Export Earnings Fell To $13.39bn in April — CBN

International Money Transfer Operators

The country’s total export earnings fell by 14.9 per cent to $13.39bn in April due to decline in crude oil prices. The Central Bank of Nigeria (CBN) disclosed this in its monthly economic report for the month of April, which was obtained on Friday. Part of the report read, “Because of the decline in the price of crude oil in 2020Q1, aggregate export earnings declined by 14.9 per cent and 12 per cent to $13.39bn, compared with $15.74bn and $15.22bn in Q4 and 2019 Q1 respectively. Export of crude oil…

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Nigeria records N126bn trade deficit in Q1’20 – NBS

Air transport’s contribution to GDP slumps by 11.8%

As 3-month importation from china gulps N1.1trn _____________________________ Nigeria has recorded a trade deficit of N125.77 billion in the first quarter of 2020 after the country imported goods worth N1.9 trillion against exported commodities worth N1.8 trillion in the period under review. This is revealed in the latest report by the National Bureau of Statistics (NBS) titled, ‘Commodity price indices and terms of trade Q1,’ which also indicated that said importation were higher than exports by N124.77 billion The five countries with highest bilateral deal as sources of importation to…

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