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Research Document: NESG 2021 Q2 Foreign Trade Alert, October 2021


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Posted Tue, Oct 5, 2021 2:54 AM

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Nigeria’s External Trade for 2021Q2 improved on less stringent COVID-19 restrictions, amid new variants
Nigeria’s external trade value rose sharply by 88.7% (year-on-year) to N12 trillion in the second quarter of 2021 from N6.4 trillion in 2020Q2. Cumulatively, the value of external trade stood at N21.8 trillion in the first half of 2021, 46.3% higher than its level (N14.9 trillion) in the corresponding period of 2020. Similarly, the external trade value in Q2’2021 was over one-fifth higher than Q1’2021 value (N9.8 trillion) (see Figure 1). The rapid improvement in the country’s external trade value could be largely attributed to the relaxation of pandemic-induced restrictions, amidst persistent spread of the Delta variant of COVID-19.

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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).