The National Bureau of Statistics, NBS, has said Nigeria’s total merchandise trade stood at N11,722.44 billion in the fourth quarter of 2022.
NBS Foreign Trade in Goods Statistics Report for Q4 2022 disclosed this in Abuja on Friday.
The NBS said total exports stood at N6,359.61 billion, and total imports stood at N5,362.83 billion.
The report said on an annual basis, total trade was N52,387.30 billion, total imports amounted to N25,590.55 billion, and total exports were recorded at N26,796.75 billion.
It said total exports increased in Q4 2022 by 7.17 per cent and 10.28 per cent compared to the amount recorded in Q3 2022 at N5,934.15 billion and Q4 2021 at N5,766.62 billion, respectively.
The report, however, said total imports declined by 15.46 per cent in Q4 2022 compared to the value recorded in Q3 2022 at N6,343.53 billion.
” Total imports also fell by 9.73 per cent when compared to the value recorded in the fourth quarter of 2021 at N5,940.58 billion,” it said.
The NBS said re-exports value in the quarter under review stood at N199.59 billion representing 3.14 per cent of total exports.