Dr. Okechukwu E. Enelamah -Nigeria Minister of Industry, Trade & Investment

U.S.-Nigeria Trade

U.S.-Nigeria Trade – Facts and statistics

 

Be part of the bilateral trade opportunities, including in agribusiness. Make plans to attend the US-Nigeria Agribusiness (Non-Oil) Investment Summit (US-NAGRIS 2017)

 

Nigeria is currently the 35th largest goods trading partner with U.S. with $18.2 billion in total (two way) goods trade during 2013. Goods exports totaled $6.5 billion; Goods imports totaled $11.7 billion. The U.S. goods trade deficit with Nigeria was $5.2 billion in 2013.

 

AGOA Status: Nigeria is eligible for AGOA this year. It also qualifies for textile and apparel benefits.

 

Trade Agreements: The U.S. and Nigeria signed a Trade & Investment Framework Agreement (TIFA) in 2000. The sixth U.S.-Nigerian TIFA Council Meeting was held in January 2009.

 

Exports

  • Nigeria was the United States’ 40th largest goods export market in 2013.
  • S. goods exports to Nigeria in 2013 were $6.5 billion, up 28.8% ($1.4 billion) from 2012.
  • The top export categories (2-digit HS) in 2013 were: Mineral Fuel (oil) ($2.1 billion), Vehicles ($1.3 billion), Cereals (wheat) ($962 million), Machinery ($820 million), and Plastic ($185 million).
  • S. exports of agricultural products to Nigeria totaled $ 1.1 billion in 2013. Leading category is: wheat ($959 million).

 

Imports

Nigeria was the United States’ 30th largest supplier of goods imports in 2013.

  • S. goods imports from Nigeria totaled $11.7 billion in 2013, a 38.3% decrease ($7.3 billion) from 2012. Nearly all of U.S. imports from Nigeria was oil.
  • The five largest import categories in 2013 were: Mineral Fuel (oil) ($11.6 billion), Cocoa ($29 million), Special Other (returns) ($21 million), Food Waste ($9 million), and Art and Antiques ($5 million).
  • S. imports of agricultural products from Nigeria totaled $52 million in 2013. Leading category is: cocoa beans ($21 million).

 

Investment

  • S. foreign direct investment (FDI) in Nigeria (stock) was $8.2 billion in 2012 (latest data available), up 53.6% from 2011.
  • S. direct investment in Nigeria is led by the mining sector.
  • Nigeria FDI in the United States (stock) was $22 million in 2012 (latest data available), up 15.8% from 2011.

 

source: The Office of the U.S. Trade Representative (USTR), Executive office of the President of the United States