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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
U.S. goods and services trade with Nigeria totaled an estimated $9.0 billion in 2016 (latest data available). Exports were $4.4 billion; imports were $4.6 billion. The U.S. goods and services trade deficit with Nigeria was $213 million in 2016.
Nigeria is currently our 48th largest goods trading partner with $9.2 billion in total (two way) goods trade during 2017. Goods exports totaled $2.2 billion; goods imports totaled $7.1 billion. The U.S. goods trade deficit with Nigeria was $4.9 billion in 2017.
Trade in services with Nigeria totaled an estimated $2.9 billion in 2016 (latest data available). Services exports totaled $2.5 billion; services imports totaled $411 million. The U.S. services trade surplus with Nigeria was $2.1 billion in 2016.
According to the Department of Commerce, U.S. exports of Goods and Services to Nigeria supported an estimated 35 thousand jobs in 2015 (latest data available) (17 thousand supported by goods exports and 18 thousand supported by services exports).
Nigeria was the United States' 58th largest goods export market in 2017.
U.S. goods exports to Nigeria in 2017 were $2.2 billion, up 14.5% ($276 million) from 2016 but down 21.9% from 2007.
The top export categories (2-digit HS) in 2017 were: vehicles ($467 million), cereals ($409 million), machinery ($330 million), mineral fuels ($239 million), and plastics ($141 million).
U.S. total exports of agricultural products to Nigeria totaled $370 million in 2016. Leading domestic export categories include: wheat ($265 million), corn ($26 million), prepared food ($23 million), condiments & sauces ($12 million), and processed vegetables ($10 million).
Nigeria was the United States' 40th largest supplier of goods imports in 2017.
U.S. goods imports from Nigeria totaled $7.1 billion in 2017, up 69.0% ($2.9 billion) from 2016, but down 78.5% from 2007.
The top import categories (2-digit HS) in 2017 were: mineral fuels ($6.9 billion), cocoa ($31 million), special other ($29 million), fertilizers ($17 million), and art and antiques ($11 million).
U.S. total imports of agricultural products from Nigeria totaled $61 million in 2017. Leading categories include: cocoa beans ($30 million), tree nuts ($9 million), feeds & fodders ($5 million), spices ($4 million), and tea, including herb ($4 million).
The U.S. goods trade deficit with Nigeria was $4.9 billion in 2017, a 114.3% increase ($2.6 billion) over 2016.
U.S. foreign direct investment (FDI) in Nigeria (stock) was $5.8 billion in 2017, a 32.8% increase from 2016. U.S. foreign direct investment (FDI) in Nigeria (stock) was $5.8 billion in 2017, a 32.8% increase from 2016. U.S. direct investment in Nigeria is led by mining.
Nigeria's FDI in the United States (stock) was $61 million in 2017, up 48.8% from 2016. There is no information on the distribution of Nigeria FDI in the U.S.