Nigeria’s imports decreased in Q3 2019 — NBS

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The National Bureau of Statistics (NBS) has that total imports into the country in the third quarter of 2019 decreased by 2.70 percent, while exports of other oil products rose by 6.14 per cent.

The bureau which disclosed this in its report released in Abuja yesterday said the value of the percentage of imports decreased by 2.70 per cent compared to 8.20 per cent recorded in the second quarter.

NBS also stated that the value of imported agricultural products was 4.01 per cent lower the 5.79 per cent reported in the second quarter.

Similarly, the value of raw material imports decreased by 4.64 per cent in the third quarter of the year.

The bureau also said the value of solid mineral imports was 31.73 per cent lower than the value of the second quarter of 2019 but 7.05 per cent higher than the value recorded in the third quarter of 2018.

However, the agency disclosed that the value of energy goods imports increased by 243.92 percent in the same period.

It explained that the 286.91 percentage increase in energy goods imports was relative to the third quarter of 2018 due to the increased import of other wood charcoal, electrical energy and charcoal of bamboo.

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