Imports in Nigeria

Nigeria Imports | Economic News & Forecasts

Nigeria - Imports

The economy likely remained under marked stress in Q3, following the steep GDP contraction in Q2 due to the pandemic-induced lockdowns and collapse in oil prices. According to secondary sources, crude oil output was down by over a fifth in Q3 from last year as the country increasingly stuck to OPEC+ cut commitments. Together with oil prices stagnating at weak levels in the quarter, the all-important energy sector likely continued to reel. Moreover, accelerating double-digit inflation and tight FX liquidity should have weighed on household purchasing power and general business operations. Meanwhile, leading data points to some improvement in conditions at the outset of Q4: The private sector PMI edged up on robust output and new orders growth, while firms turned markedly less pessimistic in October. That said, the outbreak of widespread violent protests that same month could have weighed on activity to some extent.

Nigeria - Imports Data

2015   2016   2017   2018   2019  
Imports (USD billion)52.3  35.2  32.7  40.8  62.1  

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Nigeria Facts

Value Change Date
Bond Yield11.100.0 %Dec 31
Exchange Rate306.53.08 %Jan 01
Stock Market0.10.0 %Jan 07

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