From Isaac Anumihe, Abuja
Among the five major Nigeria’s trading partners, exports to India in Quarter 4 2021 remains the highest with 15.2 per cent (N874.9 billion) of total exports.
In a statement obtained from the National Bureau of Statistics (NBS), the largest exported commodity to India was petroleum oils and oils obtained from bituminous minerals crude (N774.5 billion). This was followed by natural gas liquefied (N89.8 billion) and liquefied petroleum gas (cooking gas) (N6.7 billion).
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On the other hand, Nigeria imported goods from India worth N430.4 billion, of which, kerosene-type jet fuel ranked highest with a value at N40.1 billion. This was followed by imported motorcycles and cycles, imported completely knocked down (CKD) by established manufacturers (N39.9 billion), other anti-malaria (N20.4billion), vehicles, with petrol fuel engine, of cylinder capacity=<1,000 cc, presented CKD (N20.0 billion) were imported from India during the period under review.
After India, exports to Spain ranked second during the fourth quarter of 2021, valued at N789.2 billion
representing 13.7 per cent of total exports. The largest exported commodity to Spain was petroleum oils and oils obtained from bituminous minerals, crude (624.0 billion). This was followed by natural gas, liquefied (N159.8 billion), leather further prepared after tanning/crusting (N1.7 billion) and others.
However, on the other hand, goods imported amounted to N68.2 billion showing “mixed alkylbenzenes and mixed alkyl naphthalenes, valued at N13.2 billion was the highest traded commodity during the period under review, followed by motor spirit ordinary valued at N13.0 billion, gas oil valued at N8.0 billion, gypsum; anhydrite whether or not coloured, with/without small quantities of accelerators (N7.9 billion) and others were imported from Spain.
In Q4 2021, Nigeria’s export trade with the Netherlands was valued at N425.9 billion accounting
for 7.4 per cent of total export.
‘Major commodities exported during the period were petroleum oils and oils obtained from bituminous minerals, crude (N383.6 billion), good fermented Nigerian cocoa beans (N25.2 billion) and superior quality raw cocoa beans (N8.8 billion).
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However, import to The Netherlands was valued at N416.5 billion during the period under review. The main commodities imported were motor spirit ordinary worth N353.3 billion, herrings (clupea harengus, clupea pallasii) (N6.2 billion) and kerosene-type jet fuel (N6.2 billion),’ NBS said.
Netherlands was followed by France whose value of Nigeria’s exports was put at N485.4 billion indicating 8.4 per cent of total exports in the fourth quarter of 2021.
This was largely dominated by exports of petroleum oils and oils obtained from bituminous minerals, crude (N473.8 billion), oil-cake and other solid residues resulting from the extraction of soya beans (N8.4 billion), cocoa butter, fat and oil (N1.0 billion) and others. On the other hand, the value of imports from France stood at N137.0 billion. The largest import commodity from France was ‘motor spirits (N73.8 billion), malt, not roasted (N3.1 billion), other anti-malaria (N2.8 billion) and others.’
However, China remains a major trading partner of Nigeria. In Quarter 4, 2021, Nigeria’s export
trade to China amounted to N244.2 billion (4.2 per cent). The exported products were petroleum
oils and oils obtained from bituminous minerals, crude valued at N92.8 billion, natural gas
This was followed by propane, liquefied which was valued at N21.0 billion, and others.
In terms of imports from China, goods worth N1,652.7 billion were imported from China during the
period under review. Top-ranked was ‘rolled iron/steel, width>=600mm, other painted, varnished or coated with plastics)’ ranked first with a value of N 88.2 billion. This was followed by machines for the reception, conversion and transmission or regeneration of voice, images and other instruments; appliances and machines for measuring or checking voice, image valued at N59.2 billion and N 54.6 billion, respectively.