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Nigeria import Statistics

Nigeria Import Data

The Federal Republic of Nigeria is another name for Nigeria. West Africa is home to Nigeria. The nation is situated directly between the Gulf of Guinea to the south and the Sahel to the north. Nigeria is made up of 36 states because it is a federal country. Its total land area is almost 923,769 km^2. According to ECI, Nigeria is ranked 125th out of all the nations with the most complex economies. In today's interconnected world, knowing the import trends and data of a country is essential for both policymakers and businesses. Nigeria, as one of the largest economies in Africa, presents immense opportunities for international trade.

According to Nigeria's import data, Nigeria imported goods worth a total of $45.9 billion in 2023. According to import statistics, Nigeria ranked 61st out of 226 nations in terms of overall imports. Nigeria’s total GDP is $1.27 trillion, while its GDP import share is 11.84%. China is the biggest import partner of Nigeria, while mineral fuels and oils are Nigeria’s biggest export. Nigeria is part of major trading blocs such as GATT and WTO. Let us gain insights into Nigeria's import data, specifically focusing on the trade trends and opportunities that can be expected in 2023.

Nigeria Import Data | Nigeria Customs Data | Nigeria Trade Data

61

The country has been ranked 61st in global imports, showing a significant position in the international trade landscape and import market.

0.3%

With a mere 0.3% share in global import trade, it becomes evident that its presence in the international import market is fairly on the rise.

CHINA

China holds a significant role as the largest import partner of the country in terms of goods imports and import share.

MINERAL FUELS AND OILS

Mineral fuels and oils are the biggest import commodities of the country, playing a vital role in its economy.

import

Top 10 Imports of Nigeria

Nigeria, being a key player in the international trade market, heavily relies on imports to meet its domestic demands and foster economic growth. The top 10 imports of Nigeria encompass a diverse range of goods. Nigeria’s top 10 imports in 2023, according to its import data include:

  • Mineral fuels and oils (HS code 27): 33.44% ($20.25 billion) 
  • Vehicles (HS code 87): 20.63% ($12.49 billion) 
  • Nuclear reactors and machinery (HS code 84): 9.39% ($5.68 billion) 
  • Electrical machinery and equipment (HS code 85): 4.78% (2.89 billion US$) 
  • Cereals (HS code 10): 3.37% ($2.04 billion) 
  • Plastics and articles thereof (HS code 39): 2.8% ($1.69 billion) 
  • Sugars and Sugar confectionery (HS code 17): 1.72% ($1.60 billion) 
  • Paper and paperboard (HS code 48): 1.41% ($1.04 billion) 
  • Articles of iron or steel (HS code 73): 1.32% ($856.57 million) 
  • Fish and other aquatic invertebrates (HS code 03): 1.17% ($798.32 million)
    • Partners

    Top 10 Import Partners of Nigeria

    Furthermore, Nigeria's top 10 import partners serve as crucial trading partners, fostering economic cooperation and ensuring a steady flow of goods into Nigeria's market. Nigeria’s top 10 import partners in 2023 include:

    Value In Percentage(%)

  • China: 18.4% (11.13 billion US$)
  • Singapore: 14.3% (8.68 billion US$)
  • Belgium: 9.4% (5.69 billion US$)
  • India: 8% (4.87 billion US$)
  • USA: 6.2% (3.76 billion US$)
  • Netherlands: 5% (3.04 billion US$)
  • Malta: 3.5% (2.09 billion US$)
  • South Korea: 2.7% (1.61 billion US$)
  • Saudi Arabia: 2.3% (1.40 billion US$)
  • Russia: 2.3% (1.36 billion US$)
    • Sample Data

    Understanding Nigeria's Import Data

    We obtain trustworthy data from organizations, shipping businesses, and customs ports. This Trade Data contains a wide range of fields, such as HS codes, product descriptions, prices, quantities, origin country, destination country, and port names together with currency values. For traders and marketers, this trade data is crucial information that helps them to make informed decisions. From the HS codes and product descriptions to the quantity and cost of each product, everything can be obtained through this trade data. We have included a sample of this trade data for your convenience and greater understanding so that you can see what the trade data looks like as a whole, with complete details.

    To make informed decisions, it is crucial to understand what import data signifies. Nigeria's import data refers to the records and statistics that capture the flow of goods into the country from international sources. These records provide vital information about the quantity, value, source, and type of goods being imported. Nigeria's import data highlights the potential for businesses to establish or strengthen trade partnerships with the country. According to Nigeria's customs data for imports, Nigeria imported goods worth a total of $45.9 billion in 2023. The information we provide you about Nigerian import data and shipment data is highly helpful and informative. All of the information in our database is derived from recently updated shipping bills, invoices, and other crucial transaction documents. We obtain trustworthy data from organizations, shipping businesses, and customs ports in Nigeria. Nigeria's import data contains a wide range of fields, such as HS codes, product descriptions, quantities and prices, port names, and currency values. Nigerian import data, which is derived from Nigerian customs data, is a kind of data that includes shipping information along with a wealth of other details. So, as you can see, we obtain trustworthy data from organizations, shipping businesses, and customs ports. The trade data contains a wide range of fields, such as HS codes, product descriptions, prices, quantities, origin country, importers/exporters names and addresses, destination country, and port names together with currency values. For traders and marketers, this trade data is crucial information that helps them make informed decisions. From the HS codes and product descriptions to the quantity and cost of each product, everything can be obtained through this trade data. We have included a sample of the trade data for your convenience and greater understanding so that you can see what the trade data looks like as a whole, with complete details.

    Benefits

    Benefits of Nigeria's Import Data

  • Expand your business into the Nigerian Market.
  • View Nigeria's most recent product demand.
  • Track and Examine the Shipment History of Your Rivals.
  • Give your marketing plan an approach based on data.
  • Create a powerful brand identity in Nigeria.
  • Create more ROI and long-term business goals.
  • You’ll receive the name and address of the importer/exporter in our reports.

    • Frequently Asked Questions!!

    Nigeria import data refers to the information and statistics related to the goods and services that are brought into the country from other countries.

    Nigeria's import data is important because it provides insights into the country's trade patterns, helps in identifying potential markets and products for import, and informs policy decisions related to imports and exports.

    Nigeria import data is collected by the Nigerian Customs Service (NCS) through the submission of import declarations by importers and the processing of these declarations by the NCS.

    Nigeria import data includes information on the value, quantity, and origin of imported goods, as well as the customs duties and taxes paid on these goods.

    Nigeria's major imports include mineral fuels and oils, machinery and equipment, food and live animals, and vehicles.

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