• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, August 7, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria records N11trn total trade for Q4 2022

Trade

The Matters Press by The Matters Press
March 11, 2023
Reading Time: 2 mins read
0
Global trade’ll grow to $30tn by 2030

The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stood at N11,722.44 billion in the fourth quarter of 2022.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

This is according to the NBS Foreign Trade in Goods Statistics Report for Q4 2022 released in Abuja on Friday.

The NBS said total exports stood at N6,359.61 billion and total imports stood at N5,362.83 billion.

The report said on an annual basis, total trade was N52,387.30 billion, total imports amounted to N25,590.55 billion, and total exports were recorded at N26,796.75 billion.

It said total exports increased in Q4 2022 by 7.17 per cent and 10.28 per cent when compared to the amount recorded in Q3 2022 at N5,934.15 billion and Q4 2021 at N5,766.62 billion, respectively.

The report, however, said total imports declined by 15.46 per cent in Q4 2022 compared to the value recorded in Q3 2022 at N6,343.53 billion.

“Total imports also fell by 9.73 per cent when compared to the value recorded in the fourth quarter of 2021 at N5,940.58 billion,” it said.

The NBS said re-exports value in the quarter under review stood at N199.59 billion representing 3.14 per cent of total exports.

The report said the top five re-export destinations were Namibia, Equatorial Guinea, Cameroun, Ghana and Togo.

It said the most re-exported commodity was ‘‘Floating or submersible drilling or production platforms recorded at N142.02 billion.

“This was followed by ‘cruise ships and similar vessels for the transport of persons or goods worth 500 tonnes valued at N14.78 billion.

“Followed by this was refrigerated vessels, other than those of subheading 8901.20, of a capacity of 500 tonnes amounting to N13.16 billion.”

The report said the top five export destinations in Q4 2022 were Spain, Netherlands, India, France, and Indonesia accounting for 9.70 per cent, 9.03 per cent, 7.71 per cent, 7.70 per cent, and 7.44 per cent, respectively, of total exports.

“Altogether, exports to the top five countries amounted to 41.59 per cent of the total value of exports,” NBS stated.

It said the commodity with the largest export values in the period under review was ‘‘Petroleum oils and oils obtained from bituminous minerals, crude’ at N4,911.92 billion representing 77.24 per cent”.

“This was followed by ‘Natural gas, liquefied’ at N704.88 billion accounting for 11.08 per cent, and ,’Urea, whether or not in aqueous solution’ at N160.56 billion or 2.52 per cent of total exports.”

In terms of imports, the report said in Q4 2022, China, Belgium, India, The Netherlands and the USA were the top five countries of origin of imports to Nigeria.

It said the values of imports from the top five countries amounted to N2,993.67 billion representing a share of 55.82 per cent of the total value of imports.

“The commodities with the largest values of imported products were Motor Spirit Ordinary at N1,558.49 billion, Gas Oil at N220.47 billion, and Durum Wheat (not in seeds) at N187.96 billion.

Tags: Trade
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Tanzania bans Kenyan firm from buying avocado

Tanzania bans Kenyan firm from buying avocado

Lagos-Ibadan rail can run on electric in future

Uganda revokes $2.2bn rail contract with Chinese firm, shifts to Turkey

Recommended Stories

Siemens Power Projects gain more favour in Nigeria

Siemens Power Projects gain more favour in Nigeria

May 7, 2024
NLC to introduce detention allowance for members

Tinubu receives officials of Bank of America, stresses focus of policies

July 5, 2023
Ellah Lakes signs technical support agreement with IITA

IITA holds Brown Field Day to boost food production in Gombe

November 12, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us