Nigeria’s goods exports hit N48.70trn in 4 years

Nigeria's goods exports hit N48.70trn in 4 years

Nigeria exported goods worth N48.70 trillion to Europe, Asia, America, Africa and Oceania in the last four years.

Analysis of the data sourced from the National Bureau of Statistics (NBS) showed that Nigeria had been exporting more goods to Europe, Asia and America more than she exported to other African countries from 2013 to 2014.

The data showed that Europe was Nigeria’s number one destination for exports, with exports to the continent hitting N18.84tn in the last four years.

The European destinations for Nigeria’s exports are Germany, the United Kingdom, the Netherlands, Italy, France and Spain.

However, exports to Europe have been on a downward slide since it peaked in 2013 at N6.07tn, dropping to N3.05tn in 2016.

The second highest value for export recorded by Nigeria within the period was from Asia, as the country exported goods worth N11.54tn to the continent in four years.

Exports to the Asian countries of Japan, India and China recorded the highest value in 2014 at N4.05tn, from N2.06tn recorded the previous year, dropping to N2.53 trillion in 2016.

Further analysis showed that the total exports to America exceeded the total exports to African countries within the period under review.

Exports to the United States of America, Canada and Brazil hit N8.09tn in the four-year period.

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