USA-Nigeria Bilateral Trade Analysis 2023
Complete trade statistics: $8.90B total volume •USA deficit: $3.38B
USA → Nigeria
$2.76B
Exports (2023)
Nigeria → USA
$6.14B
Imports (2023)
Trade Balance
$3.38B
Deficit for USA
Total Trade
$8.90B
Combined Volume
Trade Flow Visualization
Direct trade relationship between USA and Nigeria. Green line shows exports from USA, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the USA-Nigeria commercial relationship and competitive positioning in global markets.
USA → Nigeria Exports
Export Market Intelligence
🎯 Strategic Export Focus
USA's export portfolio to Nigeria demonstrates strong diversification across multiple sectors, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
Nigeria → USA Imports
Import Dependency Profile
📦 Import Strategy Analysis
USA's import pattern from Nigeria reveals significant dependencyin oils: petroleum oils and oils obtained from bituminous minerals, crude, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
USA demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to Nigeria, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $8.90B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: USA-Nigeria Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $8.90 billionrepresenting a significant bilateral economic relationship
- Trade Balance: USA maintains a deficit of $3.38 billion
- Export Focus: USA's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 3000cc, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc
- Import Dependencies: Key imports from Nigeria include oils: petroleum oils and oils obtained from bituminous minerals, crude, petroleum gases and other gaseous hydrocarbons: liquefied, natural gas, petroleum gases and other gaseous hydrocarbons: in gaseous state, other than natural gas
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $8.90B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with USA leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
USA's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements Nigeria's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in oils: petroleum oils and oils obtained from bituminous minerals, crude.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $8.90B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $8.90B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $8.90 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and oils: petroleum oils and oils obtained from bituminous minerals, crude demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
USA's trade deficit of $3.38 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between USA and Nigeria represents a total trade volume of $8.90 billion in 2023. This partnership demonstrates an unfavorable trade balance for USA, with imports exceeding exportsby $3.38 billion.
Export Strengths
USA's exports to Nigeria total $2.76 billion, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $352.75M or12.8% of bilateral exports.
Import Dependencies
Imports from Nigeria amount to $6.14 billion, highlighting economic interdependence in oils: petroleum oils and oils obtained from bituminous minerals, crude, with Oils: petroleum oils and oils obtained from bituminous minerals, crude comprising75.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates USA's strategic sourcing from Nigeria. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between USA and Nigeria in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023