The world’s third busiest port, Ningbo-Zhoushan port in China maintained strong volume growth in the Chinese New Year holiday month of January 2023.
The port posted a container volume of over 3 million TEU in the first month of 2023. It is the second time that the port’s monthly container volume surpassed 3M TEU after July 2022, hitting a new high comparing with the previous years.
Moreover, it has strengthened business connections with shipping companies and alliances since the beginning of this year and has opened a new service for China’s Belt and Road Initiative.
According to the data from the General Administration of Customs of China, the total value of China's exports to Nigeria in 2021 was approximately $18.4 billion USD. This represents an increase of around 8.5% from the previous year.
The main products that China exports to Nigeria in 2021 are similar to previous years and include:
Electrical machinery and equipment: This category accounted for approximately 28% of China's total exports to Nigeria in 2021.
Vehicles: China also exports a significant number of vehicles to Nigeria, including cars, trucks, and motorcycles. This category accounted for approximately 14% of China's total exports to Nigeria in 2021.
Iron and steel: China also exports a substantial amount of iron and steel products to Nigeria, including iron rods and sheets, as well as steel pipes and tubes.
Textiles: China is a major exporter of textiles, including fabrics, clothing, and footwear. This category accounted for approximately 7% of China's total exports to Nigeria in 2021.
Plastics: China also exports a variety of plastic products to Nigeria, including plastic bags, bottles, and other containers.
It's worth noting that Nigeria remains an important market for Chinese exports, but the economic impact of the COVID-19 pandemic can have an impact on trade flows between the two countries.
Sources:
General Administration of Customs of China --- Website
Bank of Nigeria – website
Trademap website
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