China's Imports from Nigeria

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Key Takeaways:

From 2014 to 2023, China’s imports from Nigeria fluctuated significantly, ranging between $907 million and over $3 billion.
A sharp 53% drop was recorded between 2014 and 2015, followed by a further decline to a decade-low in 2016.
China reached its highest import value in 2021, when it imported over $3 billion from Nigeria.
Imports fell by 47% in 2022 but recovered by 48% in 2023, reaching $2.37 billion.
The volatility in trade reflects the influence of global commodity prices, especially oil, and evolving bilateral trade dynamics.
Mineral fuels, oils, and distillation products accounted for more than 50% of China's imports from Nigeria during the period of study.

Key Takeaways:

In 2023, China imported $1.41 billion worth of mineral fuels and oils from Nigeria, making it the leading import category.
The top three import categories (mineral fuels, ores, and salt/earth materials) together made up nearly 89% of the total import value.
Nigeria’s exports to China are largely raw materials and natural resources, with minimal contribution from manufactured goods.
The top ten product categories accounted for almost 99% of China’s total imports from Nigeria.
Agricultural and animal products such as oil seeds, raw hides, and spices also formed part of Nigeria’s export portfolio.
China’s total imports from Nigeria were valued at $2.37 billion in 2023.

Key Takeaways:

In 2023, China’s exports to Nigeria totaled $20.18 billion, while imports from Nigeria reached only $2.37 billion.
China’s trade surplus with Nigeria amounted to approximately $17.8 billion.
Chinese exports accounted for 89.5% of the total bilateral trade, with Nigerian exports making up just 10.5%.
The trade imbalance underscores Nigeria’s strong dependence on Chinese goods and industrial inputs.
For every $1 Nigeria exports to China, it imports $8.50 worth of Chinese products.