The NBS stated that, “The value of the export trade continues its growth trend totalling N3.91 trillion in the fourth quarter 2017 representing an increase of 9.4 per cent over the value of N3.576 trillion recorded in the preceding quarter, and an increase of 31.3 per cent over the value of N2.979 trillion recorded in the fourth quarter of 2016. “The structure of the export trade is heavily dominated by crude oil, liquefied natural gas, and other petroleum gases, which contributed N3.699 trillion or 94.6 per cent to the value of total domestic export trade in the fourth quarter of 2017. Crude oil alone contributed N3.254 trillion, representing 83.2 per cent of total exports during the period under review, while natural liquefied gas contributed N416.6 billion, representing 10.6 per cent of the total exports in fourth quarter 2017. “Exports by section similarly show that Nigeria exported mainly mineral products, which accounted for N3.772 trillion or 96.5 per cent of the total export value for fourth quarter 2017.” “Other products exported by Nigeria includes prepared foodstuffs; beverages spirits and vinegar; tobacco at N36.7 billion or 0.9 per cent of total exports, and products of the chemical and allied industries at N25.5 billion or 0.7 per cent of total exports.”
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