SUN, JAN 19 2020-theG&BJournal- Nigeria’s All commodity group import index grew by 2.48%on average between July and September, according to the National of Bureau of Statistics (NBS). The index rose 1.43% in September after increasing 1.05% the previous month, due to increases in prices of Base metals and articles of base metals; Articles of stone, plaster, cement, asbestos, mica, ceramic; and Plastic and rubber.
The NBS said the main drivers of the change between July and August were Paper making material; paper and paperboard (7.65%), Textiles and textile articles (6.24%) and Prepared foodstuffs; beverages, spirits and vinegar; tobacco (5.99%). This was partially offset by Footwear, headgear, umbrellas, sunshades, whips (- 5.49%), Vegetable products (-5.04%) and Wood and articles of wood, wood charcoal and articles (-4.17%).
In September, 2019 the all commodity group import index rose 1.43%. This was driven by Base metals and articles of base metals (15.81%), Vegetable products (7.94%) and Articles of stone, plaster, cement, asbestos, mica, ceramic (7.33%). These increases were offset by Textiles and textile articles (-8.28%), Paper making material; paper and paperboard (-8.07%) and Prepared foodstuffs; beverages, spirits and vinegar; tobacco (-7.92%).
The All commodity group export price index also increased marginally by 0.12% between July and September, attributed to increases in the prices of Raw hides and skins, leather, furskins etc.; saddlery, Prepared foodstuffs; beverages, spirits and vinegar; tobacco, as well as Base metals and articles of base metals. The monthly changes showed that the All commodity export index declined 0.12% in September, after increasing 0.24% in August.
The 0.24% increase in August was driven by Raw hides and skins, leather, furskins etc.; saddlery (15.14%), Prepared foodstuffs; beverages, spirits and vinegar; tobacco (12.86%) and Plastic, rubber and articles (10.45%). This was offset by decreases in Vegetable products (-13.67%) and Footwear, headgear, umbrellas, sunshades, whips etc (-6.63%).
The monthly change in September of All commodity export index stood at -0.12%.This decrease was mainly due to decreases in the prices of Plastic, rubber and articles thereof (-13.32%), Live animals; animal products (-6.94%) and Vegetable products (-5.82%).
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