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Research Document: NESG Q2’2020 Foreign Trade Alert, September 2020


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Posted Mon, Sep 21, 2020 12:46 PM

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The value of Nigeria’s external trade fell by 27.9% to N6.2 trillion in Q2’2020 from N8.6 trillion in the corresponding period of 2019 (Q2’2019). This represents the largest decline in Nigeria’s external trade in recent years. Similarly, on a quarterly basis, the external trade for Q2’2020 represented a 27.9% decline when compared with its level in Q1’2020 (N8.6 trillion). This could be attributed to the coronavirus-induced lockdown restrictions and international travel bans implemented in the second quarter of 2020. In the first half of 2020, the value of external trade stood at N14.8 trillion, 11.9% below its level in the corresponding period of 2019 (N16.8 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).