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Nigeria Trade Summary

2020

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 2020

Overall Exports and Imports for Nigeria 2020

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.
  • The total value of imports (CIF) was 55,455 million.
  • At the HS6 digit level, 359 products were exported to 115 countries and 3,994 products were imported from 197 countries.

Nigeria top 5 Export and Import partners 2020

Top five countries to which Nigeria exported in 2020 are below, along with the percent of total exports that went to that country:

  1. Nigeria exports to India worth US$ 5,241 million, with a partner share of 15.02 percent.
  2. Nigeria exports to Spain worth US$ 3,796 million, with a partner share of 10.88 percent.
  3. Nigeria exports to Netherlands worth US$ 2,988 million, with a partner share of 8.56 percent.
  4. Nigeria exports to South Africa worth US$ 2,654 million, with a partner share of 7.60 percent.
  5. Nigeria exports to China worth US$ 1,766 million, with a partner share of 5.06 percent.

Top five countries from which Nigeria imported goods in 2020 are below, along with percent of total imports that came from the country :

  1. Nigeria imports from China worth US$ 15,947 million, with a partner share of 28.76 percent.
  2. Nigeria imports from United States worth US$ 5,024 million, with a partner share of 9.06 percent.
  3. Nigeria imports from India worth US$ 4,404 million, with a partner share of 7.94 percent.
  4. Nigeria imports from Netherlands worth US$ 4,326 million, with a partner share of 7.80 percent.
  5. Nigeria imports from Belgium worth US$ 2,084 million, with a partner share of 3.76 percent.

Nigeria Top 5 Productsexports imports at HS 6 digit level 2020

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 26,322,067.33 (US$ Thousands).
  2. Nigeria exported Natural gas, liquefied , worth 3,921,779.70 (US$ Thousands).
  3. Nigeria exported Vessels and other floating structures for break , worth 1,287,317.12 (US$ Thousands).
  4. Nigeria exported Petroleum gases and other gaseous hydrocarbons , worth 472,392.53 (US$ Thousands).
  5. Nigeria exported Floating docks and vessels which perform specia , worth 448,769.42 (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 8,068,701.95 (US$ Thousands).
  2. Nigeria imported Durum wheat , worth 2,116,530.04 (US$ Thousands).
  3. Nigeria imported Automobiles with diesel engine displacing more , worth 2,032,190.26 (US$ Thousands).
  4. Nigeria imported Vaccines for human medicine , worth 1,343,153.98 (US$ Thousands).
  5. Nigeria imported Motorcycles with reciprocating piston engine di , worth 1,175,302.26 (US$ Thousands).

Exports and Imports of Product Groups 2020

Exports and imports of products by stages of processing in 2020 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2020

Tariffs imposed by Nigeria in 2020 are below

  • The maximum rate of tariff in percentage on any product was 35 percent.
  • The simple average tariff across all products was 12.75 percent.
  • The trade weighted average tariff was 12.37 .
  • The total duty free imports in thousands of US dollars were 1,734,335.43 and duty free tariff line items share was 2.19 percent.

Development Indicators 2020

Key Development Indicators of Nigeria in 2020 are below

  • Nigeria GDP in current US dollar was 432,199 million.
  • GNI per capita, Atlas method (current US$) was 2,060.00 .
  • Nigeria Trade balance: as % of GDP was -0.12.
  • Trade balance in current US$ was -499.00 million.
  • Trade as percentage of GDP was 16.35 .
  • Trade in services as percentage of GDP was 5.51 .

Trade Indicators 2020

Trade Indicators for Nigeria in 2020 are below

  • Hirschman Herfindahl market concentration index was 0.06.
  • Index of export market penetration was 3.52.
  • World Growth in percentage was -3.77 and Nigeria Country Growth was -17.86 .