Business Nigeria's Export to China Increases by 117%



The trade volume between Nigeria and China in the first six months of 2014 is $11.76 billion, Consul General of the Peoples Republic of China, Mr. Liu Kan, yesterday said in Lagos at the 65th anniversary of the founding of his country.

He also noted that Nigeria’s export to China during the period rose by a significant 117.9 per cent, higher than all the export from Nigeria to China in the whole of the previous year, 2013.

“In the first half of the year, the trade volume between China and Nigeria reached $11.76 billion, among which the import from Nigeria to China increased by 117.9 per cent, which surpassed the total for last year,” Kan stated.

Noting that Nigeria now is the biggest export market for China, and the third largest partner in Africa, the envoy said, the advantages of the Nigeria economy attract more Chinese enterprises to invest and develop in the giant West African nation.

According to him, by the end of 2013, non-financial direct investment from China to Nigeria amounted to $1.79 billion, with hundreds of Chinese enterprises in Nigeria not only working hard to develop themselves, but also voluntarily embarking on Corporate Social Responsibility (CSR) efforts, creating significant number of jobs and transferring urgently needed skills to Nigerians, THISDAY reports.

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