Nigeria Export Data

Nigeria Export Data

Nigeria is a country located in West Africa with a diverse economy and abundant natural resources. It has experienced significant growth in recent years, making it one of the top exporters in the continent. In this section, we will delve into the predicted export rank and GDP of Nigeria for 2023, as well as its population and top exporting products and destinations.

Nigeria is expected to be ranked as the 19th largest exporter in the world by 2023. This is a significant jump from its current ranking of 25th. The country's export value is also projected to increase from $49 billion in 2019 to $77 billion in 2023, showcasing its potential for economic growth.

In terms of GDP, Nigeria's economy is expected to continue its upward trend and reach $427 billion by 2023. This would make it the third-largest economy on the African continent after Egypt and South Africa. The country's GDP has been steadily increasing over the past decade due to various reforms implemented by the government, such as diversifying its economy beyond oil.

As for population, Nigeria is currently ranked as the seventh most populous country globally with an estimated population of over 200 million people. By 2023, it is projected that this number will increase to approximately 230 million due to high birth rates and improved life expectancy. This growing population presents both challenges and opportunities for Nigeria's export industry.

Top exporting products in Nigeria for 2023, oil remains at the forefront despite efforts towards diversification. Other notable exports include cocoa beans, rubber, leather products, and agricultural goods like sesame seeds and cashews. These commodities are crucial for sustaining economic growth and reducing dependence on oil revenue.

Top Export destination markets for Nigerian exports in 2023, Asia is expected to remain at the top spot with China being its largest trading partner followed by India. Other top export destinations include the United States, Spain, and the Netherlands. The demand for Nigerian goods in these countries is driven by factors such as raw material needs, population growth, and trade agreements.

Nigeria Export Customs Trade Data Shows Top 10 Exporting Products In 2023 – Analysis By Chapter

  • 91% (59 billion US dollar) HS CODE: 27 - Bituminous substances; mineral waxes; mineral fuels, mineral oils, and products of their distillation
  • 1.64% (1.06 billion USdollar)HS CODE: 31 - Fertilizers
  • 1.31% (856 million USdollar)HS CODE: 12 - Miscellaneous grains, seeds, fruits; industrial or medicinal plants; straw and fodder; oil seeds and oleaginous fruits
  • 1.25% (815 million USdollar)HS CODE: 18 - Preparations containing cocoa
  • 0.541% (352 million USdollar)HS CODE: 08 - Fruit and nuts that can be eaten; peel of citrus fruits and melons
  • 0.462% (301 million USdollar)HS CODE: 76 - Articles made from aluminum
  • 0.304% (198 million USdollar)HS CODE: 89 - Floating structures, ships, and boats
  • 0.294% (191 million USdollar)HS CODE: 74 - Articles made from copper
  • 0.261% (170 million USdollar)HS CODE: 26 - Slag, ash, and ores
  • 0.243% (158 million USdollar)HS CODE: 84 - Parts of nuclear reactors, boilers, machinery, and mechanical appliances

Nigeria Export Global Trade Data Shows Top 10
Trading Partners
of Nigeria

  • With a share of 12.5% (8.17 billion US$), Netherlands dominates
  • With a share of 9.41% (6.13 billion US$), Spain dominates
  • With a share of 8.36% (5.44 billion US$), India dominates
  • With a share of 7.46% (4.86 billion US$), USA dominates
  • With a share of 6.54% (4.26 billion US$), Indonesia dominates
  • With a share of 6.53% (4.25 billion US$), France dominates
  • With a share of 5.94% (3.86 billion US$), Canada dominates
  • With a share of 4.01% (2.61 billion US$), Côte d`Ivoire dominates
  • With a share of 3.91% (2.55 billion US$), United Kingdom dominates
  • With a share of 3.87% (2.52 billion US$), Italy dominates

Nigeria Export Data Sample

Boost Your Business Internationally by using Nigeria's Export Data provided by Import Globals

Nigeria is a country with a thriving export industry, contributing significantly to its economy. In order to keep track of the goods being exported from the country, accurate and up-to-date data is essential. This is where Import Globals comes in – providing reliable and comprehensive Nigeria Export Data collected directly from the customs shipping bill documents.

The customs shipping bill document, also known as the Bill of Entry, is an official document that contains all the necessary information about exports leaving Nigeria. It includes details such as the product description, Harmonized System (HS) code, importer and exporter company names, value, quantity, and destination. Nigeria Export Data is crucial for businesses looking to expand their market or investors seeking potential opportunities in Nigeria's export industry.

The HS code mentioned on the customs shipping bill document refers to a unique six-digit code assigned to each product by international organizations for standardizing trade transactions. By having access to this data through Import Globals' services, businesses can easily identify which products are being exported from Nigeria in large quantities and at what frequency. This valuable information can help them make informed decisions about their supply chain management and target specific markets for their products.

Moreover, importers and exporters can benefit greatly from knowing who they are doing business with. The importer/exporter company name provided on the customs shipping bill document allows for easy identification of potential business partners and helps build trust between parties involved in trade transactions.

Another essential aspect of Nigeria Export Shipment Data provided by Import Globals is its coverage of both value and quantity of goods being exported. With this information at hand, businesses can analyze market trends to determine demand levels for certain products in different countries. This knowledge enables them to plan their export strategy accordingly and maximize profits.

Knowing the destination country mentioned on the customs shipping bill document provides a clear picture of where Nigerian exports are heading globally. This insight into export destinations can open doors for new partnerships with companies operating in these regions or even encourage businesses to explore new markets for their products.

Import Globals helps various industries such as trade associations, research companies, business consulting firms, traders, manufacturers and logistics firms stay informed and make well-informed decisions.

By utilizing Import Globals' custom data for Nigerian exports is for trade associations. These organizations represent specific industries or groups of businesses and work towards promoting their interests both domestically and internationally. With access to accurate export data from Import Globals, these associations can better understand their members' performance in the global market and identify opportunities for growth.

For research companies that gather data on various markets and trends, Nigeria's export custom data provides valuable insights into the country's economy. This information can be used to analyze trends over time and make predictions about future developments in specific industries. Additionally, researchers can use this data to identify potential partners or competitors within Nigeria's export market.

Business consulting firms can also benefit greatly from Import Global's Nigerian Export Data services. By having access to reliable information on exports leaving the country, these firms can provide valuable insights to their clients looking to enter or expand into Nigeria's market. This allows them to offer tailored advice based on current trends and opportunities within specific industries.

Traders who are involved in importing goods from Nigeria will find tremendous value in using Import Global's custom data services as well. It enables them to keep track of shipments leaving the country accurately while identifying new potential suppliers or buyers within Nigeria's export market.

For manufacturers, Import Global's Nigerian Export Data is a valuable tool for identifying potential markets for their products. By analyzing the data, they can identify countries that have a high demand for their goods and adjust their production accordingly.

Logistics firms involved in shipping goods to and from Nigeria can also benefit from Import Global's custom data services. With accurate information on exports leaving the country, these companies can better plan and optimize their shipments, reducing costs and increasing efficiency.

Import Globals' Nigerian Export Custom Data is beneficial for all industries mentioned above as it provides comprehensive and up-to-date information on the country's export industry. This allows businesses to make well-informed decisions that will contribute to their growth and success in Nigeria's dynamic market.

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