Nigeria (NGA) Exports, Imports, and Trade Partners

Nigeria is the 49th largest export economy in the world and the 140th most complex economy according to the Economic Complexity Index (ECI). In 2015, Nigeria exported $47.8B and imported $39.5B, resulting in a positive trade balance of $8.26B. In 2015 the GDP of Nigeria was $481B and its GDP per capita was $6k.


The top exports  as reported  by  The National Bureau of Statistics  on foreign trade for Nigeria in a paper released 2015:

  • Petro.oils and oils obtained from bituminous minerals, crude ($2,121,410,080,892.00)
  • Natural gas, liquefied ($260,699,763,637.00)
  • Petroleum gases and other gaseous hydrocarbons, liquefied ($66,441,376,215.00)
  • Propane, liquefied ($43,879,454,959.10)
  • Sesame seeds  ($21,781,746,959.00)
  • Partially refined oil including crude oil having undergone primary refinement ($13,577,043,000.00)
  • Cashew nuts, in shell,fresh or dried ($8,759,822,113.00)
  • Butanes, liquefied ($6,149,397,796.00)
  • Leather further prepared after tanning or… of goats or kids ($4,929,737,824.00)
  • Cigarettes containing tobacco ($4,886,734,105.00)
  • Urea ($4,030,992,527.00)
  • Frozen shrimps and prawns ($3,474,216,454.00)
  • Aluminium alloys, unwrought ($2,982,760,465.00)
  • Cocoa paste, wholly or partly defatted ($2,967,008,529.00)
  • Broken cocoa beans ($2,844,108,503.00)

 

The top imports also referencing the same report as above are:

  • Motor Spirit Ordinary  ($140,521,551,306.00)
  • Spelt, common wheat and meslin ($42,489,526,639.00)
  • Machine-tools for working stone, ceramics, concrete, etc ($27,761,095,339.00)
  • Imported motorcycles and cycles,imported CKD by estab manuf >50cc<=250cc
    ($26,365,422,203.00)
  • Semi-milled or wholly milled rice >5kg or bulk (investors with rice milling capability) ($425,377,257,508.00)
  • Raw cane sugar, in solid form ($25,123,246,631.00)
  • Durum wheat ($19,336,983,814.00)
  • Herbicides, ant-sprouting products and plant- growth regulators ($17,016,192,296.00)
  • Unused postage, revenue or similar stamps of current or new issue in the country ($14,943,187,607.00)
  • Frozen cod (excl. livers and roes) ($13,134,452,981.00)
  • Mixtures of odoriferous substances Of a kind used in the food or drink industries ($13,080,112,460.00)
  • Other crude palm oil ($11,226,284,960.00)
  • Milk&cream in powder>1.5%fat not contain sweetening matter ($11,042,456,419.00)
  • Frozen mackerel 10,864,448,307.00
  • Reaction initiators, accelerators and catalytic preparations ($10,701,610,135.00)

The top Export destinations of Nigeria are:

  • India ($9.1B),
  • Spain ($4.63B),
  • South Africa ($4.58B),
  • Brazil ($4.14B) and the
  • Netherlands ($3.37B).

The top Import origins

Imports to Nigeria increased 49.5 percent year-on-year to NGN 758772.7 in December of 2016. Considering the fourth quarter of 2016, imports rose 46.4 percent to NGN 2307.6 billion.

Main import partners were

  • China (17.5 %)
  • Belgium (15.4 %)
  • Netherlands (10 %)
  • The United States of America (8.9 %)

Imports in Nigeria averaged 180079.15 NGN Millions from 1981 until 2016, reaching an all time high of 1554732.90 NGN Millions in March of 2011 and a record low of 167.88 NGN Millions in May of 1984.

 


Nigeria borders Benin, Cameroon, Niger and Chad by land and Ghana, Equatorial Guinea and Sao Tome and Principe by sea.

 

 

References

 

Disclaimer:

All data and information provided in this article is for informational purposes only. Altimfreeman Inv. makes no representations as to accuracy, completeness, correctness, suitability, or validity of any information in this Site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.

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