Nigeria imports decreased by 2.70% Q3, 2019 — NBS

The National Bureau of Statistics (NBS), said on Friday 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 stated this in a report released in Abuja on Friday added that the value of the percentage of imports decreased by 2.70 per cent compared to the second quarter in the year with a total rise by 8.20 percent.

It said the value of imported agricultural products was 4.01 percent lower than in the second quarter which was 5.79 percent.

Similarly, the NBS said the value of raw material imports decreased by 4.64 percent in the third quarter of the year.

The Bureau added that the value of solid mineral imports was 31.73 percent lower than the value of the second quarter of 2019 but 7.05 percent higher than the value recorded in the third quarter of 2018.

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

The NBS explained that the 286.91 percent 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.