{"id":22375,"date":"2021-04-16T16:36:54","date_gmt":"2021-04-16T15:36:54","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=22375"},"modified":"2021-04-16T16:45:45","modified_gmt":"2021-04-16T15:45:45","slug":"just-in-wto-ranks-nigeria-number-one-importer-in-africa","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/04\/16\/just-in-wto-ranks-nigeria-number-one-importer-in-africa\/","title":{"rendered":"JUST IN: WTO ranks Nigeria number one importer in Africa"},"content":{"rendered":"

The World Trade Organisation (WTO) says Nigeria is the number one importer of commercial services in Africa.<\/p>\n

This was revealed in WTO\u2019s data on the \u2018Leading Exporters and Importers of Commercial services excluding intra-EU Trade 2020\u2019, released on Friday.<\/p>\n

According to the data, in 2020, Nigeria ranked number of 25 largest importer of commercial services in the world, while Egypt emerges second in Africa<\/a> and number 28 globally .<\/p>\n

However, Nigeria is absent on the list of top exporters of commercial services in the world, while Egypt and Morocco made the list of top 30 exporters worldwide among African countries.<\/p>\n

Both countries (Egypt and Morocco) emerged number 26 and 27 respectively as the largest exporters of commercial services worldwide.<\/p>\n

Meanwhile, United States (US) ranked first as the top commercial importer and exporter of goods, the United Kingdom (UK) followed as the second largest exporter of goods with China, India and Singapore.<\/p>\n

Similarly, China, UK, Japan and Singapore joined US as the top countries for importation of goods in 2020.<\/p>\n

WTO said: \u201cThe impact of the pandemic on merchandise trade volumes differed across regions in 2020, with most regions recording large declines in both exports and imports.<\/p>\n

\u201cRegions rich in natural resources saw the largest declines in imports, including Africa (8.8 percent), South America (9.3 percent) and the Middle East (11.3 percent), probably due to reduced export revenues as oil prices fell around 35 percent\u201d.<\/p>\n

The trade organisation projects that Africa\u2019s export will grow by 8.1 percent in 2021 and 3.0 percent in 2022, however, it says that depends on travel expenditures picking up over the course of 2021, which would strengthen demand for oil.<\/p>\n

WTO further projects that Africa\u2019s import will likewise grow to 5.5 percent in 2021 and 4.0 percent in 2022, while gross domestic product (GDP) market exchange rate will grow to 2.6 percent and 3.8 percent this year and in 2022 respectively\u2014 after a decline of 2.9 percent in 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

The World Trade Organisation (WTO) says Nigeria is the number one importer of commercial services in Africa. This was revealed in WTO\u2019s data on the \u2018Leading Exporters and Importers of Commercial services excluding intra-EU Trade 2020\u2019, released on Friday. According to the data, in 2020, Nigeria ranked number of 25 largest importer of commercial services […]<\/p>\n","protected":false},"author":13,"featured_media":22384,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[5,2],"tags":[3582,5781,303,2555],"class_list":["post-22375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-national","tag-business","tag-importer","tag-nigeria","tag-wto"],"yoast_head":"\nJUST IN: WTO ranks Nigeria number one importer in Africa<\/title>\n<meta name=\"description\" content=\"The World Trade Organisation (WTO) says Nigeria is the number one importer of commercial services in Africa\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/04\/16\/just-in-wto-ranks-nigeria-number-one-importer-in-africa\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JUST IN: WTO ranks Nigeria number one importer in Africa\" \/>\n<meta property=\"og:description\" content=\"The World Trade Organisation (WTO) says Nigeria is the number one importer of commercial services in Africa. 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