What is the value of US trade with Nigeria?
Updates published annually
$6.41 billion in imports and $6.63 billion in exports in 2024. That means that the US exported $221 million more to Nigeria than we imported from it. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
$6.41B
Value of imports from Nigeria to the US (2024)
$6.63B
Value of exports from the US to Nigeria (2024)
Exports are goods and services the US sells to other countries. Imports are goods and services the US buys from other countries. Combining the value of imports and exports shows us how much trade happens between the US and other countries.
The Bureau of Economic Analysis (BEA) provides data for 71 of the US' trading partners (though not necessarily the top 71 trading partners). The partners they track accounted for 94.3% of total trade with the US in 2024.
BEA data ranks Nigeria as the US’ 52nd top trading partner: In 2024, the US traded $13 billion in goods and services with Nigeria. Countries with similar trade values include Greece ($14B) and Venezuela ($11.9B).
In 2024, the US traded $13 billion in goods and services with Nigeria.
Total trade value (imports + exports) with the US (2024), by select countries
Another way to look at international trade is through trade balance. A nation that imports more than it exports, has a trade deficit. One that exports more than it imports has a trade surplus. Neither is inherently good or bad; trade balance is just a metric that shows the relationship between imports and exports.
The US had a trade surplus with Nigeria in 2024. The 2024 surplus was $221 million, an increase from 2023's deficit of $1.64 billion.
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The trade surplus with Nigeria increased to $221M in 2024.
Annual trade balance with Nigeria, not adjusted for inflation
In 2024, 90.1% of imports from Nigeria to the US were goods. The largest category was industrial supplies and materials (items used up in the production process, like oil, chemicals, and plastic), accounting for $5.61 billion. The top three imports were industrial supplies and materials, food, feeds, and beverages, and consumer goods (goods and services purchased by individuals for personal use, like clothing and cellphones). These categories accounted for $5.75 billion of total imports.
The other 9.9% were services, with travel being the largest service category. Travel (money leaving the US by Americans spending on things like lodging, meals, transportation, and entertainment abroad) accounted for $295 million.
Industrial supplies and materials made up 87.6% of US imports from Nigeria in 2024.
US imports from Nigeria by category (2024)
In 2024, more US exports to Nigeria were goods — 64.8%. The largest export was industrial supplies and materials, which accounted for a value of $2.42 billion. The top three exports were industrial supplies and materials, capital goods (tools used for the production process, like machinery and equipment), and automotive vehicles and parts. These categories accounted for $3.88 billion of exports to Nigeria.
The other 35.2% were services, with travel being the largest service category. Travel (money entering the US from foreign visitors on expenses like lodging, meals, transportation, and entertainment) accounted for $1.37 billion.
Industrial supplies and materials made up 36.5% of US exports to Nigeria in 2024.
US exports to Nigeria by category (2024)
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
