Post by Trade facilitator on Apr 3, 2012 14:45:12 GMT 1
Sesame seeds exports’ value in Nigeria’s merchandise trade increased remarkably in the fourth quarter 2011 to N32.38 billion, making it the highest ranking nonoil (agricultural) commodity contributor to the total exports value which stood at N7.13 trillion during the quarter under review.
Available statistics on the ranking of the non-oil exports just published by the National Bureau of Statistics showed that Sesame seeds exports added higher value than superior quality raw cocoa beans, cashew nuts, leather further prepared after tanning, Cigarettes containing tobacco, Tanned or crust hides and skins of other in the wet state, unwrought Aluminium alloys and Frozen shrimps and prawns, amongst other commodities.
However, the value was lower than the combined value of Superior quality raw cocoa beans and cocoa beans, whole or broken, raw or roasted which stood at about N60.05 billion during the review period.
A further decomposition of the exports value of the agricultural commodities indicated that superior quality raw cocoa exports accrued N32.07 billion while Cocoa beans, whole or broken raw or roasted’s export value was N27.98 billion.
Leather further prepared after tanning or of goats or kids had an export value of N19.49 billion compared with Cashew nuts, in shell, fresh or dried’s value which increased to N18.51 billion.
Other exports value showed that Cigarettes containing tobacco was N18.42 billion while tanned or crust hides and skin of other in the wet state (including wet-b) raked in N15.63 billion as export proceeds.
Tanned or crust hides and skins of other in the dry commodity’s value stood at N8.61 billion as against the N5.73 billion raked in from frozen shrimps and prawns during the three month period ended December 2011.
According to the latest Revised 2010 and Estimates for Q1-Q4, 2011, Gross Domestic Product for Nigeria, the value of non-oil exports grew with N2.31 trillion or 176.6 per cent in Q4, 2011 relative to the corresponding period in 2010, thus sustaining its contribution as a major driver of the in the past three years.
When compared with the corresponding quarter in 2010, the sector recorded 9.07 percent growth in real terms and the growth was largely driven by improved activities in the telecommunications, Building and Construction, Hotel & Restaurant, Business services and other sectors.
On an aggregate basis, the economy when measured by the real Gross Domestic Product (GDP), grew by 7.68 percent in the Q4, 2011 as against 8.60 per cent in the corresponding quarter of the preceding year.
The Bureau attributed the 0.92 per cent point decrease in real GDP growth during the review period to production shut-down in the oil sector, adding that on a nominal basis, the GDP for the Q4, 2011 was estimated at about N10.05trn as against the about N9.46trn in Q4, 2010.
Source: nationalmirroronline.net/business/business-and-finance/35475.html?print
Available statistics on the ranking of the non-oil exports just published by the National Bureau of Statistics showed that Sesame seeds exports added higher value than superior quality raw cocoa beans, cashew nuts, leather further prepared after tanning, Cigarettes containing tobacco, Tanned or crust hides and skins of other in the wet state, unwrought Aluminium alloys and Frozen shrimps and prawns, amongst other commodities.
However, the value was lower than the combined value of Superior quality raw cocoa beans and cocoa beans, whole or broken, raw or roasted which stood at about N60.05 billion during the review period.
A further decomposition of the exports value of the agricultural commodities indicated that superior quality raw cocoa exports accrued N32.07 billion while Cocoa beans, whole or broken raw or roasted’s export value was N27.98 billion.
Leather further prepared after tanning or of goats or kids had an export value of N19.49 billion compared with Cashew nuts, in shell, fresh or dried’s value which increased to N18.51 billion.
Other exports value showed that Cigarettes containing tobacco was N18.42 billion while tanned or crust hides and skin of other in the wet state (including wet-b) raked in N15.63 billion as export proceeds.
Tanned or crust hides and skins of other in the dry commodity’s value stood at N8.61 billion as against the N5.73 billion raked in from frozen shrimps and prawns during the three month period ended December 2011.
According to the latest Revised 2010 and Estimates for Q1-Q4, 2011, Gross Domestic Product for Nigeria, the value of non-oil exports grew with N2.31 trillion or 176.6 per cent in Q4, 2011 relative to the corresponding period in 2010, thus sustaining its contribution as a major driver of the in the past three years.
When compared with the corresponding quarter in 2010, the sector recorded 9.07 percent growth in real terms and the growth was largely driven by improved activities in the telecommunications, Building and Construction, Hotel & Restaurant, Business services and other sectors.
On an aggregate basis, the economy when measured by the real Gross Domestic Product (GDP), grew by 7.68 percent in the Q4, 2011 as against 8.60 per cent in the corresponding quarter of the preceding year.
The Bureau attributed the 0.92 per cent point decrease in real GDP growth during the review period to production shut-down in the oil sector, adding that on a nominal basis, the GDP for the Q4, 2011 was estimated at about N10.05trn as against the about N9.46trn in Q4, 2010.
Source: nationalmirroronline.net/business/business-and-finance/35475.html?print
