‘Nigeria Exports To Indonesia Now $700m’
Director of the Indonesian Trade Promotion Centre, Hendro Jonathan, said Nigeria exported goods worth 700 million dollars to Indonesia last year.
He explained that while Nigeria’s total export to the Asian country was $700 million, its import from Indonesia $300 million.
He described the trade volume as a positive growth sign for both countries, adding that the Nigeria-Indonesia conversation has been about the value as against the volume of trade.
Jonathan disclosed this at a briefing in Lagos to announce the Equipment and Manufacturing West Africa (EMWA) 2021 exhibition, themed ‘Industrialisation and Innovation: Revitalising the Industrial Sector to Unlock Nigeria’s Potential’.
He further stated that for Indonesia to close up the trade balance with Nigeria there is a need for the country to export more commodities to Nigeria.
He said: “Nigeria sells more to Indonesia. Therefore, the trade balance is more positive on the Nigeria side than Indonesia. However, we are increasing our export gradually and hope to be at the same level as Nigeria.
“We import crude oil, used cartons, rubber latex from Nigeria and export pharmaceutical products, palm oil, paper products, printing materials, vehicle tyres and textile to Nigeria.”
On his part, the Managing Director, Zenith Exhibition, Joseph Oru, said Nigeria has within five years shown progress in manufacturing but called for government’s support, especially as finance has been a major challenge to the growth of the sector.
He said that the exhibition, which would take place from April 27 to 29, 2021, will support recovery efforts, adding that it would also be an opportunity to learn and network.