Top 5 Countries Nigerians Import Goods and products 2017/2018
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Top 5 Countries Nigerians Import Goods and products 2017/2018
Generally speaking, Nigerians import a high proportion of goods and products from other countries around the world. They also export indigenous goods and products to both neighboring and far away countries with which it operates a bilateral trade agreement.
The Countries Nigerians import
First and foremost, Nigeria which is located in West Africa in the world is the 41st largest export economy and the 119th most complex economy according to the Economic Complexity Index (ECI).
Secondly, Nigerians import several goods or products from any particular country, each country is having something that Nigeria wants for her people.
Secondly, Nigerians import several goods or products from any particular country, each country is having something that Nigeria wants for her people.
Goods and Products Nigerians import from other countries
Here are goods and products Nigerians import below:
On the first place, India: Nigerians import many products from India, and some of these products Nigerians’ import are pharmaceutical drugs, organic chemicals, nuclear reactors, machinery, paper and paperboard, iron and steel, and technical knowledge in many areas. According to the National Bureau of Statistics says Nigeria imported goods worth N408.572 billion from India in 2017.
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Secondly, China: The fact can’t be hiding that President Buhari and some of his cabinet recently in 2016 went to work out bilateral trade agreements with the Chinese. In order to build efforts of past governments to maximize trade with the major Asian country. What Nigerians import from China is electronics, mobile devices, engineering products, and technical skills for construction projects. It is estimated that China exported goods worth N1.567 trillion to Nigeria .
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Thirdly, the United Kingdom: Nigerians import fashion clothing, shoes, engineering facilities, vehicles, and hundreds of other items from the United Kingdom. It is estimated by the National Bureau of Statistics that Nigeria imported goods worth N283.759 billion from the UK.
Nevertheless, we have United States: Nigerians import hundreds of finished and unfinished products from the United States every year, and the National Bureau of Statistics estimated Nigeria took in products worth N581.99 billion from America last year. Nigerians import almost everything from America, from clothing to vehicles to electronics to electrical appliances and hundreds of other household and public items.
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And also, the Netherlands: Statistics revealed Nigeria imported goods worth N415.4 billion from the Netherlands last year, and these are clothes, bags, shoes, industrial products used in our factories. It must be pointed out that Nigeria does business with most countries of the world and imports fairly sizeable products from each, but the country wants to reduce importation so as to boost indigenous producers. The country also imports technical expertise too.
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