What does nigeria import from other countries. 03 trillion in 2024, a 106.

What does nigeria import from other countries. Jun 25, 2020 · The United States was the fourth-largest importing country of Nigeria’s crude oil and condensate in 2019. Trading with other African nations benefits the continent's economic growth, unity and development. 26 billion US$) France with a share of 6. 62% In this economic guide to Nigeria we’ll give you an overview of the Nigerian economy, including the country’s primary imports and exports of goods and services. Nations like Russia, Saudi Arabia, and Norway are among the top energy exporters, leveraging their vast reserves of oil, natural gas, and other energy Jul 26, 2024 · Business Insider presents the top 5 African countries Nigeria imported petrol from in 2023. Increase your return on investment by locating reliable suppliers and consumers using our Africa Import Export The United States' total Imports in 2024 were valued at US$3. 93 billion in Q4 2023 and a 48. And we will make deductions based on the facts. Key import products include machinery (USD 7 billion), vehicles (USD 5 billion), and electrical machinery Mar 1, 2024 · In this study we will investigate seafood availability in Nigeria for the period 2000 to 2020 with a focus on the origin of the seafood by estimating apparent consumption. total goods trade (exports plus imports) with Nigeria was an estimated $10. Nigeria as a nation mostly imports goods/items that their domestic Nov 8, 2021 · Customs-, import- and export regulations of Nigeria - Overview The customs and excise tariff of the Nigerian Customs Service (NCS) is based on the nomenclature of the Customs Cooperation Council (CCCN). Nigeria trade balance, exports and imports by country 2020 In 2020, Nigeria major trading partner countries for exports were India, Spain, Netherlands, South Africa and China and for imports they were China, United States, India, Netherlands and Belgium. The country’s export revenue is closely tied to global demand for oil, but diversification efforts are opening up new opportunities in other industries. government introduced a new tariff schedule on imported goods. Get insights into Africa trade data and major import trends. The top three export commodities were: Mineral fuels, oils, distillation products; Cocoa and cocoa preparations and Fertilizers. Jun 2, 2025 · Explore Africa's imports by country, top importers, and key buyers in 2024-25. Nigeria Trade StatisticsView All Export/Import Trade Partners Traded Goods [1] (at the 2-digit HS Code level) Mar 22, 2025 · Nigeria-China Trade Agreement China’s economic footprint in Nigeria continues to expand, particularly through the Belt and Road Initiative (BRI) and various bilateral trade deals. Nigeria is the largest economy and the richest oil resource centre of the African continent. 25 billion US$) Canada Nigeria’s top 10 export product categories are highly concentrated accounting for 98% of the overall value of the African country’s global shipments. 97 Billion, according to the United Nations COMTRADE database on international trade. 0 billion in 2024, up 16. However, member countries, including Nigeria, can continue to employ restrictive trade policies on many food and agricultural products. Nigeria Fuels Imports by country in US$ Thousand 2022 In 2022, the top partner countries from which Nigeria Imports Fuels include Belgium, Netherlands, Norway, India and Korea, Rep. 80%, followed by India at 11. Mar 9, 2025 · The National Bureau of Statistics has said Nigeria’s top five trading export partners in the fourth quarter of 2024 were the Netherlands, France, Spain, India and Indonesia. Exports were valued at ₦10,346. 486 billion. This significant import bill highlights the country's reliance on foreign Jun 6, 2023 · Most of the demand for electrical equipment in Nigeria is met by imports, due to low production capacity and expertise in the country. This aphorism is most applicable world trade markets, as one country has to export while another has to import. Nov 16, 2023 · Japan and ten other countries import agricultural products, minerals, and commodities from Nigeria. The value of Nigeria's purchases of imported mineral fuels, including petroleum, is the fastest-growing of the top 10 import categories, thanks to a 47. Below is a breakdown of the primary categories of imports. Mar 12, 2025 · Nigeria is a major player in global trade, and its imports shows the country’s growing demand for essential goods, industrial products, and consumer items. uk Oil-rich Nigeria is sub-Saharan Africa's largest economy. Notable power sector reforms are underway in Nigeria, including plans for electrifi In July 2025 the U. Europe continued to be the largest importer by region, importing nearly 1 million b/d21 (Figure 2). Nigeria Food Imports by country and region in US$ Thousand 2020 In 2020, the top partner countries and regions from which Nigeria Imports Food include Brazil, United States, Russian Federation, Netherlands and China. Takedown request View complete answer on core. Nigeria was ranked 48th on the list of world’s top importers. Asia followed with N49. According to reports, in the third quarter of 2024, Nigeria imported goods worth N512. 94 trillion. While oil has Aug 6, 2024 · The ineffectiveness of these refineries means that Nigeria drills out crude oil and exports it to countries with functioning refineries, which are being sold back to the country in various refined Nigeria Minerals Exports by country in US$ Thousand 2022 In 2022, the top partner countries to which Nigeria Exports Minerals include China, Niger, Malaysia, Togo and Cameroon. Apr 7, 2016 · Despite being one of the world's biggest oil producers, Nigeria imports most of its fuel and is currently facing a severe shortage. Other Herbicides, Antisprouting Products, and Planting Goods These imports include herbicides and other chemicals used in agriculture to control weeds and improve crop yields. 52 billion showing an increase of 32. Two-digit codes enable higher-level insights and trends for Nigerian imports and each of the top supplier countries. To fulfill the demands of its rising population and sustain economic progress, the country relies on imports for everything from machinery and technology to consumer goods and petroleum supplies. The map displays import tariffs applied to Cars imported by Nigeria from various countries of origin during 2023. Jun 10, 2024 · Discover the top 10 exports of Nigeria. 28% rise from ₦2,998. The high importation of rice in Nigeria can be traced to rapid increase in population and also the demand for it by many Nigerians in their diets. United States Imports from Nigeria - data, historical chart and statistics - was last updated on September of 2025. Nigeria is the largest user of AGOA but 98 percent of exports under the program are petroleum products. 3 million, with Tunisia following at $104. 4 billion dollars the following year. Nigeria's strong engagement in intra-African trade may propel the continent toward a more wealthy and united future by increasing industrialization, lowering trade barriers, strengthening regional This article explored the impact of importing refined petroleum products from the European Union (EU) on Nigeria's economic growth and development. Find the latest trade statistics and economic complexity data for Nigeria. The economic downturn in 2020 put pressure on Nigeria’s foreign reserves. export destination in Sub-Saharan Africa. As a country rich in natural resources, Nigeria has a diverse import portfolio that reflects its economic needs and aspirations. From agricultural products like ginger, garlic, and palm kernel oil to manufactured goods like textiles, garments, and cosmetics, Nigeria has a diverse export market. Apr 26, 2023 · Nigeria is a major hydrocarbons producer in Africa and its production is the mainstay of the country's economy. Jul 3, 2024 · Nigeria, Africa's largest market, plays a critical role in the continent's economic landscape. At the HS6 digit level, 359 products were exported to 115 countries and 3,994 products were imported from 197 countries. 1m worth of goods from Nigeria in the first two months of 2025, just a month before the implementation of new tariffs by the Trump administration, The PUNCH reports. Here are the top 10 major imports of Africa. Exports and imports of Nigeria in 2020 are below, along with number of countries and products The total value of exports (FoB) was 34,900 million. 76 trillion Jun 2, 2019 · Nigeria’s import regulations are primarily based on the country’s economic interests, health concerns, and environmental protection goals. 86 billion US$) Indonesia with a share of 6. 88 trillion in the second quarter of 2024, according Nigeria Import Data Get Accurate Nigeria Import Customs Shipment Trade Data Nigeria Import Data of 2021 suggests that Nigeria’s imports were around 54 Billion US Dollars. Jan 28, 2024 · Imports of commodity group 72 "Iron and steel" accounted for 0. This has contributed to delays in cargo clearance due to inefficiencies and limited use of available technology. Customs duties are either specific or ad valorem, depending on the goods, and are payable in Nigerian Naira on entry Jan 28, 2024 · Imports of commodity group 0910 "Ginger, saffron, turmeric (curcuma), thyme, bay leaves, curry and other spices" accounted for 0. Key Sectors in Nigeria's Imports Nigeria's imports Sep 25, 2018 · Nigeria imports diverse kinds of goods and products from other countries. Feb 20, 2025 · Nigeria’s export earnings for the year reveal the top five countries contributing the most to its revenue, with four of these located in Europe. 8% of all its exports. 11 billion in Q1 2023,” it adds. Full Table (Source: Compiled Data from Our World in Data) Energy Import Export Status by Country The table illustrates a stark divide between energy-exporting and energy-importing countries. The most popular export Product categories shown summarize calculations at the two-digit Harmonized System code level. Here are Nigeria’s top 10 export trading partners and the worth of imported items. 85 trillion, with total exports surpassing imports Europe was Nigeria's largest regional trade partner with a value of ₦56. 36 Billion, according to the United Nations COMTRADE database on international trade. Judging by recent reports, Nigeria has committed about $18. In terms of GDP, Nigeria is the 26th largest economy in the world. Jun 14, 2024 · The value of other oil products imports in Q1,2024 stood at ₦4,445. From essential staples to other agricultural products, several African countries have emerged as major importers, sourcing large volumes of these goods to meet domestic demand. Nigeria Exports and Imports of Product Groups 2022 Exports and imports of products by stages of processing in 2022 are below along with their corresponding Product Share as percent of total export or import. 5 percent ($1. Nigeria's main import partners were: China, Belgium and India. 7 billion) from 2023. Apr 15, 2023 · “Nigeria imports more than 50% of its wheat requirement from Russia and other Black Sea countries,” an attaché of USDA ’s Foreign Agricultural Service post in Lagos said. Dec 11, 2024 · Business Insider Africa presents the top 5 African countries Nigeria imported from in Q3 2024. Merchandise Trade summary statistics for a country including imports, exports, tariffs, export and import partners, top exported products and development indicators Jun 27, 2024 · The Dangote Petroleum Refinery — the largest in Africa — was supposed to stop Nigeria’s reliance on imported crude oil products. Learn more about its risks and opportunities in Export Finance Australia’s Nigeria Country Profile. 68 billion. According to a Standard Chartered report, Nigeria’s exports are projected to reach $127 billion by 2030, with an average annual growth rate of 9. Top five countries from which Nigeria imported goods in 2022 are below, along with percent of total imports that came from the country : Nigeria imports from China worth US$ 13,767 million, with a partner share of 22. Nigeria Product Imports by country in US$ Thousand 2022 In 2022, the top partner countries from which Nigeria Imports All Products include China, Netherlands, Belgium, India and United States. Nigeria's main export partners were: Spain, France and the Netherlands. ac. 70 trillion, primarily from oil and agricultural exports to the United States and Canada. AGOA is reauthorized through September 2025. That dollar amount represents a 26. 4% gain Sep 5, 2025 · Discusses key economic indicators and trade statistics, which countries are dominant in the market, and other issues that affect trade. 8%) of Nigeria's imports by value in 2022. Mar 14, 2025 · European countries emerged as Nigeria’s leading trading region in FY 2024, with a trade value of N56. U. Mar 28, 2023 · Wheat Import in Nigeria USDA estimates 2022/23 season Wheat imports at 6 million metric tons, a 3 percent decrease compared to the last season. Jan 6, 2025 · Nigeria imported 50,000 metric tons of tomatoes valued at $60 million in 2024, mainly from China, India, and Turkey. 24 HIGHLIGHTS NIGERIA’S TOTAL MERCHANDISE TRADE IN THE Q3, 2023 ROSE SIGNIFICANTLY DUE TO INCREASE IN EXPORTS AND IMPORTS RESULTING IN A POSITIVE TRADE BALANCE Nigeria’s total trade in the third quarter of 2023 stood at ₦18,804. With billions spent on imports each quarter, certain countries stand out as Nigeria’s biggest trading partners. In the third quarter of 2024, Nigeria imported goods worth ₦512. Nigeria exported an average of about 900 Bcf of natural gas from 2012–2021 (Figure 11). Merchandise Trade summary statistics for a country including imports, exports, tariffs, export and import partners, top exported products and development indicators Nigeria's total Exports in 2024 were valued at US$52. 56% increase from the previous year The country achieved a significant trade surplus of ₦16. Dec 12, 2024 · The country’s trade dynamics show a dual role as a significant African importer and exporter. 60 billion while total imports stood at ₦8,457. According to the data, Nigeria currently imposes a 27% tariff on U. Total Imports were valued at US$40. Learn about the African Countries import export data and competitive dynamics of the biggest import and export markets of South Africa, Nigeria, Morocco, Kenya, and Ghana. This article provides an overview of Nigeria's import data, highlighting key sectors, trade partners, and recent trends. Export to Africa by targeting the right trade sectors. In 2021, Nigeria imported 51 percent of Wheat demand from Russia, Lithuania, Latvia, and other Baltic countries. The United States remains Nigeria’s key trading partner outside the continent. The United States' main import partners were: Mexico, China and Canada. But inadequate domestic supply means it has to plug gaps by We would like to show you a description here but the site won’t allow us. What food does Nigeria import the most? “Nigeria's major agricultural imports include wheat, sugar, fish, and milk, while the main agricultural exports include sesame seeds, cashew nuts, cocoa beans, ginger, frozen shrimp, and cotton,” said Taiwo Oyaniran, associate director at PwC Nigeria, in a 2020 report. 2 billion dollars, a figure that Dr. The policy reflects a shift toward more targeted and reciprocal trade measures, with some partners, including Canada, Mexico, and the European Union, receiving exemptions under existing agreements. 2 billion or 28. 6%) of the overall value of Nigerian imports during 2024. The top three import commodities were: Machinery, nuclear reactors, boilers; Electrical, electronic equipment and Vehicles other than railway, tramway. Sep 12, 2024 · 7. Some of the countries include the likes of India, China, United Kingdom and the United States. United States Imports from Nigeria was US$5. exports to Nigeria include vehicles, wheat, machinery, fuels, and plastics. What does Nigeria export to the United States? At $3. We would like to show you a description here but the site won’t allow us. Jan 11, 2023 · As the import-to-GDP ratio in most African countries is lower than obtainable across the world, does Africa have an import problem? In this article, we will review the various import data from different African countries including Nigeria, Ghana, Morocco, Egypt, Ivory Coast, and Senegal. Nov 29, 2024 · The top ten export destinations for Nigeria in Q2 2024 highlight the strategic role of oil in the global trade dynamics and crude oil continues to dominate Nigeria’s exports. S. The National Bureau of Statistics (NBS) data reveals the leading countries of origin for goods and services imported into Nigeria during this period. That subset of leading imported goods surpassed one-quarter (25. High tariffs, restricted forex availability for 44 categories of imports, and prohibitions on many other import items have the aim of spurring domestic agricultural and manufacturing sector growth. Nigeria's major import customers by country in 2023 led by Netherlands, Spain and India plus trade deficits & surpluses by country Mar 12, 2025 · Nigeria’s latest trade data has identified the top five countries where the nation spent the most on imports. In terms of imports Free and open access to global development data How does the import of Nigeria looks like in the world market? Situated in West Africa, Nigeria has the largest economy in Africa. Nigeria Product Exports by country in US$ Thousand 2022 In 2022, the top partner countries to which Nigeria Exports All Products include India, Spain, Netherlands, Indonesia and United States. In 2019, the country's imports were valued at approximately USD 47 billion. Despite petroleum accounting for almost Jan 29, 2023 · African Countries Import Export Data Obtain African exporter and importer details at our data-driven platform. 94 trillion, followed by Asia at ₦49. Nigeria trade balance, exports and imports by country and region 2022 In 2022, Nigeria major trading partner countries for exports were India, Spain, Netherlands, Indonesia and United States and for imports they were China, Netherlands, Belgium, India and United States. goods and services trade with Nigeria totaled an estimated $13. In the first quarter of 2024, China ranked highest among the top trading partners on the import side, followed by India, United States of America, Belgium, and The Netherlands. 53% (4. Countries of origin are color-coded based on the applied tariff levels, allowing users to identify regions with the highest tariff costs and those offering more favorable trading conditions. What food does Nigeria import? Nigeria relies on $10 billion of imports to meet its food and agricultural production shortfalls (mostly wheat, rice, poultry, fish, food services, and consumer-oriented foods). These deals help Nigeria buy and sell goods with other countries, attract foreign investment, and open doors for businesses to grow. Oct 2, 2024 · Does Canada has an abundance of natural resources? They import those resources from other countries. 203 billion to import of petroleum oil from 20 countries. Nigeria's total Imports in 2024 were valued at US$40. 2% from 2023 to 2024. Export of refined sugar to West Africa and other African countries will increase marginally as import from Nigeria becomes a cheaper alternative amid high import costs and rising global commodity prices brought about by a drop in Brazilian sugar production. Consumers in Nigeria have a high demand for cars, motorcycles, and other vehicles, as well as spare parts and accessories. 4 billion in 2022, Nigeria is the second largest U. Nigeria Trade Summary 2023 Data Nigeria exports, imports, tariff by year. The Ukraine-Russia war contributed to the decline in Wheat imports. 00 billion. With over 230 million people and a booming youth population, the country needs strong trade partnerships to create jobs, boost businesses, and keep prices stable. Olaifa says increased to 1. 90% from ₦3,344. Exports of crude petroleum are vital to Nigeria’s export economy and account for 70. Below is a breakdown of Nigeria’s Jun 1, 2019 · Nigeria’s major imports span various industries, reflecting the country’s needs across infrastructure, manufacturing, energy, and consumer goods. The automobile industry in Nigeria heavily relies on imports in Nigeria for both vehicles and auto parts. 36% (5. Nigeria's refined petroleum imports saw the largest increase. Total Exports were Find the latest exports, imports and tariffs for Crude Petroleum trade in Nigeria. 76 trillion, fueled by substantial trade activities with major partners like India and China, while the Americas accounted for N19. 36 Trillion, according to the United Nations COMTRADE database on international trade. For example, Nigeria has an effective duty (tariff, levy, excise, and value added tax (VAT) where applicable) of 50% or more on over 80 tariff lines. Europe remains a critical market for Nigerian oil, with countries like Spain, France, and Italy continuing to rely on Nigeria to secure their energy needs. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Pharmaceuticals and Medical Apr 22, 2025 · Implications for Nigeria and other African Economies For Nigeria and other African countries, these tariffs may effectively override the African Growth and Opportunity Act (AGOA), which has allowed eligible sub-Saharan African countries to export duty-free to the US since 2000. There are items, goods and services that are imported into Nigeria from other foreign countries at some point in time. 44 billion US$) USA with a share of 7. 97 Billion. This includes machinery, technology, consumer goods, and specialized equipment. Overview of Importing from Nigeria Importing from Nigeria can be a lucrative business opportunity, with the country offering a wide range of products in high demand globally. Mar 25, 2025 · Business Insider Africa presents the top five countries Nigeria imported the most goods from in Q4,2024 The report is courtesy of the Foreign Trade in Goods Statistics of the NBS China is Nigeria's top import partner at 27. and selected countries in the Sub-Saharan region. The east Asian country supplies a significant portion of Nigeria’s imported goods. In 2024 Merchandise Trade summary statistics for a country including imports, exports, tariffs, export and import partners, top exported products and development indicators Apr 8, 2025 · The United States imported $643. 03% increase. 923% in 2022 and cumulative imports to Nigeria were equal to $ 60 billion). 56 billion from other African countries while exporting a far greater value of ₦2,486. 87 Billion during 2024, according to the United Nations COMTRADE database on international trade. The total value of imports (CIF) was 55,455 million. 29 billion. With that said, here are the 5 countries Nigeria bought the highest volume of goods from in Q1 2024. The list is courtesy of the National Bureau of Statistics. Nigeria is part of ECOWAS, a custom union composed of 15 countries 2, so for these countries, Nigeria is already paying 0% of import tariff. The top three import commodities were: Mineral fuels, oils, distillation products; Machinery, nuclear reactors, boilers and Vehicles other than railway, tramway. . This signals the immense potential for businesses and investors. The data presented includes effective import tariff rates for all WTO member countries Jul 1, 2016 · The prospect for significant trade between Nigeria and other countries in the ECOWAS zone is con-strained by parallel or noncomplementary production structures across member countries. Dec 14, 2023 · Nigeria's import narrative is complicated and dynamic, reflecting the problems and possibilities that come with a globalized economy. The country also remains the largest gas consumer and producer of West Africa. 41% (6. Dec 8, 2023 · Nigeria's importation allows the country to access a wide range of goods and products that may not be produced domestically. 13 billion US$) India with a share of 8. Nigeria Textiles and Clothing Imports by country in US$ Thousand 2022 In 2022, the top partner countries from which Nigeria Imports Textiles and Clothing include China, India, Kenya, Japan and Turkey. 36%, and France at 3. Sep 7, 2022 · The second part of our analysis requires us to compare Nigeria to other countries to see if we are importing above our station. imports of Nigeria’s agricultural and related goods reached $118 million, a 37 percent increase from 2022. 69 percent. Sep 5, 2025 · Nigeria has transitioned from pre-shipment inspection to destination inspection for imports, requiring all goods to be inspected upon arrival. That’s where international trade agreements come in. With China accounting for nearly 20% of Nigeria’s imports in 2025, the trade relationship is a double-edged sword. Local production can be much more cost competitive than imports, so reviewing the local competitive landscape is important. p. Dec 28, 2024 · Nigeria is one of Africa's major crude oil exporters, supplying high-quality crude globally Nigeria's crude oil production averaged 1. As a result, these goods are commonly imported to fulfill the domestic market's needs. These regulations are designed to prevent the entry of harmful or substandard goods, promote local manufacturing, and ensure compliance with international trade agreements. Nigeria Food Products Imports by country in US$ Thousand 2022 In 2022, the top partner countries from which Nigeria Imports Food Products include Brazil, Germany, Ireland, United States and China. 56 billion from other African countries, while it exported far greater value of N2. 5% between 2021 and 2030. Nigeria maintains several supplemental levies and duties on selected imports that significantly raise effective tariff rates. Our results indicate that Nigeria is a country where seafood imports are highly important for seafood availability. Nigeria’s imports increased from N100. Jun 16, 2025 · A new report from the NBS has revealed that Nigeria recorded a positive trade balance in the first quarter of 2025 The bureau stated that Nigeria's total exports were higher than the amount of goods imported in the first 3 months Crude oil leads the export data in India and European countries CHECK Oct 29, 2024 · Africa’s import market reflects the diverse needs of the continent’s growing populations and economies. Total Exports were valued at US Sep 8, 2025 · The naira’s devaluation has made the country’s exports more competitive in foreign markets, including neighboring countries. Importers in Africa are seeking these products to meet the rising demand in the African markets. This is done so that trade will continue and businesses would thrive. 4 million U. 0 billion in 2024. compared to 2022 (it was 0. 35%, the United States at 6. 3 billion, up 66. Sep 5, 2025 · Nigeria is eligible for preferential trade benefits under the AGOA. 2% increase from 2021 to 2022. Nigerian exports to the United States include crude oil, cocoa, cashew nuts, and animal feed. These countries include Belgium, India, Netherlands, Malta and Russia. The list is courtesy of Trade Map. This Does Nigeria import rice? Currently, Nigeria is one of the largest importers of rice in the world. It does not have enough oil refineries and even if the four it . Mar 20, 2024 · Petrol prices increase again, filling stations sell to motorist at new prices The interdependence of the world economy and the significance of developing robust trade ties for Nigeria's sustainable economic growth is reflected in these top 10 import partners. The two metrics help countries to focus on their areas of comparative advantage just as they enhance industry competitiveness, innovation and help countries have access to the global markets Mar 24, 2025 · Nigeria is at a turning point. According to The top 10 categories account for more than three-quarters (76. Nigeria Exports By Category - was last updated on Tuesday, September 16, 2025. The country’s tariffs are determined by the ECOWAS 2015 – 2019 Common External Tariff (CET). Nigeria relies on imports to meet its domestic needs and support its industries. Apr 29, 2018 · As mentioned earlier, most of the fish consumed in Nigeria is imported from foreign countries, reaching more than 2 million tonnes annually The FAO’s 2017 Country Brief on Nigeria stated that in 2013 total fish imports amounted to 1. Nigeria top 5 Export and Import partners 2023 Top five countries to which Nigeria exported in 2023 are below, along with the percent of total exports that went to that country: Top five countries from which Nigeria imported goods in 2023 are below, along with percent of total imports that came from the country : Jan 30, 2025 · Nigeria and China share a strong trade relationship. The report highlights Nigeria’s key trading partners and the composition of imports that shape the country’s economic landscape. Nigeria’s exports to six major trading partners—Spain, the United States of America, France, India, the Netherlands, and China—reached N8. 00 billion in Q2 2024, marking a 20. 46% (4. Nigeria Trade Summary U. Aug 25, 2022 · Exports and imports, as components of trade, measure a country’s trade openness to the rest of the world. The tariff has five bands: 0% duty on capital goods and essential drugs, 5% duty on raw materials, 10% on intermediate goods, 20% on Merchandise Trade summary statistics for a country including imports, exports, tariffs, export and import partners, top exported products and development indicators Moved PermanentlyThe document has moved here. Apr 2, 2025 · The Trump administration’s reciprocal tariff policy is also set to impact several African nations, with countries like Nigeria, Ghana, Ethiopia, and Mauritius featured on the latest White House list of tariff adjustments. In 2023, Nigeria's largest petrol imports came from Togo, totaling $109. Mar 22, 2024 · It's important to remember that the car import business is always changing. 54% (4. Nigeria Trade Statistics including exports and imports by partner and products, tariffs and relevant development indicators. Learn about the business environment of Nigeria through key figures on international trade and main imports and exports of goods and services. Jul 18, 2025 · As of the fourth quarter of 2021, India and Spain were the main importers of crude oil from Nigeria. Oil and natural gas revenue is the country’s primary source of foreign exchange, and crude oil price changes noticeably affect its economy. Mar 12, 2025 · The National Bureau of Statistics has revealed the list of countries buying Nigeria's crude oil in 2024 Nigeria sold over N55 trillion worth of goods to different countries in the 12 months under review Crude oil is Nigeria's main export and remains the main source of revenue for the federal Mar 15, 2025 · Nigeria's foreign trade value rose to ₦138. 35 million. Due to limited refining capacity and outdated technology, Nigeria relies heavily on imported petroleum products from the Netherlands and Belgium, which puts pressure on the naira and contributes to inflation. Apr 26, 2023 · Nigeria does not import any natural gas, and it exports natural gas that is not consumed domestically. Jun 12, 2025 · China and India again emerged as Nigeria’s largest sources of imports in the first quarter of 2025, showing a significant concentration of imports from a handful of global economies. 17 billion US$) Spain with a share of 9. From heavy machinery to essential chemicals, these imports fuel key industries such as manufacturing, healthcare, construction, and technology. 418% of total import flow to Nigeria (in 2023, total imports to Nigeria amounted to $ 65 billion). 8 billion) from 2023. Ores, slag and ash was the fastest grower among the top 10 export categories, up by 419. Aug 27, 2024 · Nigeria, the largest economy in Africa, plays a significant role in the global trade landscape. 504 p. Mar 3, 2025 · Nigeria’s trade relationships span across multiple continents, with Europe, North America, and Asia emerging as its biggest partners. The share of commodity group 72 in total imports to Nigeria decreased by 0. Post forecasts an 8 percent increase in sugarcane production in MY2023/24. Jan 28, 2024 · Nigeria's exports 2023 by country Top export destinations of commodities from Nigeria in 2023: Netherlands with a share of 12. According to Nigeria's export statistics, Nigeria exported goods worth $65 billion in 2024, with petroleum oil and crude oil ($52 billion) as its biggest exports. 5 million barrels per day in 2024 despite challenges US, France, Spain emerged top buyers of Nigeria’s crude in 2024 Feb 13, 2025 · In the third quarter of 2024, Nigeria spent more money importing goods, similar to how it did exporting products compared to the previous quarter. 03 billion in Q1 2023 to N117. Aug 8, 2022 · To develop such an approach, I take advantage of a detailed dataset that includes every import tariff that Nigeria is paying when trying to export to African countries. Exports of the fossil fuel to these two countries were in an approximate amount of Sep 7, 2022 · The second part of our analysis requires us to compare Nigeria to other countries to see if we are importing above our station. Nigeria’s 4 most valuable imported products were refined petroleum oils, wheat, phone devices including smartphones, and crude oil. Rates start at a baseline of 10% and rise as high as 50%, depending on existing trade relationships. The Act establishes a preferential trade agreement between the U. Jun 6, 2023 · Includes a list of goods that are prohibited from being exported to the country or are otherwise restricted. goods exports to Nigeria in 2024 were $4. Jun 13, 2025 · China remains Nigeria’s highest trading partner on the import side in the first quarter of 2025, followed by India, the United States of America, The Netherlands, and The United Arab Emirates. 03 trillion in 2024, a 106. 081% of total import flow to Nigeria (in 2023, total imports to Nigeria amounted to $ 65 billion). One thing to note is that all of the data before this point is from domestic institutions (Central Bank of Nigeria or National Bureau of Statistics) so there is consistency that allows us to make direct comparisons. Aug 31, 2025 · Nobody country has it all. This comprehensive guide covers the top exportable products, strategies to access global markets, current trends and outlook, plus practical tips directly from Nigerian exporters. goods. Sep 5, 2025 · Nigeria adopted all tariff lines with few adjustments from the CET. 43%, Belgium at 8. 8% of overall Nigerian imports. Nigeria’s Main Imports from China In 2020, China’s exports to Nigeria amounted to $15. 5% (8. Sep 5, 2025 · Nigeria employs a combination of tariffs and quotas for the dual purposes of revenue generation and protecting local industries from highly competitive imports. These imports support economic growth by providing the necessary inputs for various industries. Mar 12, 2025 · According to data from the National Bureau of Statistics, about five countries emerged as Nigeria’s largest trade partners in Q4 2024 The countries include China, India, Belgium, the United States and France, with China and India dominating trade in the review period Analysis shows that Nigeria’s imports from some of those countries included electronics, machinery, equipment and Nigeria trade balance, exports and imports by country and region 2019 In 2019, Nigeria major trading partner countries for exports were India, Spain, Netherlands, Ghana and France and for imports they were China, India, United States, Netherlands and Belgium. New trade deals, government regulations, and economic factors can all affect which countries Nigeria imports cars from. Oct 21, 2024 · With its rich resources and productive capacity, Nigeria offers immense potential for export-driven growth. Dec 15, 2023 · In the third quarter of 2022, Nigeria imported crude palm oil worth nearly 20 billion Nigerian naira (NGN) (roughly 43. Africa Business Pages brings you an analysis of major imports to Africa Dec 14, 2020 · The proportion of African countries’ food imports originating from other African countries is currently very low, consistently averaging about 20 percent over the past several decades, with one Nigeria’s trade regime is protectionist in key areas. jsqk nuldwxo othzu akdf xjbhpp ywpfd cwt afjjz ofywkp beejdedw