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Nigeria: Trade Statistics

Exporter Rank

51 / 138

Importer Rank

51 / 138

Trade Balance Rank

96 / 138

Total Trade [1]

Total Exports (2021) $47,231,712,930
Total Imports (2021) $52,068,286,983
Trade Balance (2021) ($4,836,574,053)
Exports of goods and services (% of GDP) (2021) [2] 10.74%
Imports of goods and services (% of GDP) (2021) [2] 11.84%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
India $7,733,674,041
Spain $5,575,736,666
France $2,974,081,523
Netherlands $2,835,547,745
Canada $2,143,138,286
United States $2,002,265,066
Italy $1,896,415,341
Indonesia $1,857,225,767
China $1,846,031,083
South Africa $1,558,392,483

Import Partners

Top 10 Import Countries

Country Import USD$
China $12,879,077,021
Netherlands $5,350,998,302
India $4,598,984,263
Belgium $3,781,882,191
United States $3,178,638,656
Russia $2,092,834,230
South Korea $1,479,844,447
Norway $1,322,713,171
Germany $1,273,384,788
France $1,175,649,637

Traded Goods [1] (at the 2-digit HS Code level)

Top 10 Export Goods

HS Code Export USD$
(27) Oil & Mineral Fuels $42,105,687,983
(89) Ships & Boats $1,436,633,452
(31) Fertilizers $943,030,779
(18) Cocoa $624,348,699
(12) Oil Seeds $323,862,730
(08) Fruit & Nuts $256,931,767
(76) Aluminum $188,960,858
(88) Aircraft $142,659,715
(24) Tobacco $112,011,307
(78) Lead $93,463,676

Top 10 Import Goods

HS Code Import USD$
(27) Oil & Mineral Fuels $16,144,370,225
(84) Industrial Machinery $7,404,043,107
(87) Motor Vehicles & Parts $3,440,318,496
(85) Electrical Machinery $3,075,515,535
(10) Cereals $2,737,584,918
(39) Plastics $2,529,511,795
(30) Pharmaceuticals $1,360,086,553
(73) Iron & Steel Articles $1,145,516,555
(90) Precision Instruments $1,105,373,272
(17) Sugar & Confectionery $980,092,856

Sources:

  1. UN Comtrade (2021) except where stated otherwise.
  2. The World Bank. Accessed: 10/8/2023
Nigeria