Nigeria records N817.35b trade in agricultural products in Q2


Nigeria records N817.35b trade in agricultural products in Q2 – The Federal Government of Nigeria recorded N817.35 billion trade in agricultural goods in the second quarter 2021, it was learnt Monday.

A document that Financial Watch obtained from the National Bureau of Statistics (NBS) said there was N165.27 billion from export of agricultural goods while the import component of the trade N652.08 billion.

The document was entitled: Foreign Trade Statistics — Q2 2021.

On its agricultural goods sector, the NBS said:  “The total value of trade in agricultural goods in Q2 2021 stood at N817.35billion.

“The export component of this trade totaled N165.27billion while the import was valued at N652.08billion.”

The data further noted that the top most of these exported agricultural products were good fermented Nigerian Cocoa beans exported mainly to Netherlands (N16.48 billion), Malaysia (N9.32billion) and United States (N8.41billion).

It revealed that the next leading product was cashew nuts, in shell exported to Vietnam (N33.54billion) and India (N3.24billion).

According to the NBS, the other major exports under this sector include Sesamum seeds whether or not broken exported to Japan in the value worth N7.28billion, China N7.14billion and Coconuts N9.94billion.

The document, however, said there was importation of Durum wheat (not in seed) worth N70.37 billion from U.S,.Durum wheat also came from Canada (N54.48billion), Argentina (N35.04billion), Lithuania N32.24billion and Latvia N25.91billion.

It said: “The next product imported under this category was Blue whitings from Russia (N27.23 billion) and Netherlands (N13.41billion). During the quarter, mackerel worth N9.61billion was imported from Netherlands and N4.91billion from Japan.There was also importation of Malt,not roasted from Belgium (N21.42 billion) and France (N4.48billion).

“Other major importation was Crude palm oil from Singapore in the value worth N15.09billion and India N11.68billion).”

On the solid minerals sector, the NBS said in terms of imports, Plasters of Calcined Gypsum was imported from Turkey and Egypt in values worth N8.35billion and N3.69 billion.

It added that during the period under review, there was importation of Gypsum anhydrite worth N7.78billion from Spain and Turkey N5.22billion.

The report noted that others were other salt (including Crude Salt) worth N6.04 billion imported from Brazil.

It revealed that there was importation of Salt for human consumption (including table salt) from Namibia in the value worth N2.52billion and Granite, cut into a square or rectangular shape from China (N2.25billion).

NBS said: “The total value of trade in solid mineral goods in Q2,2021 stood at N63.68billion.

“The export component of this trade stood at N14.93 billion while the import was valued at N48.75billion.

“The leading exported mineral products were other cement exported to Niger Republic and Togo in values worth N3.12billion and N2.32billion. Another product under this sector was Zinc ores and Concentrates exported to China in the value worth N4.15 billion.”

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