Nigéria flag Nigéria: Contexto político-econômico

Valores de comércio da Nigéria

Foreign Trade in Figures

Nigeria is relatively open to trade, which accounts for 23% of its GDP (World Bank, latest data available). The objective of Nigeria's trade policy is to promote and diversify its exports by reinforcing national competitiveness and encouraging liberalization through the reduction of subsidies. The country mainly exports petroleum oils and petroleum gas (mineral products account for 90% of total exports), and boats (3.4%); while imports are lead by mineral products (40%), machinery (16.9%), chemical products (8.6%), and vehicles (6.5% - data National Bureau of Statistics 2022).

Nigeria's main export partners are India (12.6% of total exports), Spain (12%), the Netherlands (9.6%), the U.S. (6.8%), and France (5.8%). Its main suppliers are China (22.7% of total imports), the Netherlands (10.4%), India (7.9%), the United States (5.6%), and France (2.6% - data NBS 2022). Nigeria is a member of the World Trade Organization (WTO) and has signed several regional and bilateral trade agreements. The country is a member of the Economic Community of West African States (ECOWAS) and has signed the African Continental Free Trade Area (AfCFTA) agreement, which aims to create a single market for goods and services among African countries. The Nigerian government has implemented various measures to promote exports, such as the Export Expansion Grant (EEG) and the Nigerian Export Supervision Scheme (NESS). These measures aim to encourage non-oil exports, promote value addition, and increase competitiveness. Lingering barriers to trade and investment persist in the country, mainly due to long bureaucratic delays.

Nigeria’s trade balance is structurally positive, but it occasionally turns negative when oil prices and production drop. According to World Bank data, in 2021 the trade balance was negative by 1.1% of GDP. In the same year, exports of goods amounted to USD 46.9 billion, whereas imports reached USD 51.9 billion (+32.7% and -6.7% y-o-y, respectively - WTO). Exports of services stood at USD 4 billion, while imports totalled USD 15.1 billion (WTO).
Economic recovery and higher oil revenues resulted in a trade surplus in 2022: according to figures from CBS, exports increased by 41.7% vis-à-vis 2021 to NGN 26.8 trillion while imports reached NGN 25.6 trillion (+22.8%).

Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 43,00755,25735,74051,88060,351
Exports of Goods (million USD) 60,54762,53135,63446,87163,075
Imports of Services (million USD) 30,88438,71019,83316,05718,820
Exports of Services (million USD) 4,8184,9493,9933,9964,864

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP)
Trade Balance (million USD) 20,4672,868-16,402-4,5625,998
Trade Balance (Including Service) (million USD) -5,599-30,893-32,241-16,622-7,958
Imports of Goods and Services (Annual % Change) 49.227.3-61.944.4n/a
Exports of Goods and Services (Annual % Change) -1.415.0-33.4-32.1n/a
Imports of Goods and Services (in % of GDP) 17.519.88.211.8n/a
Exports of Goods and Services (in % of GDP) 15.514.28.110.7n/a

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2023 (e)2024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 4.9-8.3-4.2-6.82.0
Volume of imports of goods and services (Annual % change) -6.0-6.3-3.8-4.42.7

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

International Economic Cooperation
Member of Economic Community of West African States (ECOWAS)

Member of Organisation of the Petroleum Exporting Countries (OPEC)

Member of African Union (AU)

The country has signed a trade agreement with 21 other countries in the São Paulo Round of the Global System of Trade Preferences among Developing Countries (GSTP).


Main Partner Countries

Main Customers
(% of Exports)
India 16.4%
Spain 11.8%
France 6.3%
Netherlands 6.0%
Canada 4.5%
See More Countries 55.0%
Main Suppliers
(% of Imports)
China 24.7%
Netherlands 10.3%
India 8.8%
Belgium 7.3%
United States 6.1%
See More Countries 42.8%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.


To go further, check out our service Import Export Flows.


Main Services

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Últimas atualizações em November 2023