China Is Nigeria’s Highest Import Partner, Total Trade At N6.2bn In Q2 – NBS
By Amie T. Camara
Afrinity Production discloses to you on the demand for goods and services from China drastically on it’s increase as the Asian country tops the list of import trading partners by 31.41% in the second quarter of 2020, the latest data from Nigeria’s statistics agency shows.
This is despite the sharp fall in the value of the country’s total trade to N6.24 billion, representing 27.30% in Q2, against the 27.46% level recorded in the corresponding quarter, and 27.46% year-on-year.
The report however stated that imported goods in agriculture, raw material, solid minerals, manufacturing, and energy all increased by 59.01%, 85.69%, 35.51%, 4.69%, and 591.47% respectively, with other oil products imports recording a decrease by 82.32% in Q2.
It is a different tale for export items as the total goods which left the shores of Nigeria dropped by 45.64% in Q2, lower than the 51.73% recorded in the corresponding year.
Meanwhile, Spain topped the export trading countries by 14.00%, followed by Netherlands, China India, and South Africa.
China, United States, India. Netherlands and Germany made the top five list of major import trading partners in Q2, 2020.