AN EXAMINATION OF RECENT TRENDS, COMPOSITION AND TRADE INTENSITY OF NIGERIA-BRAZIL BILATERAL RELATIONS

This paper examines the trends, composition and trade intensity of Nigeria-Brazil bilateral trade relations for the period 2000-2017. Tables, graphs, and trade intensity index were employed. The results indicate that Nigeria's trade with Brazil has significantly recorded impressive growth. However, the share of major products exported to Brazil over the period remained insignificant with the exception of mineral fuels. The results further show that the share of major products imported from Brazil is significant, indicating that Brazilian exports to Nigeria are more diversified than that of Nigeria's export to Brazil. The trade intensity index indicates high trade intensities between the countries and the high possibility of increasing bilateral trade flow. Based on these findings, the study recommends the need for Nigeria’s export to be restructured in order to reduce the prevailing role of mineral fuels to Nigeria's exports through diversification and identification of new export opportunities in Brazilian markets.