The All- commodity group import index on average grew marginally by 1.07 per cent, driven mainly by products of the chemical and allied industries, wood and articles of wood, wood charcoal and articles, paper making material; paper and paperboard in the second quarter. The National Bureau of Statistics disclosed this in its report titled ‘Commodity price indices and terms of trade (Q2 2021)’ on Wednesday. The All- region group export index increased by 0.72 per cent mainly due to marginal increases in export prices to all regions with the exception of America. It added that the All- region group import index rose by 1.07 per cent due to increases in import prices across all regions. The major export and import market of Nigeria in Q2, 2021 were India, Spain, Canada, Netherlands and China.

Source: Punch September 22, 2021 23:18 UTC