The National Bureau of Statistics (NBS), has shown that Nigeria’s imports from China in the second and third quarter of 2019, (April to September) stand at N2.2tn.
According to the NBS latest report, Nigeria imported Chinese goods worth N1.02tn in the second quarter, representing 25.47 percent of total imports, while goods valued at N1.22tn representing 31.34 percent of total imports, were imported in the third quarter.
The United States came next as Nigeria’s second-largest import hub with goods worth N422.1 billion, representing 10.53 percent of the total imports.
Other trading partners were Netherlands, accounting for N374.1 billion or 9.33 percent of the total imports; India, responsible N299.8 billion or 7.48 percent and Belgium, accounting for N248.9 billion or 6.21 percent.
During the second quarter, the NBS noted that Nigeria imported N1.8tn goods from Asia, representing 44.36 per cent of total imports.
Other imports originated from Europe (valued at N1.42tn or 35.51 per cent), Americas (N544.3bn or 13.58 per cent), Africa (N241.7bn or 6.03 per cent) and Oceania (N20.7bn or 0.52 per cent).
The reported showed that the major products imported during the second quarter were machinery and transport equipment worth N1.7tn.
Other major imports during the quarter were mineral fuels, N909.7bn and chemical and related products, N428.2bn.
In the third quarter, imports from Asia were put at N1.9tn or 51.3 per cent of total imports while imports from Europe were valued at N1.2tn or 30.6 per cent; imports from Americas and Africa amounted to N576.7bn or 14.8 per cent and N106.0bn or 2.7per cent respectively.
Imports originating from countries such as the United States were put at N442.4bn; India, N292bn; the Netherlands, N265.2bn and Belgium, N155.2bn.
China remains Nigeria’s biggest source of imports but India currently stands as the nation’s biggest export market.
Major items imported from China include Natural rubber, motorcycles etc.
(C) Control TV 2020.
