India has remained the top destination for exportation of Nigerian goods in the second quarter of 2022 with goods worth over N1 trillion bought, a report by the National Bureau of Statistics (NBS) has stated.
The report which was released on Thursday said Nigeria on the other imported goods worth N459bn.
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It stated Nigeria’s trade export to India amounted to 14.8% of total exports and the largest exported commodity to India was “Petroleum oils and oils obtained from bituminous minerals, crude’’ (N1.008trn).
“This was followed by liquefied natural gas valued at N48.39bn and ‘cashew nuts in shell’ valued at N18.50bn.
On the other hand, imported Kerosene (jet fuel) ranked highest with a value of N56bn, followed by motorcycles and cycles fitted with auxiliary motor, petrol fuel, valued at N31.98bn, gas oil N31.22bn, Other medicaments not specified, N26.02bn in the period.”
The report said Spain ranked second largest export destination for Nigeria with a total goods worth N1.03trn representing 14.0 per cent.
“Petroleum oils and oils obtained from bituminous minerals was the highest with N854bn). This was followed by Natural gas, liquefied valued at N169bn, Leather further prepared after tanning or crusting, N3.99bn.
On the import side, imports from Spain was valued at N51.62bn, of which the highest traded commodity during the period was “Mixed alkylbenzenes and mixed alkylnaphthalenes, valued at N15.38b; Gypsum; anhydrite valued at N7.08bn, Sodium carbonate N2.66bn and others.
Netherlands was the next with exports valued at N914.46bn accounting for 12.3 per cent of total exports with exports including petroleum oils and oils obtained from bituminous minerals, crude at N886.3bn, natural gas at N10.63bn and superior quality cocoa beans N8.30bn.
For imports, Nigeria purchased goods valued at N431.02bn during the period and the main commodities imported were Motor spirit worth N263.38bn, Gas valued at N106.69bn and blue whitings and meat which are frozen N7.31bn).
Indonesia was fourth on the list with goods valued at N625.65bn but the value of imports from Indonesia stood at N38.68n.
The United States of America also made the list of the top five countries with export trade of N661.2bn accounting for 8.9% of total exports while imports were valued at N362.9billion.
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