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

Ghana Overtakes India as Nigeria’s Biggest Export Destination

-

- Advertisment -

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.”

ReplyReply to allForward

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

ECOWAS Hails, Supports Adesina For Second Tenure As AfDB President

The Economic Community of West African States (ECOWAS) has endorsed the candidacy of African Development Bank President Akinwumi Adesina...

Ugbana Oyet: The Nigerian-born chartered engineer who keeps order in the British Parliament

Nigerian-born Ugbana Oyet is the new Serjeant-at-Arms (Sergeant-at-arms) in the British House of Commons. The 43-year-old chartered engineer, who is said...

Ndi Kato: The brutal Attack on Deji Adeyanju – We Remember This Day

23rd December 2019, there is a two minutes, 20 seconds video on the internet, of a brutal attack on activist...

UNDERCOVER INVESTIGATION: The Lagos hospital wards of deadly wait (I)

Editor's Note : This is BUSINESSDAY INVESTIGATION LEAD STORY For two weeks, TEMITAYO AYETOTO embedded herself with patients at the accident...

Ghana Overtakes India as Nigeria’s Biggest Export Destination

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

Africa Magic Viewers’ Choice Award (AMVCA): Odugbemi Returns As Head Judge

Ahead of the next edition of Africa Magic Viewers’ Choice Award (AMVCAs), Africa Magic has announced the return of...

Must read

Japan, UNEP to Embark on Mercury Emission Survey in Nigeria

Japan and the United Nations Environment Programme (UNEP) would...

Africa Netpreneur Prize Initiative Announces Top 10 Finalists

The Africa Netpreneur Prize Initiative (ANPI) has identified the...
- Advertisement -

You might also likeRELATED
Recommended to you

%d bloggers like this: