Trade between Egypt and Nigeria experienced remarkable growth during the year 2020. This significant growth translated into a total of $ 181 million, including 1 million imports from Nigeria to Egypt, an increase of 45%.
According to the head of Nigeria’s trade office, Amr Tantawy, in a statement made Tuesday at a seminar on “Opportunities for Developing Egyptian Furniture Exports to Nigeria”, there is a boom in most items of goods. Egyptian exports to Nigeria, to save about $ 180 million.
“Nigeria has a local furniture industry which covers between 50-60% of the market needs, but there is still an opportunity to export with competition from China, noting that the size of the domestic furniture product is around $ 442 million, ”notes Tantawy. He also points out that there is an opportunity to get acquainted with the Nigerian market in the coming period, at the Lagos exhibition to be held from November 5 to 14, in which Egypt is expected to participate.
The most common import partners for Egypt are China ($ 12.5 billion), Russia ($ 5.46 billion), the United States ($ 5.06 billion), Saudi Arabia ($ 5.05 billion) and Germany ($ 4.05 billion).
