FCSL WEEKLY MARKET REPORT -13TH SEPTEMBER, 2019

ECONOMY
Nigeria’s Aggregate Trade Merchandise for Q2 increased by 4.4%
Nigeria’s aggregate trade merchandise for the second quarter of 2019 stood at N8.603 Billion, which represent just a 4.4% quarter on quarter growth, while this represent a 24.2% growth on a yearly basis. The aggregate traded value for the period has 46.6% attributed to imports and 53.4% attributed to exports, however value of imports has maintained a steady rise since mid–year 2018, as against a relatively stable export value since year 2018, while this trend has been attributed to slower growth in the value of crude oil prices along with decline in the value of non-crude oil exports. On half year basis, a slight decline of 0.5% Y-on-Y was recorded on crude export trade value, while Y-on-Y basis for non-crude export value recoded about 3% decline. According to NBS data reveals that the country’s second quarter major export partner was India followed by Spain and least trading export partner being France United States, while major import trade partner was China and United State and the least trading partner was Belgium and India. Read More