Report sees Nigeria’s exports hit $112 billion by 2030

A new research by Standard Chartered has projected that global exports will almost double from $17.4tn to $29.7tn over the next decade, with Nigeria topping the volume for Africa.

At 9.7 per cent yearly growth rate, the report sees Nigeria’s export volume peaking at $112 billion by 2030.

The report reveals 13 markets that will drive much of this growth, identifies major corridors, and five trends shaping the future of global trade.

Commissioned by Standard Chartered and prepared by PwC Singapore, the trade report is based on an analysis of historical trade data and projections until 2030, as well as insights from a survey of more than 500 C-suite and senior leaders in global companies.

The report noted that global trade will be reshaped by five key trends: the wider adoption of sustainable and fair-trade practices; a push for more inclusive participation; greater risk diversification; more digitisation and a rebalancing towards high-growth emerging markets