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TimesLIVE
4 days ago
- Business
- TimesLIVE
Nigeria's non-oil exports jump nearly 20% in first half on cocoa, urea demand
Nigeria's non-oil exports rose 19.6% to $3.225bn (R57.09bn) in the first half of 2025, its export promotion agency said on Monday, citing global demand for products such as cocoa and urea, as well as government trade initiatives and regional trade deals. Nonye Ayeni, chief of Nigerian's Export Promotion Council, said the volume of non-oil exports increased to 4.04-million metric tons from 3.83-million tons in the first half of 2024. Products such as cocoa beans, urea/fertiliser, and cashew nuts dominated exports, with cocoa accounting for around 35% of total export value. "Cocoa and its derivatives topped Nigeria's non-oil exports, driven by rising global demand, higher prices, and increased local processing capacity," Ayeni said. The African Continental Free Trade Area also bolstered Nigeria's exports, providing wider market access and tariff relief, while government-backed initiatives like training programmes helped exporters meet international standards.
Time of India
07-08-2025
- Business
- Time of India
50% US tariff on Indian apparel exports could be death knell for small firms: AEPC
Indian apparel exporters are worried about new US tariffs. The Trump administration is doubling tariffs on Indian goods to 50 percent. Apparel Export Promotion Council fears this will devastate small businesses. They are seeking government support to offset the impact. The US is a major market, accounting for 33 percent of India's garment exports. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Seeking immediate fiscal support of the government, apparel exporters body AEPC on Thursday said the doubling of tariffs to 50 per cent by the Trump administration on Indian goods will sound the death knell for micro and medium enterprises, particularly those heavily dependent on the American Export Promotion Council (AEPC) Chairman Sudhir Sekhri said the announcement is a huge setback to the labour-intensive export industry."There is no way the industry can absorb this. I am sure the government also realises that this unreasonable increase in tariff will sound the death knell for the micro and medium apparel industry, especially those who majorly sell to the US market, unless the government steps in with direct fiscal support to the industry," he US is a key market for Indian ready-made garment exports. America accounts for 33 per cent of India's total garment exports in 2024-25, India's exports to the US from this sector include apparel-knitted (USD 2.7 billion), apparel-woven (2.7 billion), and textiles, made ups (USD 3 billion)."India's presence in the US garment import market has grown, with its share increasing from 4.5 per cent in 2020 to 5.8 per cent in 2024 and ranks fourth among the top RMG exporters to the United States ," Sekhri August 6, Washington announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50 per cent from August White House said the measure responds to India's continued purchase of Russian oil.
