Nigeria

ECON COMPLEXITY (2018)

-1.75

RANK 134 OF 137

PRODUCT EXPORTS (2018)

$59.5B

RANK 50 OF 222

EXPORTS PER CAPITA (2018)

$304

RANK 21 OF 219

PRODUCT IMPORTS (2018)

$48.7B

RANK 53 OF 221

IMPORTS PER CAPITA (2018)

$248

RANK 32 of 219

SERVICE EXPORTS (2015)

$2.74B

RANK 92 OF 170

SERVICE IMPORTS (2015)

$15.6B

RANK 48 OF 170

GDP (2018)

$397B

CURRENT US$
RANK 29 OF 196

GDP GROWTH (2008-2018)

17.9%

CURRENT US$
RANK 130 OF 196

GDP PC (2018)

$2,028

CURRENT US$
RANK 151 OF 196

GDP PC GROWTH (2008-2018)

-9.57%

Overview: This page contains the latest international trade data for Nigeria, including service trade data, and tariffs. In 2018 Nigeria was the number 29 economy in the world in terms of GDP (current US$), the number 50 in total exports, the number 53 in total imports, and the number 134 most complex economy according to the Economic Complexity Index (ECI). In 2018, Nigeria exported $59.5B and imported $48.7B, resulting in a positive trade balance of $10.9B. In 2018, Nigeria’s exports per capita were $304 and its imports per capita were $248.

Trade: The top exports of Nigeria are Crude Petroleum ($44.8B), Petroleum Gas ($8.61B), Refined Petroleum ($940M), Cocoa Beans($621M), and Gold ($577M). The top imports of Nigeria are Refined Petroleum ($9.95B), Special Purpose Ships ($4B), Wheat ($1.64B), Cars ($1.27B), and Packaged Medicaments ($1.04B).

Destinations: Nigeria exports mostly to India ($10B), Spain($6.12B), United States ($5.74B), France ($4.02B), and South Africa($3.87B), and imports mostly from China ($13.4B), Netherlands($5B), South Korea ($4.76B), Belgium-Luxembourg ($3.37B), and India ($2.76B).

Location: Nigeria borders Benin, Cameroon, Chad, and Niger by land and Equatorial Guinea, Ghana, and Sao Tome and Principe by sea.

Exports

In 2018 Nigeria exported a total of $59.5B, making it the number 50 exporter in the world. During the last five reported years the exports of Nigeria have changed by -$38B from $97.6B in 2013 to $59.5B in 2018.

The most recent exports are led by Crude Petroleum ($44.8B), Petroleum Gas ($8.61B), Refined Petroleum ($940M), Cocoa Beans ($621M), and Gold ($577M).

Imports

In 2018 Nigeria imported $48.7B, making it the number 53 trade destination in the world. During the last five reported years the imports of Nigeria changed by -$4.05B from $52.7B in 2013 to $48.7B in 2018.

The most recent imports of Nigeria are led by Refined Petroleum ($9.95B), Special Purpose Ships ($4B), Wheat ($1.64B), Cars ($1.27B), and Packaged Medicaments ($1.04B).

Trade Balance

As of 2018 Nigeria had a positive trade balance of $12.7B in net exports. As compared to their trade balance in 1995 when they still had a positive trade balance of $6.96B in net exports.

Destinations

The most common destination for the exports of Nigeria are India ($10B), Spain ($6.12B), United States ($5.74B), France ($4.02B), and South Africa ($3.87B).

Origins

The most common import partners for Nigeria are China ($13.4B), Netherlands ($5B), South Korea ($4.76B), Belgium-Luxembourg ($3.37B), and India ($2.76B).