Nigeria Trade by Ian Horner https://padlet.com/ianhorner3/fjpyz6654mj55mi8 Exploring Comparative Advantage en-us 2020-09-02 16:18:43 UTC 2024-05-26 18:02:53 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/462038059/57fa1a25ca4892ec026c6cdeb69c08a7/3ff0dd0579f5fb218121bc796169b7f3.png International Trade g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766634176 2020-09-22 02:21:41 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766634176 Imports g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766635956 2020-09-22 02:22:16 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766635956 3 largest imports g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766654339 2018: 1. Petroleum oils, refined (22.64%)  2. Wheat and meslin (2.89%)  3. Cars (2.72%)
2002: 1. ICT (17.99%)   2.Transport (5.62%)    3. Travel and tourism (5.32%)

2007: 1. ICT (15.65%)  2. Travel and tourism (11.61%)  3.Transport (10.39%)
2008: 1. Travel and tourism (14.73%)   2. Transport (10.41%)  3.ICT (10.01%)
2009: 1. ICT (13.55%)   2. Transport (11.61%)   3. Travel and tourism (9.52%)

How does the pattern change:
From 2002 to 2009, The main import in Nigeria is about service which is the tertiary. It seemed like Nigeria lacked the technology of ICT, so it imported It around 15% a year. When the time passed by, the import of ICT decreased, and in 2018, the import goods changed a lot that Nigeria import more goods produced in the primary and secondary industries instead of getting services. ]]> 2020-09-22 02:29:35 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766654339 Export g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766661390 2020-09-22 02:32:28 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766661390 3 largest exports g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766672142 2018: Petroleum oils, crude; petroleum gases; petroleum oils, refined.
2002: Petroleum oils, crude; petroleum gases; petroleum oils, refined.

2007: Petroleum oils, crude; petroleum gases; petroleum oils, refined. 
2008: Petroleum oils, crude; petroleum gases; petroleum oils, refined.
2009: Petroleum oils, crude; petroleum gases; petroleum oils, refined.

The 3 largest exports remain unchaged these years.]]> 2020-09-22 02:37:01 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766672142 value of the imports g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766680781 Import: 
2002 $16.6B
2007 $48.2B
2008 $66.4B
 2018 $42.3B

How it changes:

]]> 2020-09-22 02:40:44 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766680781 value of the exports g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766685415 Export: 
2002 $17.9B
2007 $60.0B
2008 $82.8B
2018 $57.3B
How it changes:
The general trend of the export is increasing, except for 2008, 2013, and 2015. 

]]> 2020-09-22 02:42:47 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766685415 Trading Partners g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766689723 2020-09-22 02:44:23 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766689723 Top 3 main trading partners (highest to lowest) g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766691860 2018:India, Spain, United States
2002:United States, Spain, Brazil

]]> 2020-09-22 02:45:20 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766691860 3 main things trade with these partners g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766699445 2018 India: medicaments, packaged; motorcycles; cars
Spain: Mixed alkylbenzenes/ Petroleum oils, refined/Unglazed ceramic flags and pavers
United States: Cars,Petroleum oils, refined,Commodities not specified according to kind
2002 :
US: Wheat and meslin, Other floating structures, Parts for use with hoists and excavation machinery
Spain: 
Brazil:Sugarcane & sucrose, Buses, Petroleum oils, refined]]> 2020-09-22 02:48:49 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766699445 Goods from different industry g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766702846 Primary: Wheat and meslin
Secondary: Petroleum oil, refined; Cars
Tertiary: ICT; Transport; Travel and tourism]]> 2020-09-22 02:50:35 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766702846 Goods from different industry g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766709238 Primary: N/A
Secondary: petroleum oils, crude; 
Tertiary: N/A]]> 2020-09-22 02:53:34 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766709238 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766726453 2020-09-22 03:03:24 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766726453 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766729502 2020-09-22 03:05:15 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766729502 Others g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766741645 2020-09-22 03:12:41 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766741645 Comparative advantage (explanation) g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766743654 Crude oil: Petrolium crude Oil 
Petrolium crude Oil ratios 67%  for its comparative comparative. 

]]> 2020-09-22 03:14:00 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766743654 A notable thing that is not exported or imported (2018) g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766745810 Import: ICT; Tourism & Traveling; 
(before 2018, this is a crucial part for the Nigeria, around 7 to 8 percent of the economy. However, in 2018, due to the restriction of trade along the borderline in order to prevent black market, this component has fallen to zero. 

export: Tourism & Traveling (similar reason to that of import) 

Source: 
https://nairametrics.com/2020/03/09/nigerias-trade-balance-hits-recession-low-records-n579-billion-deficit-in-q4-2019/

]]> 2020-09-22 03:15:20 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766745810 Interesting trading relationship g3213958606 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766747479 China : Nigeria imports the largest proportion of commodities from China (importing goods including vehicles...) Noticeably, this is due to the construction of one belt one road investment. China's involvement in the development of Nigeria economy is controversial. On one hand, it brings opportunity and resources (including raw materials and public infrastructures) . However, it makes Nigeria more rely on China. ]]> 2020-09-22 03:16:27 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/766747479 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/831395246 2020-10-15 07:12:27 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/831395246 ADDTIONAL QUESTIONS https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/831397110 2020-10-15 07:13:20 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/831397110 What are the 3 largest imports from China and the gross value? https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/831423264 Woven fabrics of synthetic filament yarn $576M
Women’s suits and pants $472M
Wigs $287M
]]> 2020-10-15 07:24:54 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/831423264 financial account yrhu_emily https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834523848 2020-10-16 02:10:41 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834523848 largest sector that China has invested in Nigeria yrhu_emily https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834525760 2020-10-16 02:11:42 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834525760 transportation yrhu_emily https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834528355 2020-10-16 02:13:02 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834528355 smallest sector that China has invested in Nigeria yrhu_emily https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834534312 2020-10-16 02:15:58 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834534312 agriculture yrhu_emily https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834535737 2020-10-16 02:16:46 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/834535737 yrhu_emily https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/835661747 2020-10-16 14:14:04 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/835661747 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836045608 2020-10-16 15:54:49 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836045608 Does your country have a trade deficit or surplus with China in 2018? https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836045807 Import $13.4B
Export $1.79B
Trade Surplus  $1.79B-$13.4B=$-11.61B
]]> 2020-10-16 15:54:53 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836045807 Trade Position https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836065382 China’s export to Nigeria ($13.4B) exceeds that from Nigeria to China ($1.79B). Therefore, Nigeria’s current account for goods is negative, so they are in great trade deficit in goods for China. 
China’s export to Nigeria ranks 11/145 among their exporting countries, and Nigeria’s export to China ranks 35/206 among their exporting countries. Nigeria has fewer exporting options, therefore it relies  on China more heavily.  ]]> 2020-10-16 16:00:10 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836065382 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836071209 2020-10-16 16:01:41 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836071209 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836075800 2020-10-16 16:02:55 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836075800 What is the 3 largest exports to China and the gross value? https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836087653 2. Petroleum gas (1.02B), Rough wood(242M), Crude petroleum(237M)

]]> 2020-10-16 16:05:51 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/836087653 it may be primarily portfolio or direct investment? https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/837324814 Based on the nature of investment sectors, there may be primarily direct investment in Nigeria. Transport, a kind of direct investment, is the biggest sector of Chinese investment in Nigeria. The investment of  transport is about investment on building roads and subways. It is a kind of direct investment because roads and subways are physical assets. Also, energy, real estate, technology are the main part of investment in Nigeria. Moreover, there is no investment in the sector of finance, so no portfolio investment which invests non-physical assets doesn't primarily exist here. ]]> 2020-10-17 03:19:43 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/837324814 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/837327105 2020-10-17 03:23:32 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/837327105 "REAL" FOREX ianhorner3 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/837500737 2020-10-17 09:35:02 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/837500737 Here is the website to get the "real" exchange rate ianhorner3 https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/837500906 https://www.economist.com/news/2020/07/15/the-big-mac-index]]> 2020-10-17 09:35:25 UTC https://padlet.com/ianhorner3/fjpyz6654mj55mi8/wish/837500906