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Nigeria

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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. Exports were $4.4 billion; imports were $4.6 billion. The U.S. goods and services trade deficit with Nigeria was $216 million in 2016.

Nigeria is currently our 56th largest goods trading partner with $6.1 billion in total (two way) goods trade during 2016. Goods exports totaled $1.9 billion; goods imports totaled $4.2 billion. The U.S. goods trade deficit with Nigeria was $2.3 billion in 2016.

Trade in services with Nigeria (exports and imports) totaled an estimated $2.9 billion in 2016. Services exports were $2.5 billion; services imports were $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). 

Exports

  • Nigeria was the United States' 60th largest goods export market in 2016.

  • U.S. goods exports to Nigeria in 2016 were $1.9 billion, down 44.8% ($1.5 billion) from 2015 and down 15.2% from 2006.  

  • The top export categories (2-digit HS) in 2016 were: machinery ($350 million), vehicles ($300 million), cereals (wheat) ($293 million), mineral fuels ($152 million), and plastics ($129 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).

  • U.S. exports of services to Nigeria were an estimated $2.5 billion in 2016, 7.0% ($185 million) less than 2015.  Leading services exports from the U.S. to Nigeria were in the travel, transport, and technical and other services sectors. 

Imports

  • Nigeria was the United States' 50th largest supplier of goods imports in 2016.

  • U.S. goods imports from Nigeria totaled $4.2 billion in 2016, up 118.0% ($2.3 billion) from 2015, but down 85.0% from 2006.  

  • The top import categories (2-digit HS) in 2016 were: mineral fuels ($4.0 billion), special other (returns ) ($79 million), artificial flowers, feather or down articles ($7 million), fertilizers ($7 million), and food waste, animal feed ($7 million).

  • U.S. total imports of agricultural products from Nigeria totaled $28 million in 2016. Leading categories include: feeds & fodders ($7 million), spices ($6 million), cocoa beans ($5 million), tree nuts ($3 million), and tea, incl herb ($2 million).

  • U.S. imports of services to Nigeria were an estimated $411 million in 2016, 11.4% ($53 million) less than 2015.  Leading services imports from Nigeria to the U.S. were in the travel, transport, and professional and management services sectors. 

Trade Balance

  • The U.S. trade balance with Nigeria shifted from a goods trade surplus of $1.5 billion in 2015 to a goods trade deficit of $2.3 billion in 2016.

  • The United States has a services trade surplus of an estimated $2.1 billion with Nigeria in 2016, down 9.5% from 2015. 

Investment

  • U.S. foreign direct investment (FDI) in Nigeria (stock) was $3.8 billion in 2016, a 16.2% decrease from 2015.U.S. direct investment in Nigeria is led by mining, manufacturing, and prof., scientific, and tech. services.

  • Nigeria's FDI in the United States (stock) was $53 million in 2016, up 82.8% from 2015.There is no information on the distribution of NigeriaFDI in the U.S.

  • Sales of services in Nigeria by majority U.S.-owned affiliates were $1.2 billion in 2015 (latest data available), while sales of services in the United States by majority Nigeria-owned firms were $2 million.