Nigeria has trade balance deficit of N1.41trn in Q4 of 2023 – NBS.

The National Bureau of Statistics (NBS) has said that a total export worth N12.69 Trillion was processed in the fourth quarter of 2023.

It added that import within the same period was estimated at 14.12 Trillion

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Bureau stated that trade balance within the period under review stood at N1.42 Trillion

The figure according to the agency, portends deficit for the country.

It added that the total trade stood at N26.80 Trillion..

“Imports exceed exports as Nigeria’s trade deficit hit N1.41trn in Q4 2023

“Total Exports: N12.69trn
Total Imports: N14.11trn
Trade balance: N-1.41trn (DEFICIT)

“Total trade stood at N26.80 trillion.”

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