Farmers exported N68.2bn goods in three months –NBS

Farmers exported N68.2bn goods in three months –NBS

Nigerian farmers exported goods worth N68.2 billion in the last quarter of 2019, according to figures obtained from the National Bureau of Statistics.

Part of the report on foreign trade goods read, “During the quarter, total trade in agricultural goods stood at N301.49 billion, out of which exported agricultural goods accounted for N68.2 billion.”

Analysis by economic region showed that most agricultural goods were exported to Asia and Europe, and valued at N34.54 billion and N29.2 billion respectively.

The key driver of agricultural products exports was sesame seeds exported mainly to India (N6.6 billion), China (N5.4 billion) and Turkey (N5.3 billion).

Other key agricultural exports were good fermented cocoa beans exported mainly to the Netherlands (N12.3 billion) and Germany (N5.9 billion), as well as frozen shrimps exported to the Netherlands and valued at N1.5 billion.

Imported agricultural products accounted for N233.3 billion of total agricultural trade in Q4 2019.

The major product was durum wheat (not in seeds) imported mainly from Latvia (N11.58 billion) and Canada (N11.15 billion).

Durum wheat (seeds) was also imported from Singapore and Russia valued at N14.9 billion and N6.78 billion respectively.

The report revealed that the value of manufactured goods trade in Q4 2019 stood at N4.42 trillion or 43.69 per cent of total trade.

Of this, the export component accounted for N509.2 billion

The products that drove up manufactured export were vessels and other floating structures exported to Ghana, Germany, Cameroun and Singapore, valued at N302.7 billilon, N63.7 billion, N13.2 billion and N13.1billion respectively.

Floating and submersible drilling platforms were also exported to Cameroun during the period under review, valued at N65.5 billion.


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