Nigeria’s total import from India totalled N89.2 billion in the fourth quarter of 2018, according to data obtained from the National Bureau of Statistics on commodity price indices and terms of trade.
Nigeria imported live purebred horses amounting to N66.5billion, live horses were N9.3billion, primates N6.8 billion and other live mammals costing N6.6billion totaling about N89.2 billion from India during the period under review.
India was Nigeria’s major export market in Q4 2018 accounting for 15.5 per cent or N780.1 billion of total exports. The largest export commodity to India was crude oil at N730.3billion. This was followed by natural gas liquified N39.1billion, sesamum seed N4.1billion, and cashew nuts at N2.0billion.
Also Nigeria’s exports to Spain were valued at N569.4billion, making it the second largest export market for Nigeria after India within the period under review. Crude oil was the top Nigerian export valued at N471.6billion during the period.
Nigeria’s total export to Spain, China, The Netherland, France, and India, however, totalled N2.28trillion in the fourth quarter of 2018, according to data which revealed that Nigeria’s exports to Spain and China amounted to N569.4billion and N113.3billion, added that the figures for The Netherland, France and India were N328.7billion, N494.9billion and N780.1billion respectively.
Other goods exported to Spain during the period, according to report, were natural gas liquified valued at N93.1billion, leather prepared after tanning (goat), N2.1billion while live purebred breeding horses valued at N295.2billion, live horses other than purebred valued at N285.9billion, primates valued at N283.4 billion and other live mammals valued at N270.2billion were imported from Spain.
China had maintained its position as a major trading partner of Nigeria. In Q4 2018, Nigeria’s export trade with China was dominated by natural gas liquified which amounted to N63.4billion in value, followed by crude oil (N23.5billion, sesamum seed N13.7billion, propane, liquified N8.0billion and butane, liquefied for N4.7billion.
In terms of imports, machines for reception of voice, motorcycles, machine tools for working stones, Amorphous PET chips and machines for cleaning seeds worth N35.6billion, N19.9billion, N18.9billion, N15.6billion and N14.2billion respectively were imported from China.
In Q4 2018, Nigeria exported N432.2billion worth of crude oil to France. Other major export commodities include Natural Gas Liquified valued at N62.1billion and technically-specified natural rubber valued at N0.6billion.