In Q2 2024, Nigeria spent ₦12,473.53 billion on imports, accounting for 39.11% of its overall commerce. During this time, Nigeria traded with a number of countries within and outside of Africa. The West African country imported a wide variety of items from these countries.
In the second quarter of 2024, Nigeria imported goods from African countries worth ₦555.48 billion, while its export value within the continent stood at ₦2,356.01 billion.
Most of what the West African giants imported from its fellow African states, according to the National Bureau of Statistics, includes gas oil, petroleum bitumen diammonium hydrogen orthophosphate and Butanes, among other things.
Additionally, Nigerian exports to its fellow ECOWAS member nations totaled ₦1,667.33 billion, while imports were ₦166.37 billion.
Nigeria’s largest ECOWAS trading partner was Togo (₦75.73 billion), followed by Ivory Coast (₦63.43 billion), Ghana (₦20.79 billion), Niger (₦3.21 billion), and Senegal (₦1.07 billion), accounting for 98.72 percent of all imports from the area.
With that said, here are the five African countries Nigeria imported the highest value goods from.
Top 5 African countries Nigeria spent the most money from in Q2 2024
Rank
Country
Import value
1.
South Africa
₦155.62 billion
2.
Togo
₦75.73 billion
3.
Ivory Coast
₦63.43 billion
4.
Egypt
₦55.68 billion
5.
Equatorial Guinea
₦53.07 billion
Source link : https://africa.businessinsider.com/local/markets/top-5-african-countries-nigeria-spent-the-most-money-on-in-q2-2024/dmed2k6
Author :
Publish date : 2024-10-02 17:00:13
Copyright for syndicated content belongs to the linked Source.
