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Nigeria exports fall to 5-1/2-year low

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Staff writer ▼ | December 21, 2015
Exports in Nigeria were reported at NGN 680.48 billion in September of 2015, down 39.1 percent from the previous year, reaching the lowest since January of 2010.
Nigeria export
Trade   Nigerian sales plunged 50.3 percent
Considering the third quarter of the year, sales plunged 50.3 percent year-on-year and 12.1 percent over the previous quarter, due to lower oil prices.

Yet, shipments of mineral products including oil accounted for 86.8 percent of total exports in the third quarter while vehicles, aircraft and parts, vessels accounted for 9.3 percent, prepared foodstuffs, beverages, spirits and vinegar and tobacco for 1.4 percent and sales of vegetable products for a meager 0.4 percent.

Exports in Nigeria averaged 363038.91 NGN Millions from 1981 until 2015, reaching an all time high of 2648881.76 NGN Millions in December of 2011 and a record low of 322.93 NGN Millions in February of 1983. Exports in Nigeria is reported by the National Bureau of Statistics, Nigeria.