Nigeria

Compare Nigeria →

NG · NGA · BACI 566 · latest data 2024

Exports

$64.0B USD, nominal · 2024

= $63,961 M0.9% over 5 yrs (down)

Imports

$48.1B USD, nominal · 2024

= $48,075 M6.4% over 5 yrs (down)

Trade balancesurplus

$15.9B USD, nominal · 2024

= $15,886 M

Total trade

$112.0B USD, nominal · 2024

= $112,036 M3.3% over 5 yrs (down)

World position: #52 of 225 exporters · top 25% · #57 of 225 importers · top half · 2024
World export share since 1995: +0.0 pp

Trade timeline

Nigeria's exports grew from $13.0B in 1995 to $64.0B in 2024; the 2024 balance was $15.9B.

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Exports, imports, trade balance and total trade of Nigeria per year, USD millions.
Year	Exports ($M)	Imports ($M)	Balance ($M)	Total ($M)
1995	$13,008 M	$4,793 M	$8,215 M	$17,801 M
1996	$17,639 M	$7,138 M	$10,500 M	$24,777 M
1997	$18,338 M	$7,704 M	$10,634 M	$26,041 M
1998	$11,824 M	$8,152 M	$3,672 M	$19,976 M
1999	$14,805 M	$7,386 M	$7,419 M	$22,191 M
2000	$22,583 M	$9,041 M	$13,542 M	$31,623 M
2001	$22,523 M	$12,081 M	$10,442 M	$34,604 M
2002	$20,237 M	$13,959 M	$6,278 M	$34,195 M
2003	$27,556 M	$16,828 M	$10,728 M	$44,385 M
2004	$34,765 M	$14,996 M	$19,770 M	$49,761 M
2005	$46,755 M	$18,246 M	$28,509 M	$65,001 M
2006	$62,724 M	$29,211 M	$33,513 M	$91,934 M
2007	$74,071 M	$38,355 M	$35,716 M	$112,425 M
2008	$93,718 M	$49,455 M	$44,263 M	$143,173 M
2009	$62,261 M	$47,400 M	$14,861 M	$109,660 M
2010	$95,958 M	$51,929 M	$44,029 M	$147,887 M
2011	$135,174 M	$67,258 M	$67,916 M	$202,433 M
2012	$130,075 M	$49,082 M	$80,993 M	$179,157 M
2013	$103,850 M	$54,228 M	$49,622 M	$158,079 M
2014	$103,162 M	$55,002 M	$48,160 M	$158,163 M
2015	$58,999 M	$41,770 M	$17,229 M	$100,770 M
2016	$38,733 M	$35,603 M	$3,130 M	$74,337 M
2017	$50,048 M	$38,254 M	$11,794 M	$88,302 M
2018	$65,033 M	$46,123 M	$18,911 M	$111,156 M
2019	$64,521 M	$51,336 M	$13,186 M	$115,857 M
2020	$43,331 M	$54,525 M	−$11,194 M	$97,855 M
2021	$58,024 M	$58,739 M	−$714 M	$116,763 M
2022	$71,132 M	$66,535 M	$4,596 M	$137,667 M
2023	$61,005 M	$68,363 M	−$7,358 M	$129,368 M
2024	$63,961 M	$48,075 M	$15,885 M	$112,036 M

30 rows

World share & rank

World export share moved from 0.3% in 1995 to 0.3% in 2024; export rank #44 → #52.

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World export and import share in percent, and world ranks, of Nigeria per year.
Year	Export share (%)	Import share (%)	Export rank	Import rank
1995	0.26%	0.09%	#44	#64
1996	0.33%	0.13%	#41	#61
1997	0.33%	0.14%	#42	#59
1998	0.21%	0.15%	#46	#60
1999	0.26%	0.13%	#43	#58
2000	0.35%	0.14%	#44	#59
2001	0.36%	0.19%	#43	#53
2002	0.31%	0.21%	#44	#50
2003	0.36%	0.22%	#43	#49
2004	0.38%	0.16%	#46	#61
2005	0.45%	0.17%	#41	#60
2006	0.52%	0.24%	#40	#50
2007	0.53%	0.27%	#38	#49
2008	0.58%	0.31%	#39	#49
2009	0.50%	0.38%	#39	#46
2010	0.64%	0.35%	#33	#49
2011	0.75%	0.37%	#32	#48
2012	0.72%	0.27%	#35	#54
2013	0.57%	0.30%	#38	#52
2014	0.56%	0.30%	#37	#52
2015	0.37%	0.26%	#45	#54
2016	0.25%	0.23%	#50	#57
2017	0.29%	0.22%	#49	#57
2018	0.34%	0.24%	#47	#54
2019	0.35%	0.28%	#47	#52
2020	0.25%	0.32%	#50	#47
2021	0.27%	0.27%	#52	#53
2022	0.29%	0.28%	#50	#52
2023	0.27%	0.30%	#51	#49
2024	0.28%	0.21%	#52	#57

30 rows

Trading partners

China was Nigeria's top trading partner in 2024, at 16.0% of total trade; the top five partners covered 44.5%.

Year

Top partner share: 16.0%
Top-5 share: 44.5%
Partners: 200
Partner HHI (0–1): 0.058

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Spain $6.5B

India $6.2B

United States $6.0B

France $4.8B

China $3.6B

Netherlands $3.3B

Indonesia $2.6B

South Africa $2.5B

Côte d’Ivoire $2.4B

Italy $2.0B

Germany $2.0B

South Korea $1.8B

United Kingdom $1.6B

Brazil $1.3B

Belgium $436M

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Top partners of Nigeria in 2024, USD millions.
Rank	Partner	Exports to ($M)	Imports from ($M)	Total ($M)	Balance ($M)
#1	China	$3,564 M	$14,323 M	$17,887 M	−$10,759 M
#2	United States	$6,008 M	$4,326 M	$10,333 M	$1,682 M
#3	India	$6,248 M	$2,688 M	$8,936 M	$3,559 M
#4	Spain	$6,534 M	$546 M	$7,080 M	$5,988 M
#5	France	$4,817 M	$776 M	$5,593 M	$4,041 M
#6	Belgium	$436 M	$4,521 M	$4,957 M	−$4,085 M
#7	Netherlands	$3,270 M	$1,656 M	$4,925 M	$1,614 M
#8	Indonesia	$2,624 M	$514 M	$3,139 M	$2,110 M
#9	United Kingdom	$1,558 M	$1,540 M	$3,099 M	$18 M
#10	Germany	$2,019 M	$961 M	$2,980 M	$1,057 M
#11	South Africa	$2,550 M	$406 M	$2,955 M	$2,144 M
#12	Italy	$2,032 M	$623 M	$2,655 M	$1,410 M
#13	Côte d’Ivoire	$2,359 M	$164 M	$2,523 M	$2,194 M
#14	South Korea	$1,818 M	$698 M	$2,516 M	$1,121 M
#15	Brazil	$1,330 M	$1,035 M	$2,365 M	$295 M

15 rows

Products & sectors

Product composition of Nigeria's trade in 2024.

Year

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Concentration & risk

Nigeria's export partners diversified over 1995–2024 — HHI 0.176 → 0.052, a diversified export base across 162 partners in 2024.

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Export and import partner HHI (0–1) and partner counts of Nigeria per year.
Year	Export HHI	Import HHI	Export partners	Import partners
1995	0.176	0.065	87	77
1996	0.156	0.063	113	140
1997	0.159	0.061	100	144
1998	0.180	0.055	115	145
1999	0.155	0.051	128	164
2000	0.238	0.049	137	193
2001	0.181	0.048	126	203
2002	0.127	0.047	134	189
2003	0.191	0.053	135	199
2004	0.265	0.055	127	123
2005	0.305	0.054	132	123
2006	0.241	0.057	149	204
2007	0.234	0.054	169	196
2008	0.207	0.052	176	195
2009	0.130	0.047	174	189
2010	0.141	0.056	180	183
2011	0.095	0.055	169	180
2012	0.069	0.069	172	180
2013	0.064	0.083	171	194
2014	0.064	0.098	174	193
2015	0.068	0.110	175	194
2016	0.075	0.103	167	182
2017	0.075	0.103	165	199
2018	0.068	0.112	173	197
2019	0.065	0.116	170	195
2020	0.056	0.133	173	193
2021	0.061	0.134	172	197
2022	0.057	0.123	167	195
2023	0.050	0.107	159	194
2024	0.052	0.116	162	194

30 rows

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