Stats: 3,189,270 members, 7,936,842 topics. Date: Sunday, 01 September 2024 at 03:13 AM |
Nairaland Forum / Nairaland / General / Politics / NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 (3102 Views)
NBS: Nigeria Recorded N2.2trn Trade Surplus In First Half Of 2023 / Weak Export Drags Down Nigeria’s Trade Balance By 86% / After 8 Quarters Of Deficits, Nigeria Records $1.1 B Foreign Trade Balance (2) (3) (4)
NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by sophsia62: 3:51am On Sep 27, 2018 |
Nigeria’s all products terms of trade (TOT) indices for April, May and June 2018 stood at 100.5, 111.1 and 109.2 respectively, indicating favourable TOT for all the months of the second quarter (Q2), the National Bureau of Statistics (NBS) has stated. NBS stated that the data meant that the country used 0.5, 11.1 and 9.05 per cent less of her exports to procure the same level of imports in the months under review. The product groups that contributed most to the positive trade positions during the review period were mineral products, wood and articles of wood, wood charcoal and articles, live animals; animal products, and vegetable products. According to the Commodity Price Indices and Terms of Trade report for Q2, released yesterday, Belgium, China, Spain, the Netherlands and India constituted Nigeria’s top five trading partner countries within the period. The major Nigerian export to Belgium during the quarter was other petroleum gases valued at N11.7 billion, followed by good fermented cocoa beans (N474 million), frozen shrimps (N453.5 million) and other meals and pellets of crutacean (N53.9 million). On the import side, Nigeria imported petrol worth N117.6 billion, gas oil valued at N20.6 billion, malt (N4.1 billion), polyethylene (N2.0 billion) and other polyethers (N1.6billion) from Belgium. The statistical agency noted that all region group export index recorded an increase of 2.3 per cent in February, a decline of 1.3 per cent in April. The index reversed with a decrease of 0.3 per cent in May but increased again in June by 1.4 per cent. It further stated that the all commodity group import price index rose by two per cent driven by miscellaneous manufactured articles. It said the all commodity group export price index rose by 11 per cent driven by mineral products, wood products, live animals and vegetable products. The major export to the countries was crude petroleum and natural gas while the major import from these countries was motor spirit (ordinary). https://www.akelicious.net/2018/09/nbs-nigeria-recorded-favourable-trade.html 3 Likes 2 Shares
|
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by Nltaliban(m): 5:22am On Sep 27, 2018 |
Since the inception of this government, the best of our progress and achievements are on paper no concurrent practical manifestation :-/ 6 Likes |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by elnath(m): 5:29am On Sep 27, 2018 |
To what end? How has it impacted on the life of the average Nigerian? Economic gains has to have effect on the people's standard of living to be meaningful. |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by AroOkigbo(m): 5:29am On Sep 27, 2018 |
So how much is the dollar? ![]() |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by buhariguy(m): 5:30am On Sep 27, 2018 |
Buhari is working, Buhari till 2023. Buhari is the best president till 2023. The first time in the history of Nigeria to have favourable terms of trade. The jobless aggressive lazy idiotic pigs of bia-fra terrorist will not like this achievement. 3 Likes 2 Shares |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by buhariguy(m): 5:37am On Sep 27, 2018 |
elnath:it will have impact in your life if you are not jobless aggressive lazy terrorist. 2 Likes 2 Shares |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by theoldpretender(m): 5:40am On Sep 27, 2018 |
The product groups that contributed most to the positive trade positions during the review period were mineral products, wood and articles of wood, wood charcoal and articles, live animals; animal products, and vegetable products. Not bad...I can see we are exporting more stuff other than oil. The problem though is the petrol we are importing....N117.6 bn. More motivation for us to improve our oil sector. 5 Likes |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by theoldpretender(m): 5:42am On Sep 27, 2018 |
buhariguy: I am afraid the person you quoted is right. Positive balance of trade, while good, does nothing for the average Nigerian (except those who have jobs related to the aforementioned exporting branches). We need to be a job creating economy....via deregulation of the oil sector, improving power, and transport. |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by Gliding(m): 5:45am On Sep 27, 2018 |
elnath: In fact, that is why they are called economic gains and not losses. It has positive impacts on the people, but mostly such impacts are gradual and long term. You might remember that the Nigerian economy did not suddenly become bad overnight. It took years /decades of mismanagement. It might take even more to revive it completely. 5 Likes 1 Share |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by Rajosh(m): 5:46am On Sep 27, 2018 |
buhariguy:someone aired his honest opinion and all you can do is to talk him down? The economy is growing on paper but there's little or no effect on the masses. Take for example the issue of minimum wage which is long overdue but the gov't is still dragging feet. |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by ddeola: 5:55am On Sep 27, 2018 |
With external debts sky-rocketting. ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by morisnewrain(m): 5:58am On Sep 27, 2018 |
elnath:But if it is deficit, Buhari has failed. Appreciate this govt sometimes 4 Likes 1 Share |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by rxmusa(m): 5:59am On Sep 27, 2018 |
President Muhammadu Buhari is working. Seriously Nigeria needs him for another term to ensure sustainability of development, progress and war against corruption. May Buhari Succeed May Nigeria become greater 4 Likes 1 Share |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by buhariguy(m): 6:04am On Sep 27, 2018 |
theoldpretender:i reply him base on, if he was not lazy, he should be contributing to our export level by going into farming instead of complaining and he will not feel the impact if he is aggressively lazy and jobless. 1 Like 1 Share |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by Cyrealmusic(m): 6:27am On Sep 27, 2018 |
If u are planning to work or vote 4 these recycling empty old brains in @PDP or @APC in 2019 general election, know now that u are d Satan in ur life, u are d chain holding u down, u should be casting & binding ur self in prayers and if you die 4 @APC or @PDP May u not rest in peace since u are so stupid not to know that these old men gives u nothing but take from u everything. |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by SarcasticGenius(m): 6:40am On Sep 27, 2018 |
.............. |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by Nobody: 6:56am On Sep 27, 2018 |
elnath:people like you will keep complaining while others soar. If the statistic was negative, I'm sure you would have celebrated It here . Negativity is a disservice to oneself 3 Likes 2 Shares |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by vedaxcool(m): 7:52am On Sep 27, 2018 |
buhariguy: Is it not funny that they expect the government to enter their rooms are make them feel the impact of a growing economy. Indeed a lot of our youths especially the male folks are lazy whining lifeless OLODO who rather than seek opportunities are waiting to be spoonfed. 2 Likes 2 Shares |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by Nobody: 7:52am On Sep 27, 2018 |
![]() 1 Like 1 Share
|
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by INTEGRITYA1(m): 8:08am On Sep 27, 2018 |
Nice 1 Like |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by INTEGRITYA1(m): 8:17am On Sep 27, 2018 |
This is wonderful Economic indices and good news. The only part of the report that call for serious concern is: "On the import side, Nigeria imported petrol worth N117.6 billion, gas oil valued at N20.6 billion, malt (N4.1 billion), polyethylene (N2.0 billion) and other polyethers (N1.6billion) from Belgium." It will be much better for us if issues regards refineries in Nigeria is sorted, so there will be no need of exporting our crude to later import petrol at higher cost. Make Dangote Refinery in Ibeju-Lekki start on time. This just ja ra o. To invest in landed properties (wonderful Estates) within and around Ibeju-Lekki axis, I'm at your service. Ibeju-Lekki is a goal and it's going to be great. God bless Nigeria. |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by Arkmanbuddy(m): 9:09am On Sep 27, 2018 |
Impressive trade results, but the government has to do something about oil importation, its killing our economy. |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by deji17: 12:21pm On Sep 27, 2018 |
elnath:It can not impact you positively. When you spend the better part of your life on social media. Your mates are embracing Agriculture and then smiling to the bank. |
Re: NBS: Nigeria Recorded Favourable Trade Balance In Q2 2018 by Nobody: 4:38pm On Sep 27, 2018 |
Gliding: A guy with sense.... You said the truth... 1 Like |
(1) (Reply)
SHORKING: Kwara State Governor Elect Visited A School In Saraki's Hometown. / Great Recovery Of South-East After Nigerian Civil War / Jonathan’s Ex-aide, Reno Omokri Rejects Prayers Offered Him By A Muslim
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 46 |