Spain Record imports from Nigeria worth N870bn dollars in 2022

Spain Record imports from Nigeria worth N870bn dollars in 2022
 Spain has emerged as the top trading partner of Spain in 2022. Other significant export partners of Nigeria were India and France.  As per the latest Nigeria import export data reports 2022, Spain's total imports from Nigeria were around N870bn dollars. In terms of export value, Mineral Fuels, Oils (9 billion USD), Leather (35 million USD), Rubbers (20 million USD), Plastics (18 million USD), Cocoa (12 million USD), Lead (7 million USD), Fish (7 million USD), Artificial fibres (4 million USD), Antiques (4.2 million USD) and Aluminium (3.5 million USD) were the top Nigerian exports to spain in 2022.

According to the Nigeria import data, Spain's exports to Nigeria were estimated at 401 million US Dollars in 2022. The major products imported by Spain were Ceramics articles (34 million USD), Beverages (26 million USD), Machinery (25 million USD), Mineral Fuels, Oils (20 million USD), Inorganic Chemicals (15 million USD), Essential Oils (15 million USD), Plastics (14 million USD), Salt, Sulphur (13 million USD), Aircraft (13 million US Dollars) and Electrical Equipment (11 million US Dollars).


India-Nigeria Trade Analysis

The trade between India and Nigeria was recorded to be 9.86 billion US Dollars in 2022. Nigeria’s total imports were around 4.6 billion US Dollars. Pharma products, automobiles, engineering instruments, electronics, rice and machinery were the major Nigerian imports from India in 2022. On the other hand, there were around 5.2 million US Dollars exports done by Nigeria. Our Nigeria export data suggests Mineral fuels, oils, edible fruits, nuts, skin leather, coffee, tea, oil seeds, lead, food waste, residues, plastics and rubbers were the most exported products by Nigeria to India in 2022.


France-Nigeria Trade Analysis

In 2022, France and Nigeria traded goods worth 4 billion US Dollars. According to the Nigeria customs data, Nigeria exports to France were around 3 billion US Dollars. Mineral Fuels, Oils, Rubbers, Cocoa, Fish, Oil Seeds, Coffee, Tea, and Pharmaceuticals were the major imports done by France from Nigeria. Whereas, Nigeria imports from France were totaled to be 1 million US Dollars. Some of the major exports of France to Nigeria were pharma products, mechanical instruments, metals and their products, 

Nigeria Import Export Market Analysis


Our Nigeria trade data suggests that Nigeria’s total crude oil exports were 11 trillion Nigerian dollars whereas non-oil exports accounted for around 3.45 billion US Dollars in 2022. There was around 38% increase in exports from Nigeria as compared to 2022. In the financial year 2021, Nigerian exports were estimated to be 46 billion US Dollars. Crude oil, Natural gas, Urea, Petroleum gases, and Floating Structures were major NIgerian exports products.


Whereas, Refined petroleum, vehicles, fertilizers, floating structures, cocoa and oil seeds were the most imported products by Nigeria in 2022. Nigeria’s total imports are worth around 5.9 trillion Nigerian Dollars. As per Nigeria import and exports by country records, China, Netherlands, India, Belgium, and the United States were the most important trading partners of Nigeria.


Perform a detailed market research on Nigeria with Exim GTIS


Exim Global Trade Intelligence System adds great assists for the import and export businesses. Whether you are looking to start an import-export business or enhance your market sales, Exim GTIS is the best tool available right now.


You can analyze import export data reports of 200+ countries and find growth opportunities at the global level. You can discover genuine leads while residing in Nigeria and enhance your production & ROI. Based on Nigeria’s latest trends, demand, risk and competitor reports, you can make profitable business decisions and outrank your competition like a pro.

Comments

Post a Comment

Popular posts from this blog

Germany, "The leading cheese importer in the world"

Image
  Germany is the world's biggest cheese exporter. Although, during last year, Germany's cheese exports declined by 7% to 36 million pounds. According to Germany import export data reports, Germany's cheese exports were recorded to be $6 billion during the financial year 2023. Italy was the top destination for Germany's cheese exports in 2023 accounting for over $1 billion worth.  Along with Italy, Netherlands and France were other major importers of cheese from Germany for over $750 million and $480 million worth of cheese imports. Among the fastest growing markets for Germany's cheese exports were Austria, Spain, Belgium, Romania, Greece and Poland responsible for significant growth in cheese imports. Gebruder Woerle Ges, Uhrenholt, and Bayernlan were the top cheese export companies from Germany with maximum number of shipments last year. Caseificio Ghidetti from Italy, Lactima from Poland, Quillayes from Chile, and Kosmonte foods from Kosovo were the top cheese i
Read more

Turkey's wire rod exports fell by 55% in 2023

Image
  Turkey is a prominent steel industry. It is the 8th largest importer of steel globally. Whereas, it is ranked 4th leading steel exporter in the world. Steel industry covers over 8.3% share in Turkey’s overall exports.   As per Turkey customs data reports, the country’s overall steel exports were estimated to be around $19.6 billion during 2022. However, it fell by 17% as compared to $23 billion in 2021. The European Union holds the maximum share in Turkey’s steel exports.   In 2022, the EU imported around 5.9 million tonnes of steel from Turkey with over 25% share. After European countries, Turkey exports the majority of its steel to North Africa and Latin American nations. Whereas per Turkey import data , the country’s steel saw a minimal increase of 1.5% as compared to last year. During 2022, Turkey steel imports stood around $18 billion while it was $17 billion in 2021. Turkey's major steel exports commodities includes rebar, angels, sect profiles, wire rod, alloy bars, wires
Read more

India's yarn exports fell by 15% in 2023

Image
  India is a prominent yarn exporter in the global market. India is the second largest yarn exporter in the world after China. According to the India import export data reports, India was responsible for over $7.3 billion worth of yarn exports against the $15 billion exports from China. Bangladesh is the leading importer of Indian yarn followed by Vietnam and Peru.  India’s yarn exports include various commodities like cotton, silk, RMG, apparel accessories. In terms of cotton exports, India has always been an important market. It was a top exporter destination for many years. But during the fiscal year 2022, India has become the 5th biggest cotton exporting country in the world.  As per India export data , India was responsible for over 250 MT of cotton exports in 2022. There was a massive decline in the country's cotton exports. As, the exports are falling to 30% on a yearly basis. During the first six months of 2023, the country's exports were estimated to be $1.3 billion w
Read more