published by the National Bureau of Statistics revealed that Nigeria’s Total trade in the third quarter of 2023 stood at N18.804 trillion.
Exports were valued at N10.346 trillion while total imports stood at N8.457 trillion. Total exports increased by 60.78% compared to the amount recorded in the second quarter of 2023 (N6.435 trillion) as well as by 74.36% compared to the corresponding quarter in 2022 (N5.934 trillion).
Similarly, total imports increased by 47.70% compared to the value recorded in the second quarter of 2023 (N5.726 trillion) and by 33.33% when compared to the value recorded in the corresponding quarter of 2022 (N6.343 trillion).