Nigeria exports goods worth N145.7billion to U.S between February and April 2020

Nigeria has exported goods valued of N145.7billion (323.8million dollars) to the United States between February and April 2020, according to a news report by newtelegraphng.com.

Despite the outbreak of the coronavirus pandemic, the country also recorded a trade deficit of N190.3billion (422.8million dollars) with the United States within the period.

According to the report, the United States imports from Nigeria fell 47.14 percent through the first four months of the year as exports to Nigeria decreased by 4.35 percent.

In its latest data, the United States Census Bureau (USCB) explained that the United States trade deficit with Nigeria was 1.43 billion dollars in the first four months of the year.

The bureau explained that in January 2020, the United States exported 186.9million dollars worth of goods to Nigeria, while 177million dollars goods received by Lagos ports and other seaports.

 Also, it added that in February, export from the U.S stood at 244.2million dollars as Nigeria recorded 138.9million dollars, leading to a deficit of  105.3million dollars between the two countries.

As of March, some export goods, which reached Nigerian Ports, were valued at 272million dollars, while imports to the United States reached 103.6million dollars, leading to a trade deficit of 168.4million dollars between the two trading countries.

In April, 230.3million dollars exports from the U.S came to Nigerian ports, while imports received by U.S ports stood at 81.3million dollars. The bureau stated that the deficit in April between both countries was 149million dollars.

It stressed that gasoline, LNG, other petroleum gases and lead, accounted for 95.18 percent of the inbound shipments from Nigeria between January and April, noting that gasoline, other fuels rose 13.27 percent compared to last year to 50.11 million dollars.