Theory question 105
Transport, Trade and Tourism(a)(i) Name any one country in Europe that trades with Nigeria (ii) Identify any two commodities exported by each trading partner (b) State four benefits which both countries derive from their trade relations (c) Highlight any four problems facing the trade between the two countries in (a)(i) above
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(a)(i) e.g. United Kingdom (or Germany, France, Netherlands). (ii) Nigeria exports crude oil, cocoa, rubber; UK exports machinery, vehicles, chemicals, textiles/drugs.
(b) Each obtains goods it cannot produce; foreign exchange; markets for industries; employment; better relations and exchange of technology; higher standard of living.
(c) Nigeria exports mainly raw materials with low prices; unfavourable balance of trade for Nigeria; fall in value of the naira; tariffs and trade restrictions; shortage of foreign exchange; poor quality of some exports; political problems.
Name a real European partner.