FG Trades N72.4bn Solid Minerals In Q3, 2021

The National Bureau of Statistics (NBS) has said Nigeria traded a total of N72.4 billion solid minerals in the third quarter (Q3) of 2021.

“The total value of solid minerals trade in Q3 2021 stood at N72.4 billion,” it said in its document titled: “Foreign Trade in Goods Statistics (Q3 2021),” which The Nation obtained yesterday.

The document revealed that some of the products exported under this sector incude other Cement exported to Niger Republic 42.73per cent more than Q3 2020.

According to NBS, the products exported under this sector and their country of destination were; floating or imports in Q3 2021 increased by 10.93per cent compared to Q2 2021 and 53.42per cent compared to Q3.

The document said Gypsum imported from Turkey was (N3.2 billion) and Tunisia (N2.5billion).

During the quarter, said NBS, solid minerals exports increased by 22.7 per cent compared to Q2 2021 and

China in the value of N3.3 billion and Lead ores and Concentrate worth N2.7billion were imported from Spain and Turkey.

It added that other products imported include; Plasters of Calcined 39.4per cent more than the value in Q2 2021 and 121.6per cent higher than Q3 2020.

NBS said some of the products exported under this sector include Cement exported to Niger republic (N3.6billion) and Togo (N2.5billion).

Concentrates were exported to Brazil in values worth N5.6billion and N2.1 bilion also exported to China.

In the same period, according to NBS, Gypsum worth N10.3 billion and N4.7 billion were imported from Spain and Turkey.

The document noted that in the period under review, other products imported include; plasters of Calcined Gypsum imported from Turkey (N3.2 billion).

The bureau said there was also coal imported from Mozambique and in the same period, Gypsum worth N10.3 billion and N4.7bilion imported from Turkey (N3.2 billion) and Tunisia (N2.5billion) respectively.

NBS also noted that the total value of manufactured goods stood at N5.195 billion in Q3, 2021.

The export component of this trade, said the document, was valued at N295.03billion while the import component stood at N4.900 billion.

It further noted that during the reviewing quarter, manufactured goods exports were 39.4per cent more than the value in Q2 2021 and 121.6per cent higher than Q3 2020.

NBS said on the other hand, manufactured goods imports were 13.98per cent higher in Q3 2021 than the level in Q2 2021 and 42.73 per cent more than Q3 2020.

It said the products exported under this sector and their country of destination were; Floating or submarine drilling platform Cameroon (159.3billion) and Equatorial Guinea (N4.4billion).

NBS said during the period under review, Aluminum aloys were exported to Japan (N14.2 billion) and China N5.4 billion.