Nigeria ranked in N7.01 trillion in exports in the second quarter of 2023, with Netherlands, USA, Indonesia, France, and Spain making the top five export destinations.
A breakdown of the National Bureau of Statistics (NBS) report revealed that total exports amounted to N7.01 trillion, surpassing the N6.48 trillion reported in the first quarter of this year by an 8.15 percent increase.
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However, on a year-on-year basis, export trades depreciated by 5.20 percent compared to N7.4 trillion recorded in the same period in 2022.
According to the NBS data, the major goods exported to these five countries are Petroleum oils and oils obtained from bituminous minerals, crude worth N5,586.29 billion.
Other goods that left Nigeria for international markets are Natural gas, liquefied, valued at N639.37 billion and Urea, whether or not in aqueous solution contributed N81.21 billion to the export list.
The Netherlands imported N788.85 billion worth of goods from Nigeria in Q2 2023.
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The United States imported N718.63 billion, Indonesia accounted for N550.18 billion, France received N540.73 billion worth of goods and Spain contributed N504.45 billion.
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