September 13, 2019/Cowry Asset
Freshly published merchandize trade report by National Bureau of Statistics (NBS) showed that Nigeria’s foreign sector merchandise trade value rose year-on-year (y-o-y) by 15.43% to N16.84 trillion in H1 2019.
However, merchandise trade surplus declined by 63.14% to N1.42 trillion in H1 2019 given the total exports which fell y-o-y by 0.99% to N9.13 trillion, as value of crude oil exports fell y-o-y by 0.50% to N7.31 trillion, and total imports which surged y-o-y by 43.63% to N7.71 trillion.
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