Nigeria’s exports to six major trading partners—Spain, the United States of America, France, India, the Netherlands, and China reached N8.88 trillion in the second quarter of 2024, according to the National Bureau of Statistics in the Commodity Price Indices and Terms of Trade Report released on Thursday.
A breakdown of the figure showed that Nigeria’s exports to Spain in the second quarter were valued at N2.01tn, representing 10.34 per cent of the country’s total exports during the period.
According to the report, the top export items included crude petroleum oils and oils obtained from bituminous minerals valued at N1.63tn, natural gas worth N191.93bn, and other petroleum gases in gaseous state at N157.05bn.
On the import side, Nigeria imported goods worth N261.06bn from Spain, with the major imports being motor spirit, ordinary (N145.24bn), mixed alkylbenzenes and mixed alkylnaphthalenes (N30.56bn), and gypsum (N18.83bn).
Exports to the United States accounted for 9.56 per cent of total exports, amounting to N1.86tn. The largest export commodity was crude petroleum oils valued at N1.62tn, followed by urea.
