Nigeria’s main trade partners are Brazil, China, India, Japan, US and the European Union. The country’s long-term economic performance remains broadly positive, driven by rising oil and gas production.
Which country is the largest trading partner of Nigeria?
In the fourth quarter of 2020, Nigeria’s main import partner was China.
Main import trading partners of Nigeria as of the 4th quarter of 2020.
|Characteristic||Share of import value|
What countries does Nigeria export goods to?
Top 10 Export Countries
Does America trade with Nigeria?
U.S. goods and services trade with Nigeria totaled an estimated $10.4 billion in 2019. … Nigeria is currently our 54th largest goods trading partner with $7.8 billion in total (two way) goods trade during 2019. Goods exports totaled $3.2 billion; goods imports totaled $4.6 billion.
Is India richer than Nigeria?
India has a GDP per capita of $7,200 as of 2017, while in Nigeria, the GDP per capita is $5,900 as of 2017.
Which two countries trade the most?
Year-to-Date Total Trade
|—||Total, All Countries||1,093.7|
|—||Total, Top 15 Countries||853.3|
What is Nigeria’s biggest import?
Imports: The top imports of Nigeria are Refined Petroleum ($10B), Cars ($1.57B), Wheat ($1.48B), Laboratory Glassware ($1.45B), and Packaged Medicaments ($1.32B), importing mostly from China ($15.5B), Netherlands ($5.91B), India ($3.76B), United States ($3.22B), and Belgium ($2.81B).
What food does Nigeria Export?
According to the reports, Nigeria’s major agricultural exports so far in 2019 include Sesamum seeds (whether or not broken), Cashew nuts, fermented Cocoa Beans, Superior quality raw cocoa beans, Other Frozen shrimps and prawns, Ginger and Natural Cocoa butter, ginger and agro-foods.
What is the main industry 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 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.
What is Nigeria known for producing?
Though Nigeria is no longer a major exporter, due to local consumer boom, it is still a major producer of many agricultural products, including: cocoa, groundnuts (peanuts), rubber, and palm oil.