News
Nigeria, China trade hits $8.76b in 2011
The value of trade between Nigeria and China was $8.76 billion as at October, Mr Rong Yansong, the Economic and Commercial Counselor at the Chinese Embassy has disclosed. Yansong, who made this known in Abuja on Wednesday, said that the figure was expected to increase to $10 billion by Dec. 31. He said that the $10 billion benchmark represented a 42.34 per cent increase as compared to $7.77 billion recorded in 2010.
He said that trade between both countries cuts across all sectors of the nation’s economy. According to him, the trade is mainly in crude oil, free zone projects, iron and steel, manufacturing, agriculture, fishery and pharmacy as exports from Nigeria. He said that mechanical and electronic products accounted for 60 per cent of China’s import into Nigeria. Rong said that Nigeria was China’s fourth largest trading partner in Africa with an export value of $1.07 billion representing an increase of 19.5 per cent over the figure in 2010.
-
Economy1 day agoNigeria’s Digital Boom needs nuclear power partnerships for long-term success
-
News1 day agoCardoso formally receives Central Bank of the Year Award
-
Uncategorized1 day ago
June 12 Democracy Day declaration not enough, as citizens wallow in pain – ActionAid, FG declares Friday public holiday
-
Finance4 hours agoElon Musk becomes world’s first trillionaire as SpaceX shares soar on stock market debut
-
Oil and Gas1 day agoNNPC is house of thieves, fraud; Kyari must be arrested dead or alive to account for N210 trillion—Oshiomhole
-
Oil and Gas1 day agoDangote Refinery seeks $1bn private placement ahead of planned listing
-
Stock Market4 hours agoFG to raise N4trn bond to settle electricity debt
-
News1 day agoMiddle East Conflict sends global growth to lowest rate since COVID-19, WBG to Provide up to $100bn for Affected countries over 15 Months—WBG