Effect of shipping trade on economic growth in Nigeria: the Vector Error Correction Model (VECM) approach

Abstract The maritime industry is significant to the growth and development of nations. relationship between shipping trade economic in Nigeria acknowledged literature. Still, need emphasise role import export volume exchange rate volatility Nigeria’s remains. level that a nation will derive from its ocean depends on volumes face volatility. Using Vector Error Correction Model, this study analyses effect 1970 2020. examines seaport imports, exports, real rates GDP determine if sustainable, current pattern imports exports for not hamper future development. cointegration test established short- long-term causality import, GDP. result showed import-dependent that, long run, significantly affect further indicates present does contribute growth. results imply building an system import-dominated sustainable recommended strategic initiatives maintain while promoting through local production.