Nigeria’s total commerce in the fourth quarter of 2022 (Q4 2022) was N11.722 trillion, according to the National Bureau of Statistics (NBS).
According to its report titled: Foreign trade in goods statistics (Q4 2022), the country exported N6.359 trillion in goods while importing N5.36 trillion in the same time.
The document said that total trade reached N52.387 trillion on an annual basis, emphasizing that total imports were N25.5 trillion and total exports were N26.7 trillion.
NBS said: “In the fourth quarter of 2022, Nigeria’s total trade stood at N11.722.44 trillion of which total exports stood at N6.359.61 trillion and total imports amounted to N5.362.83 trillion. On an annual basis, total trade was N52.387.30 trillion, total imports amounted to N25.590.55 trillion, and total exports were recorded at N26796.75 trillion.”
According to the data, total exports grew by 7.17% and 10.28% in the fourth quarter of 2022 compared to the third quarter of 2022 (N5.934.15 trillion) and the comparable quarter of 2021 (N5.766.62 trillion), respectively.
Total imports fell by 15.46% in the fourth quarter of 2022 when compared to the value recorded in the third quarter of 2022 (N6.343.53 trillion) and by 9.73% when compared to the value recorded in the comparable quarter of 2021, according to the study (N5.940.58 trillion).