Nigeria’s import and export trade in June 2023 reached at N12.74 trillion, with the Netherland topping the list of countries with the nation’s export destination, It was reported.
Premium Motor Spirit import accounted for 21.5% (N1.23 trillion).
The United States of America, Indonesia are the other countries with high export of Nigerian goods.
However, China, the United States of America, Belgium, India and the Netherlands top the list of countries with the highest import of goods into Nigeria as at the end of the second quarters of 2023.
According to the document, the nation’s total export for the period stood at N7.02 trillion while total imports amounted to N5.73 trillion.
Total import from China with the period stood at about N1.27 trillion representing 22.17%) to lead other countries where goods are imported into the country.
Total export to the Netherlands’ export stood at N788.85 billion, representing 11.24% of total exports; followed by United States of America with N718.63 billion; Indonesia with N550.18 billion; France with N540.73 billion and Spain with N504.45 billion.
The document reported that exports to the five countries amounted to 44.23% of the total value of exports.
It said further that total imports within the first six months of the year increased by 2.99per cent compared to the value recorded in the first quarter of 2023 (N5.56 trillion) but declined by 10.37per cent when compared to the value recorded in the corresponding quarter of 2022 (N6.39 trillion).
Also, it said that the values of import from the top five countries amounted to N3.44 trillion representing about 60.05 of total imports.
Other imports included used Vehicles, ang Automotive Gas oll (AGO).
The document also disclosed that total exports increased by 8.15% when compared to the amount recorded in the first quarter of 2023 (N6.49 trillion) but declined by 5.20per cent compared to the corresponding quarter in 2022 (N7,400.89 billion).
It said that ‘Petroleum oils and oils obtained from bituminous minerals, crude’ valued at N5.59 trillion representing 79.63per cent account for the largest export product was, followed by Liquefies Natural Gas (LNG) liquefied billion and Urea.