Export And Its Components
Export and Components (US$ Million)
Sharp drop in export, post-2014Q3
Import and its Components (US$ Million)
Considerable drop in imports, 2016
Export and its Components: In 2015 and 2016Q1, overall export earnings declined significantly to a record low of less than $3000 million in 2016Q1, as against the peak of above $10,000 million in 2008 and 2013. This is largely on the account of falling crude oil price, production and export.
Import and its Components: Overall import declined considerably in 2015 and 2016Q1, due to the scarcity of FOREX and depreciation of the naira which made imports highly expensive.
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On average, Nigerias GDP growth rate has averaged about 5 percent; attaining an unusual trough of nearly -10 percent in 2003Q4 and a peak of nearly 20 percent in 2004Q4. However, the Nigerian economy
Gross Domestic Product Growth Rate: The information and communication sector has grown overtime but witnessed an unusual decline in 2011, which has remained low in 2016Q1 possibly due to declining con
Business Confidence Index: After its peak in 2011, business confidence fell sizeably in 2012 as well as 2015Q2. Most recently, BCI has declined to a negative levels in 2016Q1 and Q2. The recent declin
Tax Collected: Tax revenue which has relatively maintained an upward trend, fell considerably in 2015 and dipped significantly in early 2016 on the account of economic downturn, as many businesses sev
