Monday, May 17, 2021

WTO ranks Nigeria as Africa’s number 1 importer of commercial services

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The World Trade Organisation, WTO, on Friday ranked Nigeria as the number one importer of commercial services in Africa for the year 2020.

This is contained in data released by the global trade organisation led by Dr. Ngozi Okonjo-Iweala.

The organisation also ranked Nigeria as 25th commercial importer in the world.

Nigeria is closely followed by Egypt which was ranked 28th in the world.

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While Egypt and Morocco made the list of world exporters led by the United States, Nigeria was conspicuously absent in the global commercial exporters’ list.

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The US also ranked first in the commercial importers’ list followed by China, United Kingdom and Japan while US, UK, China and India topped the exporters’ list.

WTO noted that preliminary estimates were based on quarterly statistics.

“Figures for the number of countries and territories have been estimated by the Secretariat,” it said.

“Data for 2020 are not yet available for the United Arab Emirates. In 2019, commercial services exports were valued at US$72 billion and imports at US$73 billion,” WTO added.

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