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Nigerian Imports Twice as Much From Asia as From the US

Total exports increase by N90.8bn in Q2 2013, imports decrease.

The National Bureau of Statistics recently released trade statistics for Q2 2013 which showed that exports increased in Nigeria whereas imports decreased. The NBS said that this change resulted in a favourable trade balance of N2,144bn, up N339bn from Q1.

The new figures showed that Nigeria imports the highest value of goods from Asia (N672bn), followed closely by Europe (N584bn), while the US is lagging behind at N211bn. Africa trailed behind all the continents at N119.4bn.

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