Nigeria’s used automobile imports elevated by 226.46 per cent to N1,063 trillion in 2023 in comparison with N325.05 billion recorded in 2022.
The Nationwide Bureau of Statistics disclosed this in its mixed commerce information for 2023.
An evaluation of the info confirmed that between 2022 and 2023, used automobile imports elevated by N736 billion.
Within the first quarter, Nigeria’s whole used automobile imports stood at N72.32 billion, which decreased to N69.48 billion within the yr underneath evaluation.
Nevertheless, within the second quarter of 2023, there was a hike in automobile exports from N96.76 billion recorded in 2022 to N733.91 billion.
Within the third quarter of 2023, this determine dropped to N138.50 billion, whereas the corresponding quarter of 2022 stood at N90.77 billion.
For the final quarter of 2023, Nigeria imported used autos valued at N121.82 billion. This was virtually double the worth of auto imports recorded in 2022 at N65.19 billion.
reporter reported that the overall overseas commerce in 2023, together with imports and exports, stood at N69.81 trillion.
