Home Business Nigeria’s trade deficit rises to $2.5bn

Nigeria’s trade deficit rises to $2.5bn

by Kunle Awosiyan
Emefiele

CBN, Economic Report for January, 2021 has shown. that Nigeria’s trade deficit rose month-on-month by 49 percent to $2.5 billion in January from $1.69 billion in December last year.

This comes even as foreign trade stood at $8.14 billion during the period, the Central Bank of Nigeria,

According to the report, Capital importation also dropped by 31 percent to $380 million in January from $550 million in December 2020.

However, aggregate external trade improved marginally by 3.2 percent during the period.

 

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