Importing from Nigeria

Nigeria Import Guide | Trade Finance Global

Importing from Nigeria

In recent years, Nigeria’s Gross Domestic Product (GDP) growth averaged around 7% and become the largest economy In Africa. Nigeria is the second largest African economy, fourty first largest export economy in the world and is the 119th most complex economy according to the Economic Complexity Index (ECI). On average, Nigeria exported around $95B and imported over $50B, which resulted in a positive trade balance of around $45B. The GDP of Nigeria is around $520B and its GDP per capita is over $5k.

Its main imports into Nigeria are refined petroleum (around $9B), cars (under $2B), wheat (almost $1.5B), rolled tobacco (over $1.2B) and special purpose ships (over $1B). The import countries are China (around $11B), US (under $6B), the Netherlands ($3.5B), Belgium-Luxembourg (around $3B) and India (over $2.5B).

The average yearly import value in Nigeria was around 161000 NGN Millions from around 1980 until 2015, with a height of 1555000 NGN millions at the beginning of 2011 and a low of around 160 NGN Millions in 1984. Nigerian imports are broken down into industrial supplies (around 25%), capital goods (around 20%), food and beverage (15%), fuel and lubricants (around 10%), transport equipment (10%) and consumer goods (5%). Almost half of total imports come from Asia; with a third coming from Europe; around 15% are from America and over 5% from Africa.

Importing from Nigeria? Contact our local experts

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(Marketing Terms can be found here)

1.00 GBP
British Pound
1.00 GBP = NGN
=
NGN
Nigerian Naira
1.00 NGN = INF GBP

Country Profile

CapitalFederal Republic of NigeriaJamhuriyar Taraiyar Nijeriya(Hausa)??h?jk?? ??hnz Najryࠠ(Igbo)Orl??-d Olmniira pap?? Njrࠠ(Yoruba) Flag Coat of arms Motto:"Unity and Faith, Peace and Progress" Anthem:"Arise, O Compatriots" Location of Nigeria shown in dark green Abuja
Population 190,886,311
Area 923,768  km2 (356,669 sq mi)
km2 (32nd)
Currency Naira (NGN)
GDP
LanguagesEnglish

-1.54

Econ Complexity 120th of 214
1980
2016

$36.9B

Exports 51st of 221
1980
2016

$35.1B

Imports 57th of 221
1980
2016

$5.86k

GDP Per Capita 127th of 214
1990
2016

Nigeria: Exports Profile

Exports from Nigeria

Exports from Nigeria: $40.81 billion
Export commodities:Petroleum and petroleum products, chemicals, vehicles, aircraft parts, vessels, vegetable products, processed food, beverages, spirits and vinegar, cashew nuts, processed leather, cocoa, tobacco, aluminum alloys (2015)
Top export destinations:India 14.1%, Spain 10.3%, Netherlands 10.3%, South Africa 8.4%, Brazil 5.1%
GDP growth (annual %)

Importing from Nigeria? Contact our local experts

First Name*

Last Name*

Your Organisation*

How much trade finance are you seeking?*

Your Email*

Telephone Number*

Briefly, what type of stock or trade are you looking to finance?

(Marketing Terms can be found here)

Country Profile

CapitalFederal Republic of NigeriaJamhuriyar Taraiyar Nijeriya(Hausa)??h?jk?? ??hnz Najryࠠ(Igbo)Orl??-d Olmniira pap?? Njrࠠ(Yoruba) Flag Coat of arms Motto:"Unity and Faith, Peace and Progress" Anthem:"Arise, O Compatriots" Location of Nigeria shown in dark green Abuja
Population 190,886,311
Area 923,768  km2 (356,669 sq mi)
km2 (32nd)
Currency Naira (NGN)
GDP
LanguagesEnglish

-1.54

Econ Complexity 120th of 214
1980
2016

$36.9B

Exports 51st of 221
1980
2016

$35.1B

Imports 57th of 221
1980
2016

$5.86k

GDP Per Capita 127th of 214
1990
2016
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