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Nigeria Trade Summary

2023

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 2023

Overall Exports and Imports for Nigeria 2023

Exports and imports of Nigeria in 2023 are below, along with number of countries and products

  • The total value of exports (FoB) was 65,129 million.
  • The total value of imports (CIF) was 65,048 million.
  • At the HS6 digit level, 633 products were exported to 125 countries and 3,949 products were imported from 194 countries.

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:

  1. Nigeria exports to Netherlands worth US$ 8,179 million, with a partner share of 12.56 percent.
  2. Nigeria exports to Spain worth US$ 6,133 million, with a partner share of 9.42 percent.
  3. Nigeria exports to India worth US$ 5,447 million, with a partner share of 8.36 percent.
  4. Nigeria exports to United States worth US$ 4,860 million, with a partner share of 7.46 percent.
  5. Nigeria exports to Indonesia worth US$ 4,262 million, with a partner share of 6.54 percent.

Top five countries from which Nigeria imported goods in 2023 are below, along with percent of total imports that came from the country :

  1. Nigeria imports from China worth US$ 11,953 million, with a partner share of 18.38 percent.
  2. Nigeria imports from Singapore worth US$ 9,327 million, with a partner share of 14.34 percent.
  3. Nigeria imports from Belgium worth US$ 6,119 million, with a partner share of 9.41 percent.
  4. Nigeria imports from India worth US$ 5,230 million, with a partner share of 8.04 percent.
  5. Nigeria imports from United States worth US$ 4,040 million, with a partner share of 6.21 percent.

Nigeria Top 5 Productsexports imports at HS 6 digit level 2023

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 52,520,992.08 (US$ Thousands).
  2. Nigeria exported Natural gas, liquefied , worth 5,965,547.90 (US$ Thousands).
  3. Nigeria exported Urea , worth 1,067,751.90 (US$ Thousands).
  4. Nigeria exported Cocoa beans, whole or broken, raw or roasted , worth 669,988.56 (US$ Thousands).
  5. Nigeria exported Petroleum gases and other gaseous hydrocarbons , worth 653,969.47 (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 21,412,981.57 (US$ Thousands).
  2. Nigeria imported Tanks and other armoured fighting vehicles, mot , worth 9,174,843.95 (US$ Thousands).
  3. Nigeria imported Durum wheat , worth 2,156,534.12 (US$ Thousands).
  4. Nigeria imported Automobiles with diesel engine displacing more , worth 1,928,823.43 (US$ Thousands).
  5. Nigeria imported Raw cane sugar, in solid form , worth 1,052,984.40 (US$ Thousands).

Exports and Imports of Product Groups 2023

Exports and imports of products by stages of processing in 2023 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2023

Tariffs imposed by Nigeria in 2023 are below

  • The maximum rate of tariff in percentage on any product was 35 percent.
  • The simple average tariff across all products was 12.10 percent.
  • The trade weighted average tariff was 12.27 .
  • The total duty free imports in thousands of US dollars were 1,269,488.95 and duty free tariff line items share was 3.23 percent.

Development Indicators 2023

Key Development Indicators of Nigeria in 2023 are below

  • Nigeria GDP in current US dollar was 363,846 million.
  • GNI per capita, Atlas method (current US$) was 1,880.00 .
  • Nigeria Trade balance: as % of GDP was not available.
  • Trade balance in current US$ was not available.
  • Trade as percentage of GDP was not available .
  • Trade in services as percentage of GDP was 6.08 .

Trade Indicators 2023

Trade Indicators for Nigeria in 2023 are below

  • Hirschman Herfindahl market concentration index was 0.05.
  • Index of export market penetration was 4.49.
  • World Growth in percentage was -3.13 and Nigeria Country Growth was -6.40 .