Nigeria’s trade with the United States suffered a sharp blow in July as American imports of Nigerian goods dropped by 41 percent, falling from $639 million in June to $379 million. The contraction highlights the fragility of Nigeria’s trade relations with one of its most important global partners.
US exports to Nigeria also weakened, sliding from $919 million in June to $584 million in July. Despite the fall, Washington retained a trade surplus of $206 million with Nigeria, though this was down from $280 million the previous month.
Also Read: Customs Approves $300 Duty-Free Limit on Low-Value Imports
Analysts link Nigeria’s difficulties partly to President Donald Trump’s new tariff measures, which raised duties on Nigerian exports under a reciprocal tariff policy. The wider picture showed US imports from Africa increasing overall, even as Nigeria lost ground in a shifting and more competitive trade environment.
Leave feedback about this
You must be logged in to post a comment.