TheCable

Data made available by the National Bureau of Statistics (NBS) shows that the value of false beard and eyelashes exported to the United States in the second quarter of 2019 was more than that of cocoa.

According to the Commodity Price Indices and Terms of Trade report released by the bureau, Nigeria exported false beards and eyelashes worth N649 million while fermented cocoa beans worth N250.7 million and raw cocoa beans worth N217.2 million were exported.

Nigeria sold crude oil worth N349.5 billion to the US between April and June.

India was Nigeria’s export market in Q2 2019, accounting for 17.27% (N793.9 billion) of total exports.

“The most dominant export commodity to India was crude oil valued at N724.1 billion followed by natural gas, liquefied (worth N60.4 billion), cashew nuts, in shell (N4.2 billion),” the report read.

Other top exports to India were sesamum seeds and aluminium alloy while top imports from the South Asian country are motorcycles and cycles fitted with an auxiliary motor, petrol fuel capacity, antibiotics and kerosene-type jet fuel.

Apart from India and the United States, other top trade partners of Nigeria are China, Spain, and the Netherlands.

The major imports from the top trading partners were motor spirits, used vehicles and motorcycles.

Between April and June, the all commodities group import index decreased by 0.25; which was attributed to a drop in the prices of textiles, raw hides and skin, boilers machinery and appliances.

During the period, the all commodities group export index rose by 1.02% “due to an increase in the prices of footwear, headgear, umbrellas, textiles, prepared foodstuffs, beverages, spirits and vinegar.