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Nigeria

Nigeria ranked No. 49 in total trade value through October with a total of $7 billion. Exports totaled $2.2 billion and Imports totaled $4.8 billion, a deficit of $2.6 billion.

January – October 2018

Top Trading Ports

Total Trade: $7 billion

RankPortTotal YTD
1Port of Wilmington, Dela. $1,539,284,194
2Port of Houston $1,084,386,366
3Port of Newark $914,584,514
4Port of Chester, Penn. $804,766,192
5Port of Pascagoula, Miss. $248,781,016
6Port of New York $170,435,360
7Port of Baltimore, Md. $159,579,368
8Port of New Orleans $158,167,255
9Port of Galveston, Texas $135,943,635
10Houston’s George Bush Intercontinental Airport, Texas $130,327,657

U.S. trade with Nigeria rose to $7 billion through October

Nigeria’s trade with the United States rose to $7 billion through the first 10 months of 2018, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 5.53 percent below its total trade during the same time period last year. Nigeria’s exports increased 27.11 percent while imports fell 15.47 percent. The U.S. deficit with Nigeria was $2.6 billion.

Through October, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Wilmington, Dela.; No. 2 Port of Houston; No. 3 Port of Newark; No. 4 Port of Chester, Penn.; and No. 5 Port of Pascagoula, Miss.. During the same period the previous year, the top five were No. 1 Port of Wilmington, Dela. No. 2 Port of Chester, Penn. No. 3 Port of Houston No. 4 Port of Newark and No. 5 Port of Corpus Christi, Texas. In the current time period, the top five accounted for 65.59 percent of Nigeria’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Wilmington, Dela. fell 25.43 percent to $1.54 billion.
    Exports rose 78919 percent to $24.1 million. Imports fell 26.6 percent to $1.52 billion.
  • Trade with No. 2 Port of Houston rose 37.4 percent to $1.08 billion.
    Exports fell 6.03 percent to $543.83 million. Imports rose 156.81 percent to $540.56 million.
  • Trade with No. 3 Port of Newark rose 60.8 percent to $914.58 million.
    Exports rose 28.82 percent to $40.63 million. Imports rose 62.67 percent to $873.95 million.
  • Trade with No. 4 Port of Chester, Penn. fell 58.9 percent to $804.77 million.
    There were no exports. Imports fell 58.9 percent to $804.77 million.
  • Trade with No. 5 Port of Pascagoula, Miss. rose 350.28 percent to $248.78 million.
    Exports totaled $3.39 million. Imports rose 344.15 percent to $245.4 million.

Nigeria ranked No. 49 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 49.

Meanwhile, total U.S. trade with the world increased to $3.51 trillion, up 9.44 percent compared to the same period last year. The nation’s exports climbed 8.95 percent to $1.39 trillion; imports climbed 9.77 percent to $2.12 trillion. The nation’s top five countries so far this year, by value, are China; Canada; Mexico; Japan and Germany. The overall trade deficit was $732.48 billion, up compared to the same period of last year when the deficit was $657.79 billion.

The top five U.S. exports to Nigeria by value through October were the categories of Motor vehicles for transporting people; Gasoline, other fuels; Wheat; Civilian aircraft, parts; and Motor vehicle parts, respectively. They accounted for 55.35 percent of total exports to Nigeria.

The value of the top five categories of U.S. imports from Nigeria –– Oil; Gasoline, other fuels; Value added to a returned import; Nitrogenous fertilizers; and Cocoa Beans –– accounted for 98.26 percent of all inbound shipments.

Looking more closely at U.S. exports to Nigeria:

  • Motor vehicles for transporting people rose 105.64 percent compared to last year to $541.77 million.
  • Gasoline, other fuels rose 41.9 percent compared to last year to $212.73 million.
  • Wheat fell 46.77 percent compared to last year to $178.21 million.
  • Civilian aircraft, parts rose 325.12 percent compared to last year to $176.45 million.
  • Motor vehicle parts rose 89.65 percent compared to last year to $108.65 million.

Looking more closely at U.S. imports from Nigeria:

  • Oil fell 16.18 percent compared to last year to $4.26 billion.
  • Gasoline, other fuels fell 15.37 percent compared to last year to $381.83 million.
  • Value added to a returned import rose 34.9 percent compared to last year to $36.15 million.
  • Nitrogenous fertilizers rose 72 percent compared to last year to $29.56 million.
  • Cocoa Beans fell 48.91 percent compared to last year to $14.58 million.

In the latest annual figures available, Nigeria recorded $9.21 billion in trade with the United States. At year’s end, its were Philadelphia; Houston; New York City; New Orleans; and Baltimore. Total U.S. exports to Nigeria were $ 2.16 billion and imports from Nigeria were $7.05 billion. The U.S. deficit with Nigeria was $4.9 billion.