Foreign Trade Through Maritime Rose 91 To N130.8trn

Foreign trade throughmaritime transport rose by 91 percent, Year-on-Year, YoY to N130.75 trillion in 2024 from N68.44 trillion in 2023.

Vanguard analysis of data on Foreign Trade in Goods by National Bureau of Statistics, NBS showed that exports dominated, accounting for 59.94 per cent of total foreign trade through maritime.

According to NBS data, total exports through maritime rose by 116.3 per cent YoY to N78.38 billion in 2024 from N36.24 billion in 2023.

In the first quarter of 2024, Q124, exports rose by 196.3 per cent YoY to N19.02 billion in Q124 from N6.42 billion in Q123.