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Research Document: NESG 2021 Foreign Trade Alert, March 2022


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Posted Wed, Mar 16, 2022 6:13 PM

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External Trade in Goods rose more than 50% in 2021, as the COVID-19 effect subsides

Nigeria’s external trade value increased sharply by 57.9% to N39.8 trillion in 2021 from N25.2 trillion in 2020. It also reflects an improvement in the value of external trade when compared with 2019 (N36.2 trillion) – a year before the global outbreak of the COVID-19 pandemic. On a quarterly basis, the value of external trade rose consistently across the four quarters of 2021 (see Figure 1). This suggests that the year 2021 witnessed a pick-up in trading activities across countries amid the waning effect of the pandemic.

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All text, graphics, audio files, code, downloadable material, and other works on this web site are the copyrighted works of the Nigerian Economic Summit Group (NESG).