September 6, 2018/NBS
The total value of Nigeria s merchandise trade was N6,569.98 billion in the second quarter of 2018, which was a -8.89% contraction from the figure recorded in Q1, 2018 (N7,211.12 billion) and a 14.56% growth from Q2, 2017 (N5,734.80 billion).
– The contraction of total trade in the reviewing quarter was mainly driven by the decline in both imports and exports.
– The trade balance in Q2, 2018 was a surplus of N2,356.60 billion, which is an 8.36% increase from the figure in Q1, 2018 (N2,174.60 billion) and a 399.82% increase from the figure in Q1, 2017 (N471.48 billion).