Nigeria
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. See the press release below for details.
U.S.-Nigeria Trade Facts
Nigeria is currently our 23rd largest goods trading partner with $38.6 billion in total (two way) goods trade during 2011. Goods exports totaled $4.8 billion; Goods imports totaled $33.7 billion. The U.S. goods trade deficit with Nigeria was $28.9 billion in 2011.
Exports
Nigeria was the United States' 44th largest goods export market in 2011.
U.S. goods exports to Nigeria in 2011 were $4.8 billion, up 18.4% ($747 million) from 2010.
The top export categories (2-digit HS) in 2011 were: Cereals (wheat) ($1.2 billion), Vehicles ($1.1 billion), Machinery ($720 million), Mineral Fuel (oil) ($597 million), and Plastic ($187 million).
U.S. exports of agricultural products to Nigeria totaled $ 1.3 billion in 2011. Leading category is: wheat ($1.2 billion).
Imports
Nigeria was the United States' 16th largest supplier of goods imports in 2011.
U.S. goods imports from Nigeria totaled $33.7 billion in 2011, a 10.6% increase ($3.2 billion) from 2010. Nearly all of U.S. imports from Nigeria was oil. U.S. imports from Nigeria accounted for 1.5% of total U.S. imports for 2011.
The five largest import categories in 2011 were: Mineral Fuel (oil) ($33.6 billion), Cocoa ($61 million), Rubber ($28 million), Special Other (returns) ($26 million), Food Waste ($6 million).
U.S. imports of agricultural products from Nigeria totaled $107 million in 2011. Leading categories include: cocoa beans ($56 million), and rubber ($28 million).
Trade Balance
The U.S. goods trade deficit with Nigeria was $28.9 billion in 2011, a 9.4% increase ($2.5 billion) from 2010.
Historical Trade Data
U.S. Goods Trade with Nigeria (in billions of dollars)
|
1980 |
1990 |
1994 |
2000 |
2006 |
2008 |
2009 |
2010 |
2011 |
Balance |
-9.8 |
-5.4 |
-3.9 |
-9.8 |
-25.6 |
-34.0 | -15.4 | -26.4 | -28.9 |
Exports |
1.1 |
0.6 |
0.5 |
0.7 |
2.2 |
4.1 | 3.7 | 4.1 | 4.8 |
Imports |
10.9 |
6.0 |
4.4 |
10.5 |
27.9 |
38.1 | 19.1 | 30.5 | 33.7 |
U.S. foreign direct investment (FDI) in Nigeria (stock) was $5.2 billion in 2010 (latest data available), up 5.1% from 2009.
U.S. direct investment in Nigeria is concentrated in the mining sector.
Nigeria FDI in the United States (stock) was not available in 2010. It was $164 million in 2008.
*NOTE: No services trade data with Nigeria is available.
- 9/12/2012
- 3/30/2009
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