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Nigeria Trade at a Glance : Most Recent Values

Latest trade data available from various sources.
Nigeria monthly trade data
Nigeria quarterly trade data

Please note: The data from various sources are not from the same year.

Year

Nigeria exports, imports, trade and tariff indicators 2023

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

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Nigeria Trade

Overall Exports and Imports for Nigeria 2024

The total value of exports (FOB) is US$ 52,362 million.
The total value of imports (CIF) is US$ 40,968 million.
The total trade was US$ 93,329 million.
The trade balance was US$ 11,394 million.

China Monthly Exports and imports, in Jun 2024

The total value of exports (FOB) is US$ 4,856,398 K.
The total value of imports (CIF) is US$ 2,643,927 K.
The total trade was US$ 7,500,325 K.
The trade balance was US$ 2,212,472 K.

Nigeria Trade Indicators 2023

Hirschman Herfindahl Market concentration index is 0.05.
Index of export market penetration is 0.05.
World Growth in percentage is 0.05 and Nigeria Country Growth is -6.40.

Nigeria Service Trade data from WDI

Nigeria, Service imports (BoP, current US$) is 17,677,017,598.90.
Nigeria, Service exports (BoP, current US$) is 4,440,604,822.03.
Nigeria, Imports of goods and services as percentage of GDP is not available.
Nigeria, Exports of goods and services as percentage of GDP is not available.

Tariff and Trade Barriers

Tariffs 2023

Tariffs imposed by Nigeria in 2023 are below.

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

Nigeria Foreign Direct Investment (FDI) 2024

FDI Inward stock (in US$ Mil) was US$ 69,210 million.
FDI Inward stock flow (in US$ Mil) was US$ 1,080 million.
FDI Outward stock (in US$ Mil) was US$ 17,565 million.
FDI Outward stock flow (in US$ Mil) was US$ -408 million.

Non-Tariff Measures (NTM)

No Of NTM Measures is 28.
No Of NTM Affected Products (HS 6 Digit) is 4,329.

Nigeria World Development Indicators (WDI) 2023

Key Development Indicators of Nigeria in 2023 are below

The population of Nigeria is 195,874,740.
GDP in US$ is 363,846 million .
GNI per capita, Atlas method in current US dollars is 1,880.00.
Trade balance in US$ is not available.
Trade in services as percentage of GDP is not available.

WDI

Nigeria Global Value Chain (GVC) 2020

GVC related output as percentage of output was 3.50 %.
GVC related trade as percentage of trade was 38 %.

GVC

Nigeria Services Service Policy Restrictive Database (SPRD)

Services Trade Restrictions Index (Over All) for Nigeria is 27.10.

SPRD