BREAKING: Spain, US, Others Dominate List Of Countries Nigeria Made Money From

Nigeria’s export value in Q3 of 2024 was N20,486.39 billion, according to the country’s Bureau of Statistics’ most current trade data......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>

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This is a 16.76% increase over N17,545.62 billion in Q2 2024 and a 98.00% increase over N10,346.60 billion in the same quarter of 2023, according to the research.

This followed the release of some of the most popular products in the nation to some of its most recognizable markets.

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According to the survey, Nigeria’s total goods trade was worth N35,160.44 billion in Q3 2024.

This is an 81.35% rise over the amount recorded during the same period in 2023 and a 13.26% increase over the value recorded during the preceding quarter.

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During the reviewed quarter, exports accounted for 58.27% of overall commerce, valued at N20,486.39 billion.

This highlights a 16.76% rise over the value recorded in Q2 2024 (N17,545.62) and a 98.00% increase over the value recorded in the third quarter of 2023 (N10,346.60).

Nigeria’s export trade was dominated by crude oil exports, which accounted for N13,406.37 billion, or 65.44% of total exports, in the third quarter of 2024. Non-crude oil exports, on the other hand, totaled N7,080.02 billion, or 34.56% of total exports, of which N2,501.85 billion, or 12.21% of total exports, came from non-oil products.

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According to the most recent report from the National Bureau of Statistics, these are the nations from which Nigeria earned the most money from the sale of its goods.

Spain

Spain is number one on the list of countries Nigeria exported its goods. The country led the list with about 11.07% export contribution for the third quarter to emerge Nigeria top trading partners in Q3 2024.

United States

The US followed immediately after Spain, contributing about 8.25% of the Nigeria total export in third quarter 2024.

France

France is next after the US, with a total contribution of 7.75% share of total export from Nigeria.

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Netherlands

Netherlands contributes abut 7% of total expert according to the third quarter foreign trade statistics report released by the NBS.

Italy

Italy comes next with a total contribution of 6.72% to export for third quarter period.

Nigeria exports over N41trn worth of goods in 9 months

Legit.ng reported that the National Bureau of Statistics (NBS) has announced that Nigeria recorded a total of N99.34 trillion worth of trade in the first nine months of 2024.

This represents a 48.65% increase compared to the N66.82 trillion reported in the same period of 2023.

The bureau stated this in its latest foreign trade statistics report released on its website.

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