Friday, June 2, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Nigeria Records ₦1.2tr Trade Surplus – NBS

by e-Naira Online News
June 8, 2022
in Business
Reading Time: 2 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


Nigeria Records ₦1.2tr Trade Surplus - NBS

The National Bureau of Statistics (NBS) revealed that in the first three months of 2022, Nigeria recorded ₦1.2 trillion of trade surplus.

NBS made this known via its recent report titled: ‘Foreign trade in goods statistics (Q1 2022)’.

A trade surplus is an economic indicator of a positive trade balance in which the exports of a nation outweigh its imports.

In the first quarter of 2022, ₦13 trillion was recorded for total trade, this figure was higher than the value recorded in the fourth quarter of 2021 (₦11.7 trillion) and the value recorded in the corresponding period of 2021, which stood at ₦7.86 trillion.

NBS said that the improvement in Nigeria’s merchandise trade was due to increases in crude oil export in the quarter under review which stood at ₦5.62 trillion showing an increase of 31.66 percent compared to ₦4.27 trillion recorded in Q4, 2021.

“Total Exports were ₦7.1 trillion of which re-exports stood at ₦115.80 billion, while total imports stood at ₦5.90 trillion,” the report reads.

“In the quarter under review, total exports increased by 23.13 percent when compared to the fourth quarter of 2021 (₦5.77 trillion) and by 137.88 percent of the value recorded in the first quarter of 2021 (₦2.98 trillion).

“On the other hand, total imports increased by 21.04 percent in the first quarter of 2022 when compared to the value recorded in the first quarter of 2021 (₦4.88 trillion) and decreased by 0.67 percent when compared to the value recorded in the preceding quarter (₦5.94 trillion).”

This resulted in a ₦1.19 trillion positive trade balance (Surplus).

Related





Source link

Tags: 12trNBsNigeriaRecordsSurplusTrade
Previous Post

Crypto Focus: Unifi Protocol DAO is up over 200% today

Next Post

Inadequate housing architecture, ventilation linked to supply, demand gap – Sekoni

Related Posts

NNPCL chief, Kyari, claims fuel subsidy ‘vanished’ in Nigeria February
Business

NNPCL chief, Kyari, claims fuel subsidy ‘vanished’ in Nigeria February

by e-Naira Online News
June 1, 2023
Nigeria’s Tax-To-GDP Ratio Is Now 10.86%
Business

Nigeria’s Tax-To-GDP Ratio Is Now 10.86%

by e-Naira Online News
June 1, 2023
Monitoring Board completes revisions to its Charter and MoU with the IFRS Foundation
Business

Monitoring Board completes revisions to its Charter and MoU with the IFRS Foundation

by e-Naira Online News
June 1, 2023
NLC expresses outrage over petrol price increase, threatens to withdraw from negotiations with FG
Business

NLC expresses outrage over petrol price increase, threatens to withdraw from negotiations with FG

by e-Naira Online News
May 31, 2023
NGX: Shareholders lose N21.1bn as investment value drops by 0.06%
Business

NGX: Shareholders lose N21.1bn as investment value drops by 0.06%

by e-Naira Online News
May 31, 2023
Next Post
Inadequate housing architecture, ventilation linked to supply, demand gap – Sekoni

Inadequate housing architecture, ventilation linked to supply, demand gap - Sekoni

First Bank investors lose over N12.7bn, as share crashes after Femi Otedola’s profit-taking

First Bank investors lose over N12.7bn, as share crashes after Femi Otedola's profit-taking

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Why new Kano Governor, Abba Yusuf is seizing public assets sold by Ganduje

Why new Kano Governor, Abba Yusuf is seizing public assets sold by Ganduje

May 30, 2023
Dollar To Naira Exchange Rate Today (Wed. May 31, 2023)

Dollar To Naira Exchange Rate Today (Wed. May 31, 2023)

May 31, 2023
NNPCL chief, Kyari, claims fuel subsidy ‘vanished’ in Nigeria February

NNPCL chief, Kyari, claims fuel subsidy ‘vanished’ in Nigeria February

June 1, 2023
Capital Market Ready To Spur Investment In Infrastructure—Yuguda

Capital Market Ready To Spur Investment In Infrastructure—Yuguda

June 1, 2023
BREAKING: CBN Denies Devaluing Naira

BREAKING: CBN Denies Devaluing Naira

June 1, 2023
Tinubu meets Kalu, Abbas in Aso Rock Villa⁣⁣

Tinubu meets Kalu, Abbas in Aso Rock Villa⁣⁣

June 1, 2023
CONOIL Plc leads NGX’s positive start to June

CONOIL Plc leads NGX’s positive start to June

June 1, 2023
Stock market rises further by 0.07%

Stock market rises further by 0.07%

June 1, 2023
Nigeria’s Tax-To-GDP Ratio Is Now 10.86%

Nigeria’s Tax-To-GDP Ratio Is Now 10.86%

June 1, 2023
Monitoring Board completes revisions to its Charter and MoU with the IFRS Foundation

Monitoring Board completes revisions to its Charter and MoU with the IFRS Foundation

June 1, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.