Economic Integration, Trade Balances and Socioeconomic Development in Nigeria

Abstract

This article examined the link between economic integration, trade balances and socioeconomic development in Nigeria. Specifically, the work was designed to trace the trend of the variables of exports and imports, trade flows and trade balances as well as the variables of socio-economic development including the gross domestic product (GDP), unemployment and inflation rate in Nigeria from 1981 to 2013. In order to achieve this objective, the exploratory, descriptive and desk research design were used. In line with these, data were sourced from existing documents and materials including the Central Bank of Nigeria (CBN) statistical Bulletin, CBN Annual Reports and Statement of Account, CBN Bullion, Journals, textbooks, periodicals and internet-based sources.