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The diplomatic relations between the Federal Republic of Nigeria and the Republic of Indonesia date back to 1965, when Indonesia opened its resident diplomatic mission in Lagos. In 1976 Nigeria reciprocated by opening its mission in Jakarta. Nigeria was the first Sub-Saharan African country that established a diplomatic mission in Indonesia. [2]
This is a list of countries by net goods exports, also known as balance of trade, which is the difference between the monetary value of a nation's exports and imports over a certain time period. [1] The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1 .
As of June 2019, it stands at US$1 =NGN357. In recent years, Nigeria has expanded its trade relations with other developing countries such as India. Nigeria is the largest African crude oil supplier to India – it annually exports 400,000 barrels per day (64,000 m 3 /d) to India valued at US$10 billion annually. [164]
It is defined as the sum of the balance of trade (goods and services exports minus imports), net income from abroad, and net current transfers. A positive current account balance indicates the nation is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower from the rest of the world.
China is Indonesia's biggest trade partner and a major source of foreign investment, while China relies on Southeast Asia's largest economy for mineral resources and sees it as a key partner in ...
Trade between China and Indonesia is on the rise, especially after the implementation of ACFTA since early 2010. Indeed, while in 2003 trade between Indonesia and China reached only US$3.8 billion, in 2010 it multiplied almost 10 times and reached US$36.1 billion. [125]
Balance of trade is the difference between the monetary value of a nation's exports and imports of goods over a certain time period. [1] Sometimes services are also considered but the official IMF definition only considers goods. The balance of trade measures a flow variable of exports and imports over a given period of time. The notion of the ...
The balance of trade is heavily in favour of Saudi Arabia, because of its oil and gas exports to Indonesia. Migrant worker abuse and death sentences faced by Indonesian workers in Saudi Arabia are the main problems that strained diplomatic relations between two countries. Sri Lanka: 6 August 1952: See Indonesia–Sri Lanka relations