Nike PopoolaNigeria recorded a trade deficit of N138.98bn in the first quarter of 2020, the National Bureau of Statistics has said. The NBS disclosed this in its Foreign Trade in Goods Statistics report for Q1 2020, which was released on Tuesday. This was 17.94 per cent lower than the value recorded in Q4 2019 but 0.80 per cent higher than the value recorded in Q1 2019,” it said. “A trade deficit of N138.98bn was recorded during the quarter, marking two consecutive quarters of negative balance of trade, as the value of imports surpassed exports,” the NBS said. When compared with the preceding quarter, the deficit in Q1 2020 was higher by 76 per cent.

Source: Punch June 09, 2020 22:52 UTC