Nigeria has been ranked among top importers from China between 2007 and 2020.
According to statistics by CEIC Data, an ISI Emerging Markets Group Company, the average monthly imports from China stood at $628 million.
For instance, Nigeria total Imports from China recorded 1.441 USD billion in December 2020, compared with 1.712 USD billion in November of the same year. The highest import figure was $ 1.712 billion in November 2020 and a record low of $7.073 million in June 2009.
Also, the Observatory of Economic Complexity (OEC), an online data visualisation and distribution platform focused on the geography and dynamics of economic activities noted that in 2019, China exported $15.5 billion worth of goods to Nigeria.
The main products exported from China to Nigeria were Telephones ($526million), Rubber Tyres ($360million), and Light Pure Woven Cotton ($301million).
During the last 24 years, the exports of China to Nigeria have increased at an annualised rate of 21.3percent, from $151million in 1995 to $15.5billion in 2019.
In 2020, Chinese Ambassador to Nigeria, Zhou Pinjiang, said Chinese imports from Nigeria last year increased by more than 70 per cent .
The envoy made this known during events to mark the Chinese New Year also known as Spring Festival, held in Abuja.
“China-Nigeria relations have been very productive and we face new opportunities to grow relations. There is the Forum of China Africa Cooperation (FOCAC) framework.