Nigeria imports N13.7tn manufactured goods in nine months

Manufactured goods valued at N13.7tn were imported into Nigeria from January to September this year, data from the National Bureau of Statistics show.

The country exported N757bn worth of manufactured goods in the nine-month period, accounting for 0.06 per cent of the total trade of N14.3tn.

The value of trade in the manufacturing sector stood at N4.78tn in the first quarter of this year, representing 49.01 per cent of country’s total trade in the period, according to the NBS.

Out of N4.78tn, exports accounted for N250.4bn while the import component stood at N4.5tn.

Manufactured goods imported into the country included antibiotics, used vehicles, motorcycles, and machines for reception of voice, while goods exported from the country included vessels and other floating structures as well as aluminum alloys.

In Q2, Nigeria imported N4.3tn worth of manufactured goods and only exported N211.6bn goods, bringing the total trade in the sector to N4.5tn.

The country saw its import of manufactured goods rise to N4.9tn in Q3 and exports climbed to N295.03bn, resulting in total trade of N5.2bn

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