From 2013 to 2023, the share of transport services in commercial service imports in Nigeria has shown significant fluctuations. The highest point was in 2016 at 52.07%, and the lowest in 2019 at 17.82%. The year-on-year variation reached its peak in 2016 with a 23.09% increase, and its lowest in 2017 with a -50.55% drop. The CAGR saw notable changes, with the highest in 2023 at 16.7% and the lowest in 2019 at -13.87%. Looking ahead, from 2024 to 2028, the forecasted share stabilizes around 44.62%, reflecting a consistent but modest growth trend of 0.04% CAGR.
Future trends to watch for include:
• Potential impacts of global economic shifts on Nigeria's import structure.
• Technological advancements in transport services.
• Policy changes affecting trade and transportation sectors.
