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Analysis on the Resemblance between Export and Import Commodities Price Index in Nigeria
Current Issue
Volume 2, 2014
Issue 1 (February)
Pages: 1-9   |   Vol. 2, No. 1, February 2014   |   Follow on         
Paper in PDF Downloads: 21   Since Aug. 28, 2015 Views: 1870   Since Aug. 28, 2015
Authors
[1]
Bilesanmi A. O., Department of General Studies, Petroleum Training Institute, Effurun-Delta State, Nigeria.
[2]
Aronu C. O., Department of Statistics, Nnamdi Azikiwe University, Awka-Nigeria.
Abstract
This study examined the resemblance between export and import commodities price index in Nigeria. The source of data employed in this study is secondary data obtained from Central bank of Nigeria Statistical Bulletin 2010. The statistical tools employed were the Mantel test statistic and the Bar chart analysis. From the result of the analysis it was found that commodities price index for export and import in Nigeria has about 67% resemblance and a significant measure of 0.07 which falls on the acceptance region of the hypothesis; assuming a 95% confidence interval. Also, from the graphical expression, it was observed that across the years import commodities price index has been greater than export commodities price index. This result implies that export and import commodities price index in Nigeria has a positive resemblance which can be attributed to the recent adoption of the diversification psychology by the Nigerian government and at present has not yielded full benefits that can enable export commodities price index close on import commodities price index in Nigeria.
Keywords
Export, Price index, Mantel test, Import, Resemblance, Commodities, Diversification
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