According to figures obtained from the National Bureau of Statistics (NBS), the value of manufactured goods imported into the country in the second quarter of 2021, has exceeded the export value by N4.37tn.

The NBS stated that the value of manufactured goods trade in Q2, 2021 stood at N4.51tn which represented 37.50 per cent of total trade.

According to the report, a total of N211.67bn accounted for the export component, while N4.3tn accounted for the import component.

The report showed that some of the products which drove up manufactures products were vessels and other floating structures for breaking up, which were exported to Cameroon in the value worth N71.9bn.

It added that vessels and other floating structures for breaking up were also exported to Spain and Equatorial Guinea in values worth N18.34bn and N6.62bn respectively.

The NBS report further stated that other products under this group were aluminium alloys, unwrought exported to Japan in the value worth N10.85bn and China (N3.63bn).

The report further detailed some of the manufactured imports as used vehicles mainly imported from United States and Italy in values worth N33.78bn and N5.74bn, Motorcycles worth N32.72bn and N61.8bn imported from China and India.

 It also detailed herbicides worth N81.17bn imported from China and polypropylene imported from South Africa, Saudi Arabia and South Korea in values worth N35.75bn, N15.46bn and N9.47bn respectively.