Nigeria Merchandise Trade grew marginally in Q1, 2019:
Total Trade: Total trade grew by 2.50% in Q1,2019 compared to Q4,2018, and 7.52% relative to the corresponding quarter in 2018
Imports
The value of total imports rose 3.39% in Q1 2019 compared to Q4 2018, and by 25.84% over the corresponding quarter of 2018.
Imported Agricultural products were 7.98% higher in value than in Q4 2018, and 28.1% higher than in Q1, 2018.
The value of Raw material imports grew 6.62% more than the value recorded in Q4, 2018 and 20.76% more than the value recorded in Q1 2018.
The value of Solid minerals imports was 1.26% more than the value of imports in Q4, 2018 and 35.90% higher than the value recorded in Q1 2018.
The value of Energy goods imports was 20.28% lower than in Q4,2018. Compared with the corresponding quarter of 2018, a decrease of 0.94% was recorded.
The value of imported Manufactured goods increased by 25.81% in Q1,2019 against the value recorded in Q4, 2018 and rose by 130.7% against its value in Q1, 2018. The increase in value of imported manufactured goods was partly as a result of the importation of hygienic/ pharmaceutical product for humanitarian purposes during the quarter.
The value of Other oil products imported was 58.4% lower than in Q4, 2018 and 72.71% lower than the corresponding quarter of 2018.
Exports
The value of total exports in Q1, 2019 increased by 1.78% against the level recorded in Q4, 2018 but decreased by 3.90% against its value in Q1, 2018.
In Q1 2019 the value of agricultural exports was 11.89% lower than in Q4, 2018 but 17.5% higher than Q1 2018.
The value of raw material exports in Q1,2019 was 10.67% lower than the value in Q4,2018 but 11.57% higher than in Q1 2018.
The value of Solid minerals exports increased by 16.88% relative to Q4 2018 but decreased by 66.6% compared to the corresponding quarter in 2018.
The exports of Energy goods decreased in value by 1.3% compared to Q4,2018 but increased by 2.17% when compared with Q1 2018.
The value of Manufactured goods exports rose by 511.19% in Q1 2019 when compared with the value recorded in Q4 2018 and 6.43% compared to the corresponding quarter in 2018. The increase in export during the quarter was due to the re-export of Vessels and other floating structures during the quarter, amongst other high value re-exports.
The value of Crude oil exports in Q1 2019 was 7.78% lower than in Q4 2018 and 5.67% lower than in Q1 2018.
The value of Other oil products exports decreased by 1.42% compared to Q4 2018, and 1.44% compared to Q1 2018.
