Figures from the National Bureau of Statistics (NBS ) has revealed that Nigeria’s total export to five major countries totalled N2.28tn in the last quarter of 2018.
According to the data obtained from the NBS, Nigeria’s exports to Spain and China were N569.4bn and N113.3bn, while the figures for The Netherland, France and India were N328.7bn, N494.9bn and N780.1bn respectively.
India tops the list of Nigeria’s export market in Q4 2018, representing 15.5 per cent (N780.1bn) of total exports. Crude oil account for the highest export commodity to India (N730.3bn), followed by natural liquified gas(N39.1bn), sesamum seed (N4.1bn), cashew nuts (N2.0bn) and others.
Also, Nigeria imported live purebred horses (N66.5bn), live horses (N9.3bn), primates (N6.8bn) and other live mammals (N6.6bnn) from India during the period under review.
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In the case of Spain, Nigeria’s export was valued at N569.4bn, making it the second largest export market for Nigeria in Q4 2018. Crude oil was the nation’s major export during the period under review, valued at N471.6bn.
Other goods exported to Spain include natural gas liquified valued at N93.1bn, leather prepared after tanning (goat) (N2.1bn) and others.
On the import index, live purebred breeding horses valued at N295.2bn, live horses other than purebred valued at N285.9bn, primates valued at N283.4 bn and other live mammals valued at N270.2bn were imported from Spain.
Also, in Q4 2018, Nigeria’s export trade with China was dominated by natural gas liquified which amounted to N63.4bn in value, followed by crude oil (N23.5bn), sesamum seed(N13.7bn), propane, liquified (N8.0bn) and butane, liquefied (N4.7bn).
In return, machines for reception of voice, motorcycles, machine tools for working stones, Amorphous PET chips and machines for cleaning seeds worth N35.6bn, N19.9bn, N18.9bn, N15.6bn and N14.2bn respectively were imported from China.
For France, Nigeria exported N432.2bn worth of crude oil to the European country in Q4 2018. Other major export commodities include Natural Gas Liquified valued at N62.1bn and technically-specified natural rubber valued at N0.6bn.