NBS reveals Nigeria’s export surges by 60% to N10.35tn in Q3

The NBS has stated that in the third quarter of 2023, Nigeria’s export value increased by 60.78 percent on a quarterly basis to N10.35 trillion.

This was contained in its report titled’ “Foreign Trade in Goods Statistics (Q3 2023)” which noted that overall foreign trade increased to N18.80 trillion.

“Nigeria’s total trade in the third quarter of 2023 was N18.80 trillion,” the statement stated.

“Exports were valued at N10.35tn while total imports stood at N8.46tn. Total exports increased by 60.78 per cent compared to the amount recorded in the second quarter of 2023 (N6.44tn) as well as by 74.36 per cent compared to the corresponding quarter in 2022 (N5.93tn).

“Similarly, total imports increased by 47.70 per cent compared to the value recorded in the second quarter of 2023 (N5.73tn) and by 33.33 per cent when compared to the value recorded in the corresponding quarter of 2022 (N6.34tn).”