FBNQuest’s Post

The most recent monthly economic report published by the Central Bank of Nigeria (CBN) shows that the total value of Nigeria’s merchandise trade increased by 4% m/m to USD8.1bn in Jan ’24. Although the value of exports rose by 3% m/m to about NGN5.0bn, the higher value m/m was mainly due to a rise in imports which increased by 6% m/m to roughly USD3.2bn. Consequently, the net trade position resulted in a lower trade surplus of about USD1.8bn compared with USD1.9bn recorded in the previous month. The CBN’s monthly trade performance data is provisional and subject to revisions in subsequent monthly reports. #FBNQuestResearch

According to the most recent Statistical Quarterly Bulletin (QSB) from the Central Bank of Nigeria (CBN), Nigeria's total value of merchandise trade decreased by -7% q/q and -15% y/y to USD24.8bn in Q1 '24. The lower trade value in Q1 reflects a reduction in import and export trade value. Specifically, export trade figures declined by -5% q/q and -1% y/y to USD14.2bn. On the other hand, the value of import trade fell by -9% q/q and -29% y/y to USD10.6bn. The CBN's QSB data is provisional and, as such, is subject to revisions in subsequent series. #FBNQuestResearch

In this chat with Samson G SIMON, Ph.D., CPLP, we looked beyond the announced surplus and asked questions like: - What factors are responsible for the high increase in export YoY? - How diversified is Nigeria's export? - When adjusted for inflation and currency devaluation, is there any significant change? - What's responsible for decline in Merchandise trade? - Should we celebrate reduced import or are there underlying unimpressive factors responsible for that? Follow link and enjoy. Let me get your thoughts too in the comment section. https://lnkd.in/dbHcXpAg

Nigeria's Q1 trade surplus showcases a significant increase, yet the country continues to heavily rely on oil exports. How can Nigeria accelerate diversification to boost non-oil trade? Meanwhile, US Markets are bracing for the May inflation CPI data and FOMC meeting and policy decision. In the UK, the FCA is introducing new rules to attract listings.... plus more valuable insights. #globalbusinessinsights #businessnews #business #globaleconomics #usfomc #federalreserve #usfed #Nigeriainflation #uscpi #nigeriacpi #nigeriatradesurplus #nigeriatradedataq1 #q12024tradenigeria # UKFCA #newlistingrulesuk

Pakistan's trade deficit jumps 20.4% in Sep Pakistan's trade deficit in September 2024 has increased by 20.4% to $1.78bn as compared to a deficit of $1.48bn recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS). On a monthly basis, the trade deficit has widened 1.9% compared to a deficit of $1.75 billion recorded in August 2024. Cumulatively in the three months of fiscal year 2024-25, the trade deficit increased by 4.2% to $5.44bn as compared to a deficit of $5.21bn in 3MFY24. #PBS #FinancialGrowth #Sep2024 #BrokerageFirm #AbbasiAndCompany #PakistanStockExchange #FinancialTrading #MarketResearch #stockmarket #investmentopportunity #KSE100 #PSX #topbroker"

Business News. Food prices remain high despite steep decline in forex A disturbing factor, amidst the fluctuating forex market is the escalation of prices of food commodities which retailers always blame on the increasing dollar rates, while consumers complain https://lnkd.in/d56Z-tSv New Tariff: 11 DisCos Get Deadline To Refund Customers Wrongly Billed The Nigerian Electricity Regulatory Commission (NERC) has given 11 electricity distribution companies (DiCos) till April 11, 2024, to refund customers wrongly billed at the new rate. https://lnkd.in/dJDjbXdd African Airlines Record 20.7% Increase in Passenger Demand Latest statistics by the International Air Transport Association (IATA) has revealed that African airlines saw a 20.7% year-on-year increase in passenger demand.  https://lnkd.in/dcCN5KU2 Interest Rate, High Energy Costs Putting Businesses Under Pressure, LCCI Laments The Lagos Chamber of Commerce & Industry (LCCI), has decried the high cost of doing business in the country, including the hike in the Monetary Policy Rate (MPR) and increase in electricity tariff. https://lnkd.in/dqYX_2_V China central bank to set up $70 billion tech re-lending programme China's central bank will set up a 500 billion yuan ($70 billion) re-lending programme to support the country's science and technology sectors, according to a statement released on Sunday. https://lnkd.in/d37asJSr Damilola Hassan Lydia Amobi-Offor Ola Belgore ACIArb Michael Abiodun Thomas #finance #business #funding #trade #economy #stocks #commerce #foreignexchange #forex #tax #incentives #capitalmarkets #investment #investing #growth

According to the most recent foreign trade in goods report produced by the National Bureau of Statistics (NBS), the total value of Nigeria's merchandise trade increased by +146% y/y to almost NGN32trn in Q1 '24. However, the sharp y/y growth is misleading due to the depreciation of the naira. When adjusted for currency devaluation, the trade value declined by roughly -14% y/y in real (US dollar) terms. The total merchandise traded comprised export and import trade balances of NGN19.2trn and NGN12.6trn, respectively, resulting in a net surplus of NGN6.5trn. #FBNQuestResearch

𝐉𝐮𝐥𝐲 𝐭𝐫𝐚𝐝𝐞 𝐝𝐞𝐟𝐢𝐜𝐢𝐭 𝐬𝐮𝐫𝐠𝐞𝐬 𝟏𝟗.𝟕𝐩𝐜 𝐭𝐨 $𝟏.𝟗𝟓𝐛𝐧 𝐘𝐨𝐘 #Pakistan’s #trade deficit in July 2024 has increased by 19.7 percent year on year (YoY) to $1.95 billion as compared to a #deficit of $1.63 billion recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (#PBS).

Pakistan's #trade deficit for April has surged by 2.81x YoY to $2.374 billion as compared to a deficit of $846 million recorded in April 2023, according to data released by the Pakistan Bureau of Statistics (PBS). On a monthly basis, the trade #deficit has widened by 3.16% MoM compared to a deficit of $2.3bn recorded in March 2024. Cumulatively in the ten months of fiscal year 2023-24 (10MFY24), the #negative trade balance reduced significantly by 17.09% YoY to $19.51bn as compared to a deficit of $23.54bn in 10MFY23.

Pakistan's #trade deficit in the eleven months of fiscal year 2023-24 has reduced by 15.2% YoY to $21.73bn as compared to a deficit of $25.64bn in 11MFY23. Read the full story at: https://lnkd.in/eDXEznuV