Nigeria Records U.S.$17 Billion Trade Deficit in 2020

9 March 2021

Nigeria's trade with other countries worsened in 2020, resulting in a trade deficit of N7.37 trillion for the year, following sharp declines in exports of crude oil, solid minerals and manufactured goods.

The huge trade deficit resents 317 percent decline when compared with the trade surplus of N2.32 trillion recorded in the 2019.

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