Farmers Exported N60.5bn Goods In 3 Months – NBS




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Nigerian farmers exported goods worth N60.5bn in the third quarter of 2020.

During the quarter, total trade in agricultural goods stood at N563.9bn, according figures obtained the National Bureau of Statistics on foreign trade.

Analysis by economic region showed that agricultural goods were exported Asia (N32.2bn), Europe (N16.7bn), (N9.1bn) and (N2.4bn).

The key drivers of agricultural exports were sesamum seeds, cashew nuts, good fermented cocoa beans and superior quality raw cocoa beans.

Sesamum seeds were exported mainly (N5.3bn) and China (N4.7bn), while cashew nuts worth N8.3bn and N2.2bn were exported Vietnam and India respectively.

In terms of imports, durum wheat worth N55.5bn was imported the , N46.6bn Russia and N46.5bn Canada.

This was followed by mackerel, imported Russia worth N13.8bn, Netherlands (N5.8bn) and (N2.6bn).

Also in this category was maize seed worth N25.9bn imported from Argentina.

The total trade in solid mineral goods stood at N40.8bn in Q3, 2020, comprising an import component of N35.2bn and component of N5.5bn.

The major exported this sector were cement worth N1.4bn exported to Republic.

This was followed by cement clinkers exported to Cameroon, worth N1.2bn as well as lead ores and concentrate exported to China, worth N1.0bn.

In terms of imports, plasters of calcined gypsum were mainly imported from Turkey (N4bn) and Egypt (N1.9bn).

This was followed by gypsum, imported from Spain (worth N4.4bn).

Crude salt was also imported from Brazil and Namibia – worth N3.2bn and N1.9bn respectively.

Manufactured imports stood at N3.43tn, according to the NBS.

The main drivers were used vehicles imported from the (N134.8bn) as well as antibiotics imported from The Netherlands (N78.1bn), India (N25.4bn) and China (N10.2bn).

Other goods imported this category were from India (N50.7bn) and from China (N22.4bn).

The value of manufactured goods trade in Q3, 2020 stood at N3.56tn.

of this, the component accounted for N133bn.

The that drove up manufactured exports were floating or submersible drilling platform exported to Equatorial (N21.96bn), vessels and other floating structures to Denmark, Congo and Cameroun valued at N9.8bn, N3.9bn and N3.6bn respectively.

trade on manufactured goods by region showed that goods were exported mainly to (N78.4bn), Europe (N28.5bn) and Asia (N16.9bn).

Import trade by region showed that manufactured goods were mainly imported from Asia (N2.1tn), Europe (N773.3bn) and (N410.99bn).

Source