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Nigeria Trade Summary

2014

Nigeria exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR NIGERIA 2014

Overall Exports and Imports for Nigeria 2014

Exports and imports of Nigeria in 2014 are below, along with number of countries and products

  • The total value of exports (FoB) was 102,878 million.
  • The total value of imports (CIF) was 46,532 million.
  • At the HS6 digit level, 990 products were exported to 151 countries and 4,036 products were imported from 195 countries.

Nigeria top 5 Export and Import partners 2014

Top five countries to which Nigeria exported in 2014 are below, along with the percent of total exports that went to that country:

  1. Nigeria exports to India worth US$ 14,981 million, with a partner share of 14.56 percent.
  2. Nigeria exports to Netherlands worth US$ 10,493 million, with a partner share of 10.20 percent.
  3. Nigeria exports to Spain worth US$ 9,578 million, with a partner share of 9.31 percent.
  4. Nigeria exports to Brazil worth US$ 8,316 million, with a partner share of 8.08 percent.
  5. Nigeria exports to France worth US$ 5,898 million, with a partner share of 5.73 percent.

Top five countries from which Nigeria imported goods in 2014 are below, along with percent of total imports that came from the country :

  1. Nigeria imports from China worth US$ 10,202 million, with a partner share of 21.92 percent.
  2. Nigeria imports from United States worth US$ 4,834 million, with a partner share of 10.39 percent.
  3. Nigeria imports from Belgium worth US$ 3,370 million, with a partner share of 7.24 percent.
  4. Nigeria imports from Netherlands worth US$ 2,842 million, with a partner share of 6.11 percent.
  5. Nigeria imports from India worth US$ 2,774 million, with a partner share of 5.96 percent.

Nigeria Top 5 Productsexports imports at HS 6 digit level 2014

The top five exported HS 6 digit level products to world by Nigeria along with trade value are:

  1. Nigeria exported Petroleum oils and oils obtained from bituminou , worth 75,033,422.63 (US$ Thousands).
  2. Nigeria exported Natural gas, liquefied , worth 8,751,197.10 (US$ Thousands).
  3. Nigeria exported Petroleum oils, etc, (excl. crude); preparation , worth 6,257,071.21 (US$ Thousands).
  4. Nigeria exported Propane, liquefied , worth 2,116,487.62 (US$ Thousands).
  5. Nigeria exported Liquid or liquefied-gas fuels in containers, fo , worth 1,898,853.01 (US$ Thousands).

The top five imported HS 6 digit level products from world by Nigeria along with trade value are

  1. Nigeria imported Petroleum oils, etc, (excl. crude); preparation , worth 7,103,364.34 (US$ Thousands).
  2. Nigeria imported Spelt, common wheat and meslin , worth 1,689,221.40 (US$ Thousands).
  3. Nigeria imported Motorcycles with reciprocating piston engine di , worth 989,861.18 (US$ Thousands).
  4. Nigeria imported Raw cane sugar, in solid form , worth 838,641.54 (US$ Thousands).
  5. Nigeria imported Mach-tls for wrkg ston/ceram/concr/asb-cement e , worth 750,826.40 (US$ Thousands).

Exports and Imports of Product Groups 2014

Exports and imports of products by stages of processing in 2014 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2014

Tariffs imposed by Nigeria in 2014 are below

  • The maximum rate of tariff in percentage on any product was 35 percent.
  • The simple average tariff across all products was 11.76 percent.
  • The trade weighted average tariff was 11.34 .
  • The total duty free imports in thousands of US dollars were 1,777,911.49 and duty free tariff line items share was 6.11 percent.

Development Indicators 2014

Key Development Indicators of Nigeria in 2014 are below

  • Nigeria GDP in current US dollar was 574,184 million.
  • GNI per capita, Atlas method (current US$) was 2,970.00 .
  • Nigeria Trade balance: as % of GDP was 5.99.
  • Trade balance in current US$ was 34,365.00 million.
  • Trade as percentage of GDP was 30.89 .
  • Trade in services as percentage of GDP was 4.69 .

Trade Indicators 2014

Trade Indicators for Nigeria in 2014 are below

  • Hirschman Herfindahl market concentration index was 0.06.
  • Index of export market penetration was 2.83.
  • World Growth in percentage was 0.23 and Nigeria Country Growth was -2.34 .