Wednesday, November 09, 2011

Nigeria, a Net Exporter of Plastics

Plastemart is reporting that Nigeria has now become a net exporter of plastics. [*] This is no small feat as the country has the 31st largest economy in the world, and this is all just a result of the oil production. Petroleum contributes only 14% of the production in the country. More than anything, it represents the internal development of facilities to manufacture the plastic pellets and capture the added value in the product, rather than just selling the petroleum as a raw material.

All facts on the Nigerian economy were taken from Wikipedia

[*] It is not explicit in the article, but the focus appears to be about the resin pellets, as opposed to products made of plastic. If final products, packaging materials, adhesives and whatever else is made of plastic were considered in the trade balance, I have to believe that the net balance would be in the opposite direction.

No comments: