The United States Census Bureau (USCB) in its latest data obtained by our correspondent has said that, Nigeria recorded a total of $7.79 billion dollars in trade with the United States, it also added that total U.S export to Nigeria was $3.18 billion while import from Nigeria stood at $4.61 billion.
The data also revealed that United States imports from Nigeria fell 47.14 per cent through the first four months of the year, exports to Nigeria also decreased 4.35 per cent.
The bureau explained that in January 2020, the United States exported $186.9million worth of goods to Nigeria, while $177million goods were received by Lagos ports and other seaports.
Also, it added that in February, export from the U.S stood at $244.2million as Nigeria recorded $138.9million, leading to a deficit of $105.3million between the two countries.
According to the report, as at March, some export goods from USA, which reached Nigerian ports were valued at $272million, while imports to the United States from Nigeria reached $103.6million, leading to a trade deficit of $168.4million between the two trading countries.
In April, $230.3million exports from U.S came to Nigerian ports, while imports received by U.S ports from Nigeria stood at $81.3million. The bureau stated that the deficit in April between both countries was $149million.
It stressed that gasoline, LNG, other petroleum gases and lead, accounted for 95.18 per cent of the inbound shipments from Nigeria between January and April, noting that gasoline, other fuels rose 13.27 per cent compared to last year to $50.11 million.
Despite the outbreak of Coronavirus pandemic, Nigeria passenger vehicle imports rose by 8.08 per cent compared to last year to $220.51 million,
The bureau further noted that motor vehicle spare parts rose by 7.59 per cent to $53.3 million. when compared to last year figures, while wheat export to Nigeria fell by 49.78 per cent compared to last year to $106.71 million.
The report added that, in the current period, top five ports in the USA accounted for 59.76 percent of Nigeria’s U.S trade, stating that the imports coming to the Port of Houston rose 3.96 per cent to $365.72 million, while exports rose 4.24 percent to $364.65 million.
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