shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Import Index Grows By 0.52% Between July And Sept. — NBS

Import Index Grows By 0.52% Between July And Sept. — NBS

by Joshua
December 22, 2021
in Featured, News

The National Bureau of Statistics (NBS) says the all-commodity group import index grew marginally by 0.52 per cent between July and Sept.

NBS-building

It said this on Tuesday in Abuja, in the “Commodity Price Indices and Terms of Trade for Quarter Three, 2021” published on its website.

The report said the growth was driven mainly by products of the chemical and allied industries, wood and articles of wood, wood charcoal and articles, paper making materials, paper and paperboard articles.

The NBS also said that between July and August, the all-commodity group export price index averagely declined by 2.33 per cent due to decreases in the prices of mineral products, animal and vegetable fats and oils and other cleavage products and vehicles, aircraft and parts as well as vessels.

The report said that for the all-region group import index, there was a 0.52 per cent increase due to marginal increases in import prices from all the regions.

It added that the all-region terms of trade on average decreased by 2.85 per cent due to lower export prices to all the regions with rising import prices from all the regions.

Read Also:  Customs Reveals Content Of Suspected Arms Laden Container

“The major export and import market of Nigeria in quarter three were India, Spain, Italy, France and China.

“The major exports to these countries were crude petroleum and Liquefied Natural Gas.”

The NBS added that the major imports from these countries were motorcycles, vehicles with fuel engine, motor spirits, polyethylene and instruments, appliances and machines for measuring.

The bureau explained that Terms of Trade (TOT) represents the ratio between a country’s export prices and its import prices.

“The ratio is calculated by dividing the price of the exports by the price of the imports, usually in percentage terms.

“An increase in the TOT between two periods (or when TOT is greater than 100 per cent) means that the value of exports is increasing relative to the value of imports and the country can afford more imports for the same value of exports.”

shippingposition

Kindly like us on Facebook


Tags: Import Index Grows By 0.52%National Bureau of Statistics

Related Posts

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025
Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

July 12, 2025
NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

July 12, 2025
NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

July 12, 2025

Discussion about this post

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition