Nigeria imports decreased in Q3 2019 — NBS

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68
GDP
Nigerian Bureau of Statistics

The National Bureau of Statistics (NBS), said on Friday that total imports into the country in the third quarter of 2019 decreased by 2.70 per cent, while exports of other oil products rose by 6.14 per cent.

The Bureau stated this in a report released in Abuja on Friday.

Specifically, NBS said the value of the percentage of imports decreased by 2.70 per cent compared to the second quarter in the year with a total rise by 8.20 per cent.

It said the value of imported agricultural products was 4.01 per cent lower than in the second quarter which was 5.79 per cent.

Similarly, the NBS said the value of raw material imports decreased by 4.64 per cent in the third quarter of the year.

The Bureau added that the value of solid mineral imports was 31.73 per cent lower than the value of the second quarter of 2019 but 7.05 per cent higher than the value recorded in the third quarter of 2018.

It, however, disclosed that the value of energy goods imports increased by 243.92 per cent in the same period.

The NBS explained that the 286.91 percent increase in energy goods imports was relative to the third quarter of 2018 due to the increased import of other wood charcoal, electrical energy and charcoal of bamboo.