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Nigeria Records Favourable Trade Balance In Q2 2018 – NBS

Nigeria Records Favourable Trade Balance In Q2 2018 – NBS

According to the National Bureau of Statistics (NBS), Nigeria’s all products Terms of Trade (TOT) indices for April, May, and June 2018 stood at 100.5, 111.1 and 109.2 respectively, indicating favourable TOT for all the months of the second quarter (Q2). NBS noted that the data meant that the country used 0.5, 11.1 and 9.05 per cent less of her exports to procure the same level of imports in the months under review.

The products which contributed the most to the positive trade positions during the period were mineral products, wood and articles of wood, wood charcoal and articles, live animals; animal products, and vegetable products.

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