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China, US, India in the List of Nigeria’s Top 10 Export, Import Trade Partners in 2022
Economy

China, US, India in the List of Nigeria’s Top 10 Export, Import Trade Partners in 2022

by  Dave Ibemere 2 min read
  • A new report has revealed the list of countries exporting and importing from Nigeria
  • Crude oil remains Nigeria's main export and a vital source of revenue for the federal government of Nigeria.
  • India, China, and the US continue to be Nigeria's trading partners and spent over a trillion dollars on goods made in Nigeria.

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The National Bureau of Statistics (NBS) has revealed that Nigeria's total trade, including imports and exports, from July to September of 2022, stood at N11.59 trillion

This was lower than the N12.84 trillion trade value recorded between April and June 2022.

NBS stated this in its Foreign Trade Statistics for the Second Quarter of 2022, released on its website.

Nigeria export import trade
Snapshot of total trade from July to September Credit: NBS
Source: Facebook

Import and Export in 2022

According to the report, overall exports in the third quarter of 2022 were N5.93 trillion, with re-exports accounting for N25.04 billion.

Read also

Nigeria takes back number one spot as Africa's largest oil producer, jumps in world ranking

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However when compared to the N7.40 trillion value of exports in Q2, 2022 this means Nigeria sold less by 9.89% in Q3, 2022.

In terms of Imports (CIF), a total of N5.66 trillion goods were imported into the country in the third quarter of 2022.

The import value in Q3 was an increase of 4.22% when compared with the value recorded in Q2, 2022 N5.43 trillion.

Here are the top 10 countries Nigerians exported to

  1. Spain N873.62bn
  2. India N619.22bn
  3. France N430.40bn
  4. Netherlands N420.40bn
  5. Indonesia N415.16bn
  6. United States N335.94bn
  7. South Africa N286.75bn
  8. Ivory Coast N268.12bn
  9. Portugal N234.50bn
  10. Italy N212.83bn

Here are the top 10 countries Nigerians imported from

  1. China N1.52 trillion
  2. Netherlands N565.89bn
  3. India N450.213,190,031.00
  4. Belgium N422.33bn
  5. United States N365.94bn
  6. Korea, South N184.64bn
  7. United Arab Emirates N173.96bn
  8. United Kingdom N165.04bn
  9. Germany N153.57bn
  10. Norway N111.91bn

Read also

First Bank, GTB, three Other leading Nigerian Banks pocket over N207 billion in one month

NCC reveals list of mobile phones Nigerians must not buy or use

In another report, Legit.ng has revealed that the Nigerian Communications Commission (NCC) released a list of unapproved phones that Nigerians are not permitted to purchase or use.

The commission also advised against using the mentioned gadgets and warned against counterfeits.

Most of the phones listed are available in the market and can be purchased for as little as N2,000.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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