Nigeria’s Commodity Import Increased By 1.07% In Q2 2021

Latest data released by the National Bureau of Statistics have shown that Nigeria’s all-commodity group import index increased by 1.07 per cent between April and June, 2021.

The all-products terms of trade index on average decreased by 0.35 per cent as a result of declines in the prices of live animals, animal products, wood and articles of wood; wood charcoal and articles, vehicles, aircraft and parts thereof, vessels among others.The NBS disclosed this in its quarterly report that was published yesterday.

According to the report, the increase in commodity import was driven mainly by an increase in the prices of products of the chemical and Allied industries , wood and articles of wood, wood charcoal and articles Paper making material; Paper and paperboard articles . Between April and May, 2021 the all-commodity group import price index grew marginally by 0.12 per cent due to marginal increases in the index of products of the chemical and Allied industries , wood and articles of wood, wood charcoal and articles , paper making material; paper and paperboard .

The NBS said that was offset by decreases in the prices of live animals; animal products , animal and vegetable fats and oils and cleavage and mineral products .

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