Types of Goods and Services UK Trade With Nigeria.

Types of goods and services UK trade with Nigeria weigh the heaviness of the business bond shared by one of the richest African country, Nigeria, with the United Kingdom, its colonizer.

With a population of over 200 million and a Gross Domestic Product (GDP) of £498 billion in 2021 (World Bank, 2021), Nigeria has the largest population and economy in Africa. Nigeria is the second largest African market for UK goods. The Nigerian economy grew by 6.7% in 2021, and it is predicted to expand by 1.4% before the end of 2022. This should lead to increased spending power among the Nigerian population, which in turn should benefit UK exporters.

Nigeria is among the largest markets for UK exports. Currently, there is no existing trade deal between the United Kingdom and Nigeria, but the two countries trade under World Trade Organization terms, with a ‘Most Favored Nation’ status granted to the UK.

In 2020, trade goods dispatched to Nigeria from the UK were worth around 1.3 billion U.S. dollars, a slight decrease on the year prior. The value of goods imported from Nigeria to the UK saw similar fluctuations, Nigeria had a slight trade surplus from its trade activities with the UK.

The United Kingdom is one of the most important import partners for Nigeria. Among the leading goods that the UK sends to Nigeria are mineral fuels and lubricants. Let us therefore take a look at some of those types of goods and services often exchanged between the two countries.

Types of Goods and Services UK Trade With Nigeria.

  1. Mineral fuels, oils, distillation products
  2. Aluminum
  3. Bird skin, feathers, artificial flowers, human hair
  4. Cocoa and cocoa preparations
  5. Plastics
  6. Rubbers
  7. Milling products, malt, starches, wheat gluten
  8. Cereal, flour, starch, milk preparations and products
  9. Edible vegetables and certain roots and tubers
  10. Wood and articles of wood, wood charcoal
  11. Paper and paperboard, articles of pulp, paper and board
  12. Raw hides and skins (other than furskins) and leather
  13. Copper
  14. Products of animal origin
  15. Ores slag and ash
  16. Tanning, dyeing extracts, tannins, derivatives, pigments
  17. Articles of apparel, knit or crocheted
  18. Furskins and artificial fur, manufactures
  19. Residues, wastes of food industry, animal fodder
  20. Glass and glassware
  21. Ships, boats, and other floating structures
  22. Optical, photo, technical, medical apparatus
  23. Miscellaneous chemical products
  24. Essential oils, perfumes, cosmetics, toileteries
  25. Inorganic chemicals, precious metal compound, isotope
  26. Explosives, pyrotechnics, matches, pyrophorics
  27. Footwear, gaiters and the like
  28. Wadding, felt, nonwovens, yarns, twine, cordage
  29. Ceramic products
  30. Vehicles other than railway, tramway
  31. Photographic or cinematographic goods
  32. Base metals not specified elsewhere, cermets
  33. Articles of leather, animal gut, harness, travel good
  34. Furskins and artificial fur, manufactures

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