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Research Document: NESG Foreign Trade Alert 2024 Q3


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Posted Tue, Dec 10, 2024 1:49 PM

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The external trade value stood at N35.2 trillion in 2024Q3, rising from N19.4 trillion in 2023Q3. This was driven by exports outpacing imports, resulting in a trade surplus of N5.8 trillion in 2024Q3 - a significant improvement relative to a trade surplus of N1.3 trillion and N4.0 trillion recorded in 2023Q3 and 2024Q2, respectively. Similarly, the total value of goods exported almost doubled from N10.3 trillion in 2023Q3 to N20.5 trillion in 2024Q3, attributable to the significant increase in oil exports (at N18.0 trillion in 2024Q3) and non-oil exports (N2.5 trillion). 

 

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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).