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Nigeria

Nigeria ranked No. 53 in total trade value through August with a total of $5.21 billion. Exports totaled $2.06 billion and Imports totaled $3.15 billion, a deficit of $1.08 billion.

January – August 2019

Top Trading Ports

Total Trade: $5.21 billion

RankPortTotal YTD
1Port of Houston $741,844,570
2Port of Newark $692,650,618
3Port of Wilmington, Dela. $568,009,379
4Port of Chester, Penn. $432,464,457
5Port of Long Beach $405,228,942
6Port of Morgan City, La. $185,666,181
7Port of Baltimore, Md. $160,832,203
8Shell Oil Terminal, Martinez, Calif. $151,832,860
9Port of Pascagoula, Miss. $135,812,094
10Port of New Orleans $134,697,605

U.S. trade with Nigeria rose to $5.21 billion through August

Nigeria’s trade with the United States rose to $5.21 billion through the first eight months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 8.56 percent below its total trade during the same time period last year. U.S. exports to Nigeria increased 19.77 percent while U.S. imports from Nigeria fell 20.84 percent. The U.S. deficit with Nigeria was $1.08 billion.

Through August, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Houston; No. 2 Port of Newark; No. 3 Port of Wilmington, Dela.; No. 4 Port of Chester, Penn.; and No. 5 Port of Long Beach. During the same period the previous year, the top five were No. 1 Port of Wilmington, Dela. No. 2 Port of Houston No. 3 Port of Chester, Penn. No. 4 Port of Newark and No. 5 Port of Pascagoula, Miss.. In the current time period, the top five accounted for 54.49 percent of Nigeria’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Houston fell 21.38 percent to $741.84 million.
    Exports rose 82.74 percent to $737.81 million. Imports fell 99.25 percent to $4.04 million.
  • Trade with No. 2 Port of Newark rose 8.21 percent to $692.65 million.
    Exports rose 9.87 percent to $33.18 million. Imports rose 8.13 percent to $659.47 million.
  • Trade with No. 3 Port of Wilmington, Dela. fell 55.97 percent to $568.01 million.
    Exports rose 172.34 percent to $43.09 million. Imports fell 58.8 percent to $524.92 million.
  • Trade with No. 4 Port of Chester, Penn. fell 46.26 percent to $432.46 million.
    Exports totaled $2.91 million. Imports fell 46.62 percent to $429.55 million.
  • Trade with No. 5 Port of Long Beach rose 5064.12 percent to $405.23 million.
    Exports rose 51.71 percent to $11.88 million. Imports rose 2081134 percent to $393.35 million.

Nigeria ranked No. 53 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 $2.77 trillion, down 0.32 percent compared to the same period last year. The nation’s exports dropped 0.71 percent to $1.1 trillion; imports dropped 0.07 percent to $1.67 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $575.47 billion, up compared to the same period of last year when the deficit was $568.8 billion.

The top five U.S. exports to Nigeria by value through August were the categories of Motor vehicles for transporting people; Wheat; Gasoline, other fuels; Motor vehicle parts; and Civilian aircraft, parts, respectively. They accounted for 55.3 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 98.05 percent of all inbound shipments.

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

  • Motor vehicles for transporting people rose 9.25 percent compared to last year to $454.18 million.
  • Wheat rose 156.14 percent compared to last year to $382.98 million.
  • Gasoline, other fuels fell 18.45 percent compared to last year to $130.84 million.
  • Motor vehicle parts rose 24.59 percent compared to last year to $102.89 million.
  • Civilian aircraft, parts fell 55.49 percent compared to last year to $70.48 million.

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

  • Oil fell 17.4 percent compared to last year to $2.93 billion.
  • Gasoline, other fuels fell 74.95 percent compared to last year to $75.29 million.
  • Value added to a returned import rose 92.35 percent compared to last year to $64.55 million.
  • Nitrogenous fertilizers fell 33.25 percent compared to last year to $11.44 million.
  • Cocoa Beans fell 35.84 percent compared to last year to $8.02 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.