The RMMXI import index is a measure that tracks changes in the prices of imported raw materials over time. It is used to monitor and analyse the price dynamics of raw materials purchased from foreign countries.

The RMMXI import index is typically calculated by comparing the prices of a specific basket of imported raw materials in different time periods. The index is often expressed as a percentage relative to a base period, allowing for comparisons of price changes over time.

These RMMXI measures change in the prices of various Raw Materials ranging from primary, secondary and tertiary raw materials imported into the country or exported out of the country over a period of time. These raw materials are classified according to harmonized system codes (HS Codes) from 01-97. The indexes are created from the import and export data generated from the Nigeria customs services.

This report will help study the relative changes in prices of raw materials import in sectoral view. The indexes provide information as to the strength of the nation’s industrial expenditure, the demand for Nigeria goods abroad and the rate of rising import prices. This report has considered 2017 – 2022 as the period under review using 2016 as the base year. This publication helps to measure the changes when compare to the base year, which corresponds to the index value of 100.