Trade with Nigeria strengthens in 2007

04 Jul '08

1 min read

Italy and Nigeria have been enjoying good trade relations for a long time. In the non oil sector, Italy is the most important business partner and tenth overall importer of various goods from Nigeria.

In an exclusive interview with Fibre2fashion, Dr Nico Longo, Acting Italy's Ambassador, stated, “About 40 percent of exports to Nigeria are made up of industrial machineries and refined petroleum products. Nigeria, on the other hand, is second most important trading partner of the country in sub-Saharan Africa, both in terms of exports and imports."

In 2007, the country exported products worth nearly 553 million Euro to Nigeria, this showcases a rise of 3.33 percent over 535 million Euro trade that took place in 2006.

Whereas, the nation imported items worth approximately 479.66 million Euro last year from Nigeria, in comparison to 420.89 million Euro in 2006. Major importing commodities remained chemicals, textiles, leather and oil.

Nigeria stands ninth among all the trading nations of Italy, others being US, Canada, Indonesia, Japan, France Spain, Brazil and India.

Fibre2fashion News Desk - India

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