Nigeria's Q3 2023 foreign trade skyrockets by 55%, the biggest jump in 38 quarters
With a trade surplus of ₦1.88 trillion in Q3 2023, Nigeria marked a 55% increase in foreign trade — the most significant leap in 38 quarters. This chart, spanning from Q1 2014 to Q3 2023, illustrates this progress.
For every $1 Ghana earns from pharmaceutical exports, it spends about $22 on imports, underscoring the country’s overwhelming dependence on foreign pharmaceutical products.
Ghana is a net importer of medicine and has been for nearly two decades.
By 2015, Ghana’s pharmaceutical imports reached its peak with $348.12m while exports were $3.10m, meaning imports were nearly 100 times larger.
In 2016, Ghana recorded its highest-ever export performance at $78.33 million, but even then, imports stood at $154.96m, almost two times higher.
In 2023, Ghana recorded $91.9m in ceramic exports, amassing $19.9m profit, after 17 years of consistent trade losses and heavy dependence on imported ceramic products.
For 17 years, Ghana’s ceramic market was largely import-driven, with local industries struggling to compete against foreign products.
Ghana's ceramic products trade recorded $1.397 billion in trade deficit in almost two decades.
Ghana's ceramic industry has finally moved from dependency to a driver of profit and progress.
Over the past two decades, Egypt exported roughly twice as much ceramic products as it imported, positioning itself as a key player in regional and global ceramic products trade.
In 2012, exports peaked at $488.51 million, more than double imports at $178.23 million, setting a clear demonstration of strong industrial and commodity output.
In 2008, exports soared to $325.86 million, more than doubling imports at $126.21 million.
Between 2017 and 2021, the export sector showed stable performance, averaging $327 million annually.
The year 2021 was a standout, with exports reaching $401.12 million, reflecting a strong rebound that reaffirmed Egypt’s export capacity post-pandemic.
