Nigeria’s main trade partners are Brazil, China, India, Japan, US and the European Union.
Who is our biggest trading partner?
List of the largest trading partners of the United States
What is Nigeria’s biggest import?
- 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%)
What are the most important trade in Nigeria?
Nigeria’s Top 5 Commodity Exports
- Crude Petroleum – $45 billion.
- Petroleum Gas – $8.6 billion.
- Refined Petroleum – $940 million.
- Cocoa Beans – $621 million.
- Gold – $577 million.
Who are America’s 5 most important trade partners?
These are America’s top trading partners
- Argentina. 0.8% 0.3% $17.1B. $6.8B.
- Australia. 2% 0.6% $44.1B. $16.8B.
- Austria. 0.5% $0B. $12.5B.
- Belgium. 1.7% 0.8% $38B. $22.8B.
- Bermuda. 0.5% 0.9% $11.2B. $24.7B.
- Brazil. 2.5% 1.2% $54.4B. $32.9B.
- Canada. 14.6% 11.4% $320.8B. $307.7B.
- Chile. 0.8% 0.4% $17.2B. $10.5B.
Who is China’s biggest trade partner?
China’s Top Trading Partners
- United States: US$452.6 billion (17.5% of China’s total exports)
- Hong Kong: $272.7 billion (10.5%)
- Japan: $142.6 billion (5.5%)
- Vietnam: $113.8 billion (4.4%)
- South Korea: $112.5 billion (4.3%)
- Germany: $86.8 billion (3.4%)
- Netherlands: $79 billion (3%)
- United Kingdom: $72.6 billion (2.8%)
Who is Russia’s biggest trading partner?
The EU is Russia’s biggest trade partner, accounting for 37.3% of the country’s total trade in goods with the world in 2020. 36.5% of Russia’s imports came from the EU and 37.9% of its exports went to the EU. Russia is the origin of 26% of the EU’s oil imports and 40% of the EU’s gas imports*.
Which country is Nigeria largest trading partner?
Main import trading partners of Nigeria as of the 4th quarter of 2020
|Characteristic||Share of import value|
Who imports the most to Nigeria?
Nigeria’s imports 2019 by country
- China with a share of 25% (12 billion US$)
- 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$)
What is the main export of Nigeria?
Exports: The top exports of Nigeria are Crude Petroleum ($46B), Petroleum Gas ($7.78B), Scrap Vessels ($2.26B), Flexible Metal Tubing ($2.1B), and Cocoa Beans ($715M), exporting mostly to India ($10.5B), Spain ($6.32B), United States ($4.68B), France ($4.37B), and Ghana ($4.04B).
Who does Nigeria sell oil to?
Nigeria is an important oil supplier to the United States. For the last nine years, the United States has imported between 9-11 percent of its crude oil from Nigeria; however, United States import data for the first half of 2012 show that Nigerian crude is down to a 5 percent share of total United States crude imports.
What are the benefits of international trade to Nigeria?
On a brighter note, some of the positive impact of international trade on the Nigerian Economy includes:
- Variety of Goods Available for Consumption: …
- Efficient Allocation and Utilization of Resources: …
- Promotes production efficiency: …
- More Employment; …
- Consumption at Cheaper Cost:
What does South Africa export to Nigeria?
Mineral Products: R 27 984 557 685
Raw hides & leather: R 18 565. Wood Products: R 391 464. Wood pulp & paper: R 427 393. Textiles: R 466 455.
Which country does US trade with the most?
Year-to-Date Total Trade
|—||Total, All Countries||403.5|
|—||Total, Top 15 Countries||286.4|
Which country is the largest and closest trading partner to Canada?
List of the largest trading partners of Canada
Who are the US trade partners?
In 2017, United States major trading partner countries for exports were Canada, Mexico, China, Japan and United Kingdom and for imports they were China, Mexico, Canada, Japan and Germany.