{"id":26048,"date":"2020-06-09T18:55:53","date_gmt":"2020-06-09T18:55:53","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=26048"},"modified":"2020-06-09T18:55:53","modified_gmt":"2020-06-09T18:55:53","slug":"breaking-nigeria-records-n138-98bn-trade-deficit-in-q1","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1","title":{"rendered":"BREAKING: Nigeria records N138.98bn trade deficit in Q1"},"content":{"rendered":"<p>Nigeria recorded N138.98bn trade deficit in the first quarter of 2020, according to figures from the National Bureau of Statistics.<\/p>\n<p>The NBS stated this in its report on \u2018Foreign trade in goods statistics\u2019 for the first quarter of 2020, which was released on Tuesday.<\/p>\n<p>Part of the report read, \u201cThe value of Nigeria\u2019s total trade stood at N8.3tn in Q1, 2020.<\/p>\n<p>\u201cThis was 17.94 per cent lower than the value recorded in Q4, 2019 but 0.80 per cent higher than the value recorded in Q1, 2019.<\/p>\n<p>\u201cThe import component of this trade was valued at N4.22tn or 50.8 per cent, while the export component totalled N4.08tn indicating 49.2 per cent of the total trade.<\/p>\n<p>\u201cA trade deficit of N138.98bn was recorded during the quarter, marking two consecutive quarters of negative balance of trade, as the value of imports surpassed exports.\u201d<\/p>\n<p>The report noted that the consecutive quarters of negative trade balances (and lower imports and exports) occurred against the backdrop of a global slowdown in economic activity as a result of the COVID-19 pandemic.<\/p>\n<div data-owo-type=\"widget\" data-owo-code=\"9b0ba25c-5faa-433c-af72-a94897eb2780\" data-owo-mode=\"smart3\" data-already-used=\"true\" data-owo-token=\"9b0ba25c-5faa-433c-af72-a94897eb2780-1\">\n<div class=\"owo-main-wrapper\">\n<div class=\"owo-wrapper\"><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria recorded N138.98bn trade deficit in the first quarter of 2020, according to figures from the National Bureau of Statistics. The NBS stated this in its report on \u2018Foreign trade in goods statistics\u2019 for the first quarter of 2020, which was released on Tuesday. Part of the report read, \u201cThe value of Nigeria\u2019s total trade [&hellip;]<\/p>\n","protected":false},"author":62,"featured_media":26051,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1451],"class_list":["post-26048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-covid-19"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BREAKING: Nigeria records N138.98bn trade deficit in Q1 - Nigeria<\/title>\n<meta name=\"description\" content=\"Nigeria recorded N138.98bn trade deficit in the first quarter of 2020, according to figures from the National Bureau of Statistics.The NBS stated this\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: Nigeria records N138.98bn trade deficit in Q1\" \/>\n<meta property=\"og:description\" content=\"Nigeria recorded N138.98bn trade deficit in the first quarter of 2020, according to figures from the National Bureau of Statistics.The NBS stated this\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-09T18:55:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2020\/06\/images.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"168\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alico\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"alico\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1\"},\"author\":{\"name\":\"alico\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"headline\":\"BREAKING: Nigeria records N138.98bn trade deficit in Q1\",\"datePublished\":\"2020-06-09T18:55:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1\"},\"wordCount\":180,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2020\/06\/images.jpg\",\"keywords\":[\"COVID-19.\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-nigeria-records-n138-98bn-trade-deficit-in-q1\",\"name\":\"BREAKING: Nigeria records N138.98bn trade deficit in Q1 - 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