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Research Document: NESG Foreign Trade Alert 2024 Q2


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Posted Wed, Sep 18, 2024 1:29 PM

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Trade Surplus rose to a record high, whilst External trade weakened q/q in 2024Q2 Nigeria’s external trade value rose sharply to N31.9 trillion in the second quarter of 2024 from N12.7 trillion in the corresponding period of 2023 . The increase in the value of external trade was driven by the jump in merchandise exports, which accounted for 60.8 percent of the total trade in 2024Q2. However, the external trade value in 2024Q2 fell from N33.1 trillion in 2024Q1. Cumulatively, the value of external trade stood at N65.0 trillion in the first half of 2024, significantly rising from N25.7 trillion in the corresponding period of 2023.

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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).