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.


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