News Across Business Ghana Overtakes India as Nigeria’s Biggest Export Destination

Ghana Overtakes India as Nigeria’s Biggest Export Destination

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A new report by the National Bureau of Statistics (NBS) has shown that Ghana is now Nigeria’s biggest export destination.

The report published in December shows that Ghana overtook India in the third quarter of 2019.

The latest report is coming against the backdrop of recent border closure in the country.

In Q3 2019, Nigeria’s top 10 trade partners are Ghana, India, Netherlands, Spain, United States, France, South Africa, Italy, China and Canada.

According to the latest report, Ghana imported N876.5 billion non-crude oil products from Nigeria, while crude oil export stood at N32.02 billion in Q3 2019 only. By this, Ghana imported 17.18% of Nigeria’s total export in three months.

India, now dropping to the second position imported a total of N775.6 billion of Nigeria’s goods. N694.8 billion crude oil from Nigeria and N80.8 billion on non-crude oil.

In the third place, Netherlands accountted for 9.82% of the total goods exported by Nigeria in the third quarter of 2019.

“Spain is Nigeria’s fourth-biggest export market, with an estimated N454.6 billion in the third quarter of 2019. This represents about 8.60% of the total value of exported goods.

“The United States once again returned to Nigerian oil, as the country emerged Nigeria’s fifth biggest export destination. It country imported N322.2 billion (6.28%) goods from Nigeria, with crude oil constituting N329.8 billion.

“France is Nigeria’s 6th biggest export market, accounting for 5.02% of the total goods exported from Nigeria. The total export comprises N201.4 billion worth of crude oil products and N63.8 billion worth of non-crude oil goods.

“South Africa accounted for 4.92% of the total value of goods exported in Q3 2019 from Nigeria, with N259.7 billion on crude oil and N512 million worth of non-crude oil exports.

“In the first quarter of 2019, Italy accounted for 3.77% of the total value of Nigeria’s export. Basically, crude oil export to Italy was valued at N190.6 billion and non-crude oil products export were estimated at N8.54 billion.

“China makes the list of Nigeria’s biggest export countries. In Q3 2019, Nigeria exported N168.2 worth of goods to China.

“Canada completes the top 10 list with N149.5 billion worth of exports from Nigeria.”

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