Nigeria trade in the Global market record a drop of 50.8 percent which meant the nation records $930 million in April 2022 from $1.89 billion in march . reason been that result of 8.4 percent decline in total to $10.79 billion by April from $11.78 billion in March. This is as a declaration of the Central Bank in its monthly economic Report for the month of April denoting a fall in the Crude Oil exportation which declined buy percent to $4.5 billion in April from $5.32 billion in march.
This stated by the Central Bank that Global Inflation and the general decline and uncertainties in the crude oil sector led to the decline in the National Trade in Global Market, showing that aggregate export receipt fell by 14.3 percent to $5.38 billion from $6.29 billion in March , Likewise Goods import fell by 0.3 percent to $4.07 billion, from $4.08 billion in march denoting declination of 13.6 percent. Showing by dis-aggregation i.e Crude Oil export receipt fell by 15.3 percent to $4.51 billion in comparation to $5.32 billion in March .
As a result of the decrease in the price of reference crude Oil of the Nation , the Bonny Light. Non Oil export trade decline is as a result of the unrest in Eastern and Central Europe , causing a decline of 18.5 percent reduction in non-oil export receipt in comparation to $0.74 billion relative to March value.
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