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 eighth U.S.-Nigerian TIFA Council Meeting was held in March 2014.
U.S.-Nigeria Trade Facts
In 2019, Nigeria GDP was an estimated $446.5 billion (current market exchange rates); real GDP was up by an estimated 2.2%; and the population was 201 million. (Source: IMF)
U.S. goods and services trade with Nigeria totaled an estimated $10.4 billion in 2019. Exports were $5.3 billion; imports were $5.1 billion. The U.S. goods and services trade surplus with Nigeria was $251 million in 2019.
Nigeria is currently our 54th largest goods trading partner with $7.8 billion in total (two way) goods trade during 2019. Goods exports totaled $3.2 billion; goods imports totaled $4.6 billion. The U.S. goods trade deficit with Nigeria was $1.4 billion in 2019.
Trade in services with Nigeria (exports and imports) totaled an estimated $2.6 billion in 2019. Services exports were $2.1 billion; services imports were $464 million. The U.S. services trade surplus with Nigeria was $1.7 billion in 2019.
- Nigeria was the United States' 52nd largest goods export market in 2019.
- U.S. goods exports to Nigeria in 2019 were $3.2 billion, up 19.1% ($512 million) from 2018 but down 13.2% from 2009.
- The top export categories (2-digit HS) in 2019 were: vehicles ($938 million), cereals (wheat) ($494 million), machinery ($479 million), mineral fuels ($287 million), and plastics ($189 million).
- U.S. total exports of agricultural products to Nigeria totaled $608 million in 2019. Leading domestic export categories include: wheat ($473 million), prepared food ($24 million), wine & beer ($24 million), condiments & sauces ($11 million), and vegetable oils (ex. soybean) ($7 million).
- U.S. exports of services to Nigeria were an estimated $2.1 billion in 2019, 5.1% ($115 million) less than 2018, but 63.8% greater than 2009 levels. Leading services exports from the U.S. to Nigeria were in the travel, transport, and technical and other services sectors.
- Nigeria was the United States' 51st largest supplier of goods imports in 2019.
- U.S. goods imports from Nigeria totaled $4.6 billion in 2019, down 17.9% ($1.0 billion) from 2018, and down 75.9% from 2009.
- The top import categories (2-digit HS) in 2019 were: mineral fuels ($4.4 billion), special other (returns) ($80 million), oilseeds and oleaginous fruits (plants) ($15 million), fertilizers ($11 million), and cocoa ($10 million).
- U.S. total imports of agricultural products from Nigeria totaled $50 million in 2019. Leading categories include: cocoa beans ($8 million), feeds & fodders ($8 million), tea, including herbal ($8 million), spices ($7 million), and tree nuts ($6 million).
- U.S. imports of services from Nigeria were an estimated $464 million in 2019, 1.3% ($6 million) less than 2018, but 7.9% less than 2009 levels. Leading services imports from Nigeria to the U.S. were in the travel, research and development, and transport sectors.
- The U.S. goods trade deficit with Nigeria was $1.4 billion in 2019, a 51.9% decrease ($1.5 billion) over 2018.
- The United States has a services trade surplus of an estimated $1.7 billion with Nigeria in 2019, down 6.2% from 2018.
- U.S. foreign direct investment (FDI) in Nigeria (stock) was $5.5 billion in 2019, a 21.5% increase from 2018. There is no information on the distribution of U.S. FDI in Nigeria.
- Nigeria's FDI in the United States (stock) was $105 million in 2019, up 29.6% from 2018. There is no information on the distribution of Nigeria FDI in the U.S.
- Sales of services in Nigeria by majority U.S.-owned affiliates were $921 million in 2017 (latest data available), while sales of services in the United States by majority Nigeria-owned firms were $5 million.