Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,205,003 members, 7,990,764 topics. Date: Friday, 01 November 2024 at 12:01 AM

Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS (8879 Views)

Nigeria’s Capital Importation Grows By 594% / MTN Grows Data Revenue By 73% / UBA's Nine Months Profit Grows By 33% To N78 Billion (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by sarrki(m): 3:55am On Sep 07, 2016
The National Bureau of Statistics (NBS) said yesterday that Nigeria’s total value of merchandise trade grew by 49 per cent in the second quarter of 2016.
The NBS stated in “Foreign Trade Statistics for Second Quarter, 2016’’ issued in Abuja that trade deficit had reduced with rising exports value.

It stated that the total value of Nigeria’s merchandise trade in second quarter was ₦3,942.0 billion.
“This was 49.0 per cent more than the value of ₦2,645.5 billion recorded in the preceding quarter.  This development arose from a rise of ₦725.6 billion or 63.3 per cent, in the value of exports (largely due to exchange rate gains). It is combined with a rise of ₦570.8 billion or 38.1 per cent, in the value of imports against the levels recorded in the preceding quarter.’’
The bureau said the current trade position brought the country’s negative trade balance to - ₦196.5 billion during the period under review.  It said it showed a ₦154.8 billion reduction in the country’s trade deficit over the previous quarter.
Under imports Classified by Standard International Trade Classification and Country of Origin, the bureau said that there was an increase in import value. 
“Nigeria’s import trade stood at ₦2,069.2 billion at the end of second quarter, showing an increase of 38 per cent from the value ₦1,498.4 billion recorded in the preceding quarter.
“As with exports, the increase in import value can be traced to a decline in the value of the naira.  The structure of Nigeria’s import trade by section was dominated by the imports of “Boilers, machinery and appliances; parts thereof” These accounted for 34.9 per cent of the total value of import trade in the quarter,’’ it said. 
Meanwhile, the bureau said that Exports Classified by Standard International Trade Classification and Country of Destination also showed increase in value. 
“The value of the export trade, totalled ₦1,872.7 billion in second quarter, showing an increase of ₦725.6 billion or 63.3 per cent, over the value recorded in the preceding quarter.  The improvement in export value is largely due to the depreciation in the value of the naira. The structure of the export trade is still dominated by crude oil exports, which contributed ₦1,493.2 billion or 79.7 per cent to the value of total domestic export trade in 2016,’’ it said. (N
Read more at http://www.dailytrust.com.ng/news/general/nigeria-s-merchandise-trade-grows-by-49-in-2nd-quarter-nbs/161706.html#1gUX6xSwKh8HPdrR.99

2 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by HungerBAD: 4:04am On Sep 07, 2016
Good.

8 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by sarrki(m): 4:08am On Sep 07, 2016
I strongly believe we will get out of this mess

35 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Standing5(m): 4:09am On Sep 07, 2016
More export less import. That's how to break free from the oil dollar spell.

33 Likes 2 Shares

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by kahal29: 4:48am On Sep 07, 2016
More Good news on the way

15 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by ificatchmodeh: 5:10am On Sep 07, 2016
Good one..
Though sound like one day on..two days oFf..

4 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by herzern(m): 6:39am On Sep 07, 2016
To God Be The Glory....

9 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by clydedaniels(m): 6:41am On Sep 07, 2016
Izit my Ibo brothers wey export themselves to Canada wey read as export commodity....

because am not understanding... undecided

2 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by chefremy(m): 6:42am On Sep 07, 2016
i want to be hearing a good news from this country,and i don't think is too much to ask for.Good one,thumbs up.

16 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Nairadays: 6:43am On Sep 07, 2016
Light go still shine through gross darkness.

10 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Nobody: 6:43am On Sep 07, 2016
All is going to be well again, at least in 100 years from now, check my signature to enjoy the LATEST FREE, coca cola approved REGISTER AND PLACE YOUR ORDER WHILE STOCK LAST
Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by hucienda: 6:43am On Sep 07, 2016
Finally.

Some good news.

3 Likes 2 Shares

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by raphealolami(m): 6:44am On Sep 07, 2016
Hallelujah!! If this is really true.

4 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Nobody: 6:44am On Sep 07, 2016
We will get there

2 Likes 2 Shares

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by stepup2know: 6:44am On Sep 07, 2016
LET'S FORGET CELEBRITY GOSSIPS, REACTS POLITICAL
CRISES AND ALL WORTH NOT. ICT IS "TAKING THE WORLD "
AND WE BARELY HAVE PROGRAMMERS THAT CAN CODE
FROM SCRATCH TO MAKE LIVING OUT OF IT. WEATHER YOU ARE A COMPUTER SCIENCE STUDENT OR NOT WE CAN TEACH
YOU HOW TO MAKE LIFE SUCCESSFUL WITH CODING FOR
FREE 100%. WE EVEN DISCOVERED THAT NON COMPUTER
SCIENCE STUDENTS PERFORM BETTER IN THE FIELD OF ICT .
LOVERS OF I.C.T "WORLD" JUST DROP YOUR WHATSAPP
CONTACT ON THE PROGRAMMING CODE BELOW BY TYPING "HELLO GABRIEL".
$checker_Check.println("Hello..." ;
if(isset($_POST['myidentity'])){
$identity= $_POST['Anidiegwu_Nonso_Gabriel'];
if($lastname == "Anidiegwu" && $middlename == "Nonso" &&
$firstname == "Gabriel" && $emailaddress ==
"stepup2know@aol.com" ){
print = "identity_Authentic";
}
else if{
$getArrays = mysql_fetch_assoc($phoneno);
$phoneno=$_POST['+234-706-548-65-08'];
echo $phoneno;
}
else{
(Anidiegwu_Gabriel.worked.At('cisco_computers');
('eastend_computers');('L&L_computers');
('negycom_computers');('map_computers');
('24gig_computers');('satalink_computers');
('bookingfrica_computers');
(Anidiegwu_Gabriel.Is('highly dedication with programming
languages');
}
function myfunction()
{
document.getElementById("programmer" ;
}
$appreciation =mysql_real_escape_string ($_POST
['Thanks_to_God']);
include ("everybody" ;
$message = "I love you all";
$_SESSION['season_and_out_of_season'] = $getArrays
['message'];
echo $identity= $_POST['Anidiegwu_Nonso_Gabriel'];
echo $message;
}

2 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by noida: 6:45am On Sep 07, 2016
grin
Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Pebcak: 6:46am On Sep 07, 2016
cool

1 Like

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by princechiemekam(m): 6:46am On Sep 07, 2016
I no trust this people!!! Maybe Buhari don warn d Oga say if him tell Nigerians the truth again na 2 sack am b d next option. ... Just read and pass oo

14 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Jaymaxxy(m): 6:47am On Sep 07, 2016
The wailers won't believe NBS on this.

9 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by adioolayi(m): 6:47am On Sep 07, 2016
Maybe we are at a turning point...More of non-oil exports and less import will do...God bless Nigeria

1 Like

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Nobody: 6:47am On Sep 07, 2016
Nairalanders and non comprehension are
like 5 and 6. Educated but illiterates.
Let me summarise what is up there for
you.
You use to go to the market and prepare
ogbono soup for 10 servings with
1thousand naira. But now you cook the
same ogbono soup for the same
10servings for 2thousand naira cos the
naira has no value again.
Your money expenditure (merchandise
trade)has increased drastically but the
merchandise(ogbono soup) is still the
same.
HOW IS THAT A GOOD THING that you lots
above me are celebrating about. Kai. Smh.

Finally I found someone that can read and understand..
Others above and below me u just failed the test..

4 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by VhatAmazingDude: 6:47am On Sep 07, 2016
Ahh.. Some cold water in the scorching sun.

It was expected though.

'When the wanted is not available, the available becomes the wanted.'

Keep it up. But mind you, the country is still in recession. The GDP is still falling.

No one is asking the government to print more money. Rather, create an enabling environment for business to thrive.

2 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Pavore9: 6:47am On Sep 07, 2016
[quote author=Standing5 post=49140090]More export less import. That's how to break free from the oil dollar spell.[/quote

You captured my thought. We need to more productive and less on import based consumption.
Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Jaymaxxy(m): 6:48am On Sep 07, 2016
princechiemekam:
I no trust this people!!! Maybe Buhari don warn d Oga say if him tell Nigerians the truth again na 2 sack am b d next option. ... Just read and pass oo

But you trust them when they said the economy is in recession?

15 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Earth2Metahuman: 6:48am On Sep 07, 2016
interesting


watch how they will shout lies, propanganda.

but when the same NBC said 4.5million job loss, it's all truth and not propaganda..

bad news lovers. grin

7 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Nobody: 6:49am On Sep 07, 2016
The improvement in export value is largely due to the depreciation in the value of the naira.(largely due to exchange rate gains)
hmmmm, Let me keep quiet before they say i am a wailer.... Those two statement above should not be disregarded.

4 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by KINGwax007(m): 6:50am On Sep 07, 2016
No matter what, I still stand with buhari..

Little by little, we will reduce our import dependencies.
Good news for me, bad news for wailers..

Buhari is just doing what shld av been done..

We get rubber trees, we dey export rubber for our industries

We get timber, we dey import toothpick and pencils

Raw materials for slippers, we dey import am

Texiles too na import

Paper na import things

Wailers are shameless, walahi..

Peace out

4 Likes

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by Bom4Real: 6:51am On Sep 07, 2016
Please the ministry of Foreign Affairs and Ministry of Trade should note that Benin Republic is disturbing our Exports,they seize our Nigerian products that its an order from their President,please we need serious help from the Ministries
Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by cyberdurable(m): 6:51am On Sep 07, 2016
I av lost faith in Nigeria dazzol

1 Like

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by emerged01(m): 6:52am On Sep 07, 2016
princechiemekam:
I no trust this people!!! Maybe Buhari don warn d Oga say if him tell Nigerians the truth again na 2 sack am b d next option. ... Just read and pass oo

So you can only believe bad news? Most people don't even wish good for the country they are living in

12 Likes 1 Share

Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by admax(m): 6:52am On Sep 07, 2016
Good news!

Spot on @Poster above
Re: Nigeria’s Merchandise Trade Grows By 49 % In 2nd Quarter – NBS by alsudaes1(m): 6:53am On Sep 07, 2016
God-Willing

kahal29:
More Good news on the way

(1) (2) (3) (Reply)

See The New Motto Of FCMB: I Can't Laugh Alone O / Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) / Cement Price Drops

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 40
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.