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Nigeria Trade Summary

2021

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 2021

Overall Exports and Imports for Nigeria 2021

Exports and imports of Nigeria in 2021 are below, along with number of countries and products

  • The total value of exports (FoB) was 47,232 million.
  • The total value of imports (CIF) was 52,068 million.
  • At the HS6 digit level, 608 products were exported to 136 countries and 4,013 products were imported from 201 countries.

Nigeria top 5 Export and Import partners 2021

Top five countries to which Nigeria exported in 2021 are below, along with the percent of total exports that went to that country:

  1. Nigeria exports to India worth US$ 7,734 million, with a partner share of 16.37 percent.
  2. Nigeria exports to Spain worth US$ 5,576 million, with a partner share of 11.81 percent.
  3. Nigeria exports to France worth US$ 2,974 million, with a partner share of 6.30 percent.
  4. Nigeria exports to Netherlands worth US$ 2,836 million, with a partner share of 6.00 percent.
  5. Nigeria exports to Canada worth US$ 2,143 million, with a partner share of 4.54 percent.

Top five countries from which Nigeria imported goods in 2021 are below, along with percent of total imports that came from the country :

  1. Nigeria imports from China worth US$ 12,879 million, with a partner share of 24.73 percent.
  2. Nigeria imports from Netherlands worth US$ 5,351 million, with a partner share of 10.28 percent.
  3. Nigeria imports from India worth US$ 4,599 million, with a partner share of 8.83 percent.
  4. Nigeria imports from Belgium worth US$ 3,782 million, with a partner share of 7.26 percent.
  5. Nigeria imports from United States worth US$ 3,179 million, with a partner share of 6.10 percent.

Nigeria Top 5 Productsexports imports at HS 6 digit level 2021

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 US$ 35,998,144.40 million.
  2. Nigeria exported Natural gas, liquefied , worth US$ 4,934,453.94 million.
  3. Nigeria exported Floating or submersible drilling or production , worth US$ 1,170,082.49 million.
  4. Nigeria exported Urea , worth US$ 906,350.45 million.
  5. Nigeria exported Petroleum gases and other gaseous hydrocarbons , worth US$ 594,871.47 million.

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 US$ 15,730,602.17 million.
  2. Nigeria imported Durum wheat , worth US$ 2,689,681.47 million.
  3. Nigeria imported Automobiles with diesel engine displacing more , worth US$ 925,189.16 million.
  4. Nigeria imported Other medicaments of mixed or unmixed products, , worth US$ 922,432.74 million.
  5. Nigeria imported Raw cane sugar, in solid form , worth US$ 894,772.08 million.

Exports and Imports of Product Groups 2021

Exports and imports of products by stages of processing in 2021 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2021

Tariffs imposed by Nigeria in 2021 are below

  • The maximum rate of tariff in percentage on any product was 35 percent.
  • The simple average tariff across all products was 12.70 percent.
  • The trade weighted average tariff was 12.20 .
  • The total duty free imports in thousands of US dollars were 2,017,260.62 and duty free tariff line items share was 3.03 percent.

Development Indicators 2021

Key Development Indicators of Nigeria in 2021 are below

  • Nigeria GDP in current US dollar was 440,834 million.
  • GNI per capita, Atlas method (current US$) was 2,120.00 .
  • Nigeria Trade balance: as % of GDP was -1.10.
  • Trade balance in current US$ was -4,848.00 million.
  • Trade as percentage of GDP was 22.58 .
  • Trade in services as percentage of GDP was 4.55 .

Trade Indicators 2021

Trade Indicators for Nigeria in 2021 are below

  • Hirschman Herfindahl market concentration index was 0.07.
  • Index of export market penetration was 3.70.
  • World Growth in percentage was 12.59 and Nigeria Country Growth was 17.14 .