Nigeria-Japan Trade Hits $321 Million

• Nigeria-Japan Trade Hits $321 Million

The size of Nigeria and Japan trade has risen in recent months, according to the information from the Japan External Trade Organisation.

Shigeyo Nishizawa, the Trade Commissioner and Managing Director, Japan External Trade Organisation, said Nigeria’s import from Japan dropped by 1.6 percent in 2017 to $320.8 million, while export to the world’s third-largest economy declined by 7.5 percent to $783.1 million.

However, he expressed confidence in Africa’s biggest market and attributed the decline in trade between the two countries to the drop in natural gas imports, low harvest of sesame seeds in Nigeria and weak demand for some goods.

He further stated that the Embassy of Japan will be setting up Japan Pavilion at the Lagos International Trade Fair 2018, in collaboration with JETRO.

“An exciting moment for this year is what we call ‘Made in Japan, Made for Women’ corner. We are setting up a special zone at the Japan pavilion featuring a collection of products and services created by Japanese companies for women in Nigeria,” he added.