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Nairaland Forum / Nairaland / General / Politics / Nigerian's Trade Surplus Now At 20.3% (1585 Views)
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Re: Nigerian's Trade Surplus Now At 20.3% by Nobody: 11:15am On Aug 22, 2014 |
jmaine:I told your co-traveller to supply FACT but he couldn't. He only gave a bloomberg news article. I expected him to visit the Budget Office, Finance Ministry or a reputable economics website. Neither did you come up with any. You Jonathanians are pathetic |
Re: Nigerian's Trade Surplus Now At 20.3% by jmaine: 11:18am On Aug 22, 2014 |
barcanista: I told your co-traveller to supply FACT but he couldn't. He only gave a bloomberg news article. I expected him to visit the Budget Office, Finance Ministry or a reputable economics website. Neither did you come up with any. You Jonathanians are pathetic You are the pathetic one here bruv, cos they presented reputable references while you were all raging to no where. Why do the APC hordes hate anything good emanating from Nigeria ? It is highly demonic . . . . Imagine the lame response Omenka gave about the streets and the ports as his cogent counter data, moreso when a recent post of his revealed he may not even be residing in Nigeria . . . . 4 Likes |
Re: Nigerian's Trade Surplus Now At 20.3% by FrankC3: 11:27am On Aug 22, 2014 |
barcanista: Nigeria Imports 2002-2014 Now that we are having a decent discussion, what you cited indicates an increase in imports into the country. It said nothing about the exports. It even further enriches the diversification efforts. I really assume that you understand that balance of trade indicates the difference between what is imported and what is exported. What you are citing is the import values. Look at the export values and derive the balance of trade yourself and you will notice that we are actually having a surplus. From the same site you make reference to, please see below: "Nigeria recorded a trade surplus of 759465.90 Millions Nigerian Naira in March of 2014. Balance of Trade in Nigeria averaged 471006.96 Millions Nigerian Naira from 2002 until 2014, reaching an all time high of 2177794.70 Millions Nigerian Naira in October of 2011 and a record low of -592182.60 Millions Nigerian Naira in March of 2011. Balance of Trade in Nigeria is reported by the National Bureau of Statistics, Nigeria." http://www.tradingeconomics.com/nigeria/balance-of-trade Now, see below and tell me why you disagree. Source: Same as yours, http://www.tradingeconomics.com/nigeria/balance-of-trade Trade Last Previous Highest Lowest Unit Balance of Trade 759465.90 775514.30 2177794.70 -592182.60 Millions Nigerian Naira [+] Exports 1283987.10 1263067.70 2648916.30 115556.00 Millions Nigerian Naira [+] Imports 524521.20 487553.30 1554732.90 59635.15 Millions Nigerian Naira [+] Current Account 5384.89 3651.44 9455.37 -4410.00 USD Million [+] Current Account to GDP 7.10 10.80 37.90 -18.70 Percent [+] Terms of Trade 103.75 104.22 160.25 49.48 Index Points [+] Foreign Direct Investment 166270.41 190363.88 824311.38 1245.42 USD Thousand [+] Gold Reserves 21.37 21.37 21.37 21.37 Tonnes [+] Crude Oil Production 2340.00 2350.00 2695.00 675.00 BBL/D/1K UPDATE: I don't think this will be necessary any more as @Barcanista has recanted his earlier position. 4 Likes |
Re: Nigerian's Trade Surplus Now At 20.3% by Nobody: 11:42am On Aug 22, 2014 |
The APC demons and anti-good news apostles have all fled from this thread 2 Likes |
Re: Nigerian's Trade Surplus Now At 20.3% by toluene12: 12:04pm On Aug 22, 2014 |
barcanista: My friend you are a lying preeeeeeek. Nigeria CANNOT have Trade surplus because her imports Overwhelms her export. It's a very simple economics, one doesn't need to be an economic guru to understand this. Nigeria is on Trade Deficit!!!!!!!!!! nigeria had been enjoying trade surplus since the oil boom days. last year, the value of our export was $95 billion(mainly oil and gas) while the value of our import was $75 billion. so nigeria had a trade surplus of $20 billion in 2013. however the naira does not really benefit from the trade surplus because we are paid with dollars as far as the oil we sell is concerned. the international buyers do not need to seek for naira to exchange for dollars. they simply pay in foreign denominations. 1 Like |
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