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Nigeria’s Trade Relations
Taking part in the global economy
Nigeria’s international trade plays an important role in its economy, and the country is working to extend trade relationships and diversify exports. Exports for the moment remain dominated by petroleum, while imports include manufactured goods, chemical products, machinery, transport-related items and food.The country’s exports are estimated at 58.2% of GDP for 2008, up from 56.4% in 2007, while imports were 35.6% of GDP in 2008, up from 36.7% in 2007. Nigeria’s major export markets are the USA, Spain, Brazil and France, and its primary import sources are China, the USA, the Netherlands and the UK. Nigeria is a member of the World Trade Organisation, the International Monetary Fund and the World Bank, as well as the African Development Bank, OPEC and the African Union.
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