What are Nigeria’s main imports?

What is Nigeria’s major imports?

Top 10 Import Goods

HS Code Import USD$
(84) Industrial Machinery $8,965,842,572
(27) Oil & Mineral Fuels $7,371,317,211
(87) Motor Vehicles & Parts $5,625,687,386
(85) Electrical Machinery $3,717,637,037

Where does Nigeria import from?

Nigeria Product Imports by country

In 2018, the top partner countries from which Nigeria Imports All Products include China, Netherlands, Korea, Rep., Belgium and United States.

What is the major export of Nigeria?

Top exports are crude petroleum ($35.6B), petroleum gas ($6.47B), and refined petroleum ($774M). Nigeria exports crude oil and imports refined oil due to a lack of refineries and limited technology. Over-reliance on petroleum products exposes the country to inflation and unstable revenues due to fluctuating oil prices.

What food does Nigeria import?

Nigeria relies on imports to meet its food and agricultural product needs (mostly wheat, rice, poultry, fish, food services, consumer-oriented foods, etc.) worth about $10 billion annually. Europe, Asia, the United States, South America and South Africa are major sources for agricultural imports.

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What is Nigeria’s biggest import?

Top 10

  • Machinery including computers: US$9.9 billion (18.6% of total imports)
  • Mineral fuels including oil: $8.2 billion (15.4%)
  • Vehicles: $5.3 billion (10.1%)
  • Electrical machinery, equipment: $3.7 billion (7%)
  • Pharmaceuticals: $2.8 billion (5.3%)
  • Plastics, plastic articles: $2.4 billion (4.5%)
  • Cereals: $2.2 billion (4.2%)

1.04.2021

Who imports the most to Nigeria?

Nigeria’s imports 2019 by country

  • China with a share of 25% (12 billion US$)
  • India with a share of 12% (5.7 billion US$)
  • USA with a share of 9.87% (4.67 billion US$)
  • Netherlands with a share of 7.37% (3.49 billion US$)
  • Belgium with a share of 5.01% (2.37 billion US$)
  • Swaziland with a share of 3.28% (1.55 billion US$)

5.04.2021

Which country is Nigeria largest trading partner?

The largest source of import value in Nigeria derives from mineral fuels, oils, and distillation products.

Main import trading partners of Nigeria as of the 4th quarter of 2020.

Characteristic Share of import value
China 28.28%
United States 8.54%
Netherlands 7.57%
India 7.16%

What is Nigeria known for producing?

Major crops include beans, rice, sesame, cashew nuts, cassava, cocoa beans, groundnuts, gum arabic, kolanut, maize (corn), melon, millet, palm kernels, palm oil, plantains, rice, rubber, sorghum, soybeans, bananas and yams. In the past, Nigeria was famous for the export of groundnut and palm kernel oil.

What is the official language of Nigeria?

English

What is Nigeria’s most profitable export?

Searchable List of Nigeria’s Most Valuable Export Products

Rank Nigeria’s Export Product 2020 Value (US$)
1 Crude oil $25,263,082,000
2 Petroleum gases $4,317,581,000
3 Breaker vessels $1,261,256,000
4 Light vessels, fire boats, floating docks $754,507,000
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What are the main industries in Nigeria?

The largest industries in the country are the petroleum industry, tourism, agriculture, and mining. The petroleum industry currently suffers from oil theft, which is believed to cost the country potential revenues valued as much as USD 10.9 billion. Significant oil losses are also recorded due to oil spills.

What does the US import from Nigeria?

U.S. total imports of agricultural products from Nigeria totaled $50 million in 2019. Leading categories include: cocoa beans ($8 million), feeds & fodders ($8 million), tea, including herbal ($8 million), spices ($7 million), and tree nuts ($6 million).

Is Nigeria food sufficient?

Between 2010 and 2017, the number of undernourished people in Nigeria has more than doubled to 21 million, the biggest jump of any nation in Africa. This means that many Nigerians lack access to nutritious food required for healthy living. Without this food, people starve to death.

Does Nigeria import pork?

In 2019, pig meat imports quantity for Nigeria was 3,010 thousand tonnes. Though Nigeria pig meat imports quantity fluctuated substantially in recent years, it tended to increase through 1970 – 2019 period ending at 3,010 thousand tonnes in 2019.

Does Nigeria import egg?

Imports: In 2019, Nigeria imported $7.73M in Eggs, becoming the 62nd largest importer of Eggs in the world. At the same year, Eggs was the 486th most imported product in Nigeria. Nigeria imports Eggs primarily from: Netherlands ($2.03M), France ($2.01M), United Kingdom ($1.98M), South Africa ($631k), and Spain ($630k).

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