Wheat accounted for 46.43% of the United States’ agricultural exports to Nigeria in 2024

Key Takeaways:

  • The United States exported $318.7 million worth of agricultural products to Nigeria in 2024.
  • Wheat accounted for nearly half of the US' agricultural exports to Nigeria, valued at $148 million.
  • The trade balance substantially favours the United States, with exports to Nigeria ($318.7 million) nearly double imports ($114.7 million).
  • The top three products account for 74.49% of all agricultural exports to Nigeria.

In 2024, the US exported $318.7 million in agricultural products to Nigeria.  Wheat emerged as the top export at $147.97 million, and accounted for nearly half (46.43%) of all exports.

Processed food preparations and non-beverage ethanol followed at 14.3% and 13.7%, respectively.  Soybeans and seafood products were also substantial exports, totalling more than $46 million.

Source:

United States Department of Agriculture

Period:

2024
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  • Nigeria recorded a 12.1% decline in exports to the US, falling to $2.8 billion.
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  • Nigeria swung into a $576 million surplus, reversing last year’s deficit.
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  • Nigeria swung into a $576 million surplus, reversing last year’s deficit.
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46 African countries get more than 60% of their export earnings from raw goods, with South Sudan leading with 99.5%
  • More than 60% of the countries in Africa are commodity-dependent.
  • South Sudan leads the list with 99.5%.
  • Nigeria’s commodity export dependence is 96.3%, dominated by energy (89.7%), followed by agriculture (4.0%) and mining (2.6%).
  • Africa alone accounts for nearly 47% of all commodity dependent countries globally.

Only 8 African countries get less than 60% of their export earnings from raw goods, with Tunisia leading at 21.5%
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  • Algeria, Morocco, Eswatini, Lesotho, Djibouti, Mauritius, Comoros, and Egypt stand out with less than 60%.
  • Algeria and Morocco are the least dependent, pointing to stronger industrial and trade sectors.
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Ghana’s exports
  • Gold bullion dominates exports, contributing ¢163.0B (55.3%) of total exports.

  • Petroleum oils follow distantly at ¢52.6B (17.8%).

  • Cocoa (beans, paste, butter) remains a vital sector, collectively worth ¢24.7B (8.4%).

  • Manganese, cashew, tuna, iron/steel, and shea oil are niche contributors, each under 2% of exports.

  • All other products still make up a significant 14.4% (¢42.4B), showing potential for export diversification.

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