The Nigeria’s Terms of Trade for all commodities, recorded a light decline of 0.03 percentage points in the third quarter of 2023, Q3’23.
The Q3’23 performance indicates a lower rate of decline with the implication that the fourth quarter, Q4’23, may likely show the indices in positive territory.
Findings from the National Bureau of Statistics, NBS, data on Commodity Prices Indices and Terms of Trade showed that it has been on a negative trend since Q3’22 of last year when it recorded a fall of 0.50 percentage points from an increase of 0.11 percentage points in Q2’22.
In its Q3 ’23 Commodity Prices Indices report released yesterday, NBS said that the decline in Q3’23 was as a result of a 0.04 percentage points decline in ToT in September.
The bureau also said that the All Commodity Group Import Index increased by 0.21 per cent in Q3’23 and its Export Index increased by 0.18 per cent