World Trade Organization (WTO) has listed Nigeria as the 25th highest importer of commercial services in the world, even as the organization placed the country as the first in Africa in that category.
According to data released by the WTO, Friday, the report showed that Nigeria was the highest importer of commercial services in Africa for the year 2020.
WTO currently headed by a Nigerian, Dr. Ngozi Okonjo-Iweala, ranked Nigeria 25th in the global list of importers of commercial services.
In Africa where the country topped the list, Egypt came second, even as the North African nation ranked 28th in the world.
Incidentally, while Nigeria missed out on the list of the world’s top exporters of commercial services, two African countries, Egypt and Morocco, made the list.
The United States of America ranked first in the global commercial importers’ list. The US is followed by China, the United Kingdom and Japan.
On the global exporters’ list, the US also topped the list followed by the UK, China and India.
Commenting o the development, WTO disclosed that the preliminary estimates were based on quarterly statistics.
“Figures for a number of countries and territories have been estimated by the Secretariat. Data for 2020 are not yet available for the United Arab Emirates. In 2019, commercial services exports were valued at US$72 billion and imports at US$73 billion,” the WTO disclosed.