Nigeria has recorded a total trade deficit of N138.98 billion between January and March 2020 according to figures from the National Bureau of Statistics (NBS) on Tuesday morning. This was a total foreign trade value in quarter one of 2010 surpassed that of the comparative period of 2019 by 0.80 per cent. However, the N8.3 trillion total foreign trade value at the end of March 2020 was 17.94 per cent lower than the value recorded in the last quarter of 2019. Import component of this trade stood at N4,221.9billion or 50.8 per cent while the export component totalled N4,082.9 billion indicating 49.2 percent of the total trade. Non-crude oil exports were valued at N1,138.3billion representing 27.9 per cent of total exports during the period under review.

Source: Nigerian Tribune June 09, 2020 11:37 UTC