Business Post Contributor
By Ashemiriogwa Emmanuel
The total value of goods exported from Nigeria to different parts of the world between April and June 2021 stood at N5.08 trillion, the National Bureau of Statistics (NBS) has disclosed.
The stats office said this was 74.7 per cent higher than the total exports value of N2.91 trillion recorded in the first three months of this year (January to March) and 128.3 per cent higher than the N2.22 trillion achieved in the same period of last year.
According to NBS, this growth resulted mainly from the rise in export value of crude oil in the second quarter of this year as it increased by 111.3 per cent when compared to the performance of the last quarter, and 162.4 per cent higher than in Q2 2020.
Likewise, the value of agricultural exports totalled N165.27 billion, which indicate an increase of 29.9 per cent compared to Q1 2021 and 111.8 per cent against the performance at the same period in the previous year.
The report also reflected a 49.9 per cent rise in the value of raw material goods exported from the country offshore during the period as against the value of Q1 2021 as the export component stood at N64.01 billion. This is also 326.6 per cent higher than the value recorded in Q2 2020.
Also, the exports of energy goods of the nation during the quarter recorded a total of N6.9 trillion billion which is 18.4 per cent higher than the value of the first quarter of 2021, and 62.1 per cent high versus last year’s performance of the same period.
The total solid minerals exports were valued at N14.93 billion with the leading mineral products being other cement exported to the Niger Republic and Togo. The total value marks an increase of 60.1 per cent quarter-on-quarter and an 852.9 per cent rise against the corresponding quarter in 2020.
However, the analysis revealed that there was a decline of 15.5 per cent in the value of manufactured goods exports during the review period as it stood at N211.67 billion attributed majorly to vessels and other floating structures for breaking up, which was exported to Cameroon.
The data showed that India, Spain, and Canada were major export trading partners where Nigeria exported its goods to within the period as they attributed for 18.7 per cent, 10.3 per cent, and 7.0 cent of the total export value respectively.
This was followed by the Netherlands and the United States who attributed for 5.9 per cent, and 5.1 per cent of the overall export value respectively during the reference period.
