China and India have once again cemented their positions as Nigeria’s top trading partners, leading the country’s import market in the fourth quarter of 2024, according to the latest report from the National Bureau of Statistics (NBS).
China remains Nigeria’s largest import source, contributing significantly to the country’s industrial and consumer goods supply, while India follows closely behind. The majority of these imports include electronics, machinery, textiles, industrial equipment, pharmaceuticals, and processed food products, playing a crucial role in Nigeria’s economic landscape.
A closer look at the Q4 2024 trade data shows the top five sources of Nigeria’s imports:
China – N4.61 trillion (27.80% of total imports)
India – N1.90 trillion (11.43%)
Belgium – N1.39 trillion (8.35%)
United States – N1.06 trillion (6.36%)
France – N601.28 billion (3.62%)
With China and India maintaining their dominance, Nigeria’s trade dynamics continue to reflect global supply chain trends, highlighting the growing economic ties between these nations.
