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 • Nigeria's External Trade: 1964 (A Review) • Tables 1 to 16 (covering Total Trade, Index Numbers, Quarterly Imports/Exports, Exports/Imports by Commodity Sections, Major Commodities, Direction of Trade, Balance of Trade, and Trade with O.A.U. Countries) • Appendices A through F (Yearly Imports and Exports, Monthly Imports and Exports, Principal Export and Import Commodities, and Direction of Trade Imports and Exports alongside charts)
Description
The Review of External Trade Nigeria 1964, published by the Federal Office of Statistics in Lagos, provides a comprehensive statistical evaluation of Nigeria's international merchandise trade for the year 1964 alongside historical comparative data. Prepared under the direction of the Federal Ministry of Economic Development, the report highlights that national commerce achieved record highs, with imports surging to £254.3 million and total exports reaching £214.6 million. This expansion was largely driven by increased trade volumes and slightly higher prices, although the terms of trade experienced a minor deterioration. Because import demand grew at a faster pace particularly driven by heavy capital inflows of machinery, transport equipment, and industrial producer goods reflecting strong national development momentum the trade deficit widened to approximately £39.7 million. The publication details structural changes in trade composition, noting that crude petroleum emerged as a major growth engine surging to £32.1 million, while traditional crops like cocoa maintained leading export values. Furthermore, the document assesses directional trade patterns with the United Kingdom, European Economic Community member states, Japan, the United States, and Organization of African Unity (O.A.U.) nations. Supported by extensive statistical tables and time-series appendices, this official publication remains an essential reference for researchers and policymakers studying mid-1960s Nigerian economic planning.