Yiwu Market Export enterprises need attention

Now, with the implementation of the Central Bank of Nigeria's foreign exchange control measures, has shown some effect, Naira depreciation trend has been curbed, foreign exchange reserves increased slightly. Foreign exchange control measures to calm market sentiment, stable exchange rate has played a positive role. But in the long term, as oil and gas are the most important source of Nigeria's foreign exchange earnings and the main pillar of the economy, the Nigerian currency is highly correlated with international prices, and the market widely expected international oil prices will remain at a relatively low level in the short term. Yiwu market The current foreign exchange control measures can withstand Naira depreciation trend uncertainty is still large. Nigeria's central bank does not rule out the possibility in the future promulgation of new exchange control measures, exchange risk or will further increase.

Affected devaluation policy, the Nigerian buyer willingness and ability to pay was severely affected, highlighting the risk probability. January to July 2015, under the Nigeria Country item reported losses totaling 244 cases, an increase of 82%. Overall, the Nigerian economy has increased risk and exchange rate risk, overall country risk levels tend to negative.

In this regard, China Export & Credit Insurance Corporation recommends that exporters need to pay close attention to the Nigerian economy, trade policies and to the market environment; Yiwu Futian Market give priority to credit, D / P and other relatively safe method of payment, enhance business exchange earnings tracking; use policy export credit insurance instruments to prevent foreign exchange risks.