A total of 31. 41 per cent of goods imported into Nigeria are from China , according to the National Bureau of Statistics .
The NBS stated in its report on ‘ Foreign trade in goods statistics ’ for second quarter of 2020, that Spain topped the list of Nigeria ’ s exported goods .
Part of the report read , “ Nigeria ’ s imports, by country of origin, shows goods were imported mainly from China ( N 1. 26tn or 31. 41 per cent) , United States ( N 428. 9bn or 10. 66 per cent ) , India ( N 322. 3bn or 8. 01 per cent) , and the Netherlands ( N 202. 9bn or 5. 04 per cent ) respectively .
“ The value of exports in Q 2, 2020 stood at N 2. 22tn, a decrease of 45. 64 per cent compared to Q 1, 2020 and 51. 73 per cent compared to Q 2, 2019.
“ The year to date export amounted to N 6. 3tn , representing a 31 per cent decline compared to 2019.
“ Exports by section revealed that mineral products accounted for the largest portion of exports , amounting to N 1. 87tn or 84. 35 per cent , mainly due to the crude oil component. ”
This section , it noted, was followed by vehicles aircraft and parts ( N 221. 2bn or 9. 96 per cent ) and others .
Analysis of export by region revealed that Nigeria exported most products to Europe ( N 976. 5bn or 44 per cent) , followed by Asia ( N 734. 1bn or 33. 08 per cent ) , Africa ( N 401. 4bn or 18. 1 per cent) , America ( N 105. 8bn or 4. 8 per cent) and Oceania ( N 1. 7bn or 0. 08 per cent ) .
Within Africa , goods worth N 149. 3bn were exported to ECOWAS member states .
All regions recorded declines in the value of exported goods during the quarter, although China and Japan each recorded increased export activity .
The NBS stated, “ Exports by country of destination showed that Nigeria exported goods to Spain valued at ( N 310. 8bn or 14 per cent) , Netherlands ( N 243. 7bn or 10. 98 per cent) , China ( N 220. 4bn or 9. 9 per cent) , India ( N 195. 6bn or 8. 8 per cent) and South Africa ( N 172. 2 or 7. 7 per cent ) .
During the quarter , total trade in agricultural goods stood at N 493. 7bn, of which exported agricultural goods accounted for N 78. 1bn.
Analysis by economic region showed that most agricultural goods were exported to Asia , Europe and America valued at N 43. 6bn, N 26. 4bn and N 6. 6bn .
The key driver of agricultural products exports were superior quality raw cocoa beans , sesamum seeds , cashew nuts , good fermented cocoa beans and more.
The main consumers of superior quality cocoa were The Netherlands ( N 9. 3bn) , Indonesia ( N 3. 7bn) and United States ( N 2. 4bn) .
Other agricultural exports were Sesamum seeds exported to Japan ( N 6bn) and to China ( N 2. 3bn) .
Also , cashew nuts worth N 12bn were exported to Vietnam .
In terms of imports, durum wheat worth N 41bn was imported from United States , Russia ( N 28. 8bn) and Latvia ( N 24. 5bn) .
The value of manufactured goods trade in Q 2, 2020 stood at N 3. 04tn .
Out of this , the export component accounted for N 254. 2bn.
The products that drove up manufactured export were light vessels, fire floats , floating cranes exported to Spain in the value worth N 129bn.
