Review of External Trade Nigeria 1964
Date
1964
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Lagos: Federal Office of Statistics,
Abstract
• Foreword
• Main Findings
• Total Trade and External Trade Index Numbers
• Seasonal Movements and Quarterly Trade
• Exports by Commodity Sections and Major Commodities
• Imports by Commodity Sections (Food, Beverages & Tobacco, Mineral Fuels, Chemicals, Manufactured Goods, Machinery & Transport Equipment, Miscellaneous Manufactured Articles)
• Direction of Trade and Balance of Trade
• Trade with O.A.U. Countries
• Appendices (A through F: Yearly Imports and Exports, Monthly Imports and Exports, Principal Export Commodities, Principal Import Commodities, Direction of Trade Imports, Direction of Trade Exports)
Description
The Review of External Trade Nigeria 1964, published by the Federal Office of Statistics in Lagos, provides a comprehensive statistical analysis of Nigeria's international merchandise trade performance for the year 1964, featuring extensive comparative historical data. Prepared under the guidance of the Federal Ministry of Economic Development, the report highlights a record-breaking expansion in national commerce, noting that imports surged to £254.3 million while total exports reached £214.6 million. This growth was propelled substantially by increased trade volumes and slightly higher prices, although the terms of trade experienced a minor deterioration. Because import demand grew at a relatively faster pace driven particularly by heavy inflows of machinery, transport equipment, and industrial producer goods the nation's merchandise trade deficit widened to approximately £40 million. The publication details structural shifts in export composition, noting that crude petroleum emerged as a major growth catalyst, surging from £20.1 million in 1963 to £32.1 million, whereas traditional agricultural commodities like groundnuts and raw cotton encountered fluctuations or shifts toward domestic consumption. Furthermore, the document evaluates directional trade patterns, detailing commercial engagements with the United Kingdom, European Economic Community (E.E.C.) member states, Japan, the United States, and Organization of African Unity (O.A.U.) countries. Bolstered by detailed statistical tables and time-series appendices covering monthly trade flows and commodity indices, this official government document stands as an essential primary reference for economists, policymakers, and researchers investigating mid-1960s Nigerian economic planning and development.