Refined Petroleum in Nigeria

EXPORTS (2018): $940M, World Rnk 63 / 198
Flag Rnk 3 / 849

TOP DESTINATION (2018): $357M, United States

FASTEST GROWING MARKET (2017 - 2018): $178M, France

IMPORTS (2018): $9.95B, World Rnk 22 / 221
Flag Rnk 1 / 1174

TOP ORIGIN (2018): $3.84B, Netherlands

FASTEST GROWING ORIGIN (2017 - 2018): $1.75B, Netherlands

ECONOMIC COMPLEXITY of Nigeria (2018): -1.75, Rnk 134 / 137

Overview: This page contains the latest trade data of Refined Petroleum in Nigeria.

Exports: In 2018, Nigeria exported $940M in Refined Petroleum, making it the 63rd largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most exported product in Nigeria. The main destination of Refined Petroleum exports from Nigeria are: United States ($357M), France ($196M), Belgium-Luxembourg ($118M), Netherlands ($113M), and Togo ($95.6M).

The fastest growing export markets for Refined Petroleum of Nigeria between 2017 and 2018 were France ($178M), Togo ($93.2M), and Belgium-Luxembourg ($80.1M).

Imports: In 2018, Nigeria imported $9.95B in Refined Petroleum, becoming the 22nd largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Nigeria. Nigeria imports Refined Petroleum primarily from: Netherlands ($3.84B), Belgium-Luxembourg ($2.7B), United Kingdom ($787M), Norway ($643M), and South Korea ($361M).

The fastest growing import markets in Refined Petroleum for Nigeria between 2017 and 2018 were Netherlands ($1.75B), Norway ($492M), and United Kingdom ($423M).

Tariffs: In 2016, the average tariff for Nigeria in Refined Petroleum was 7.4%. The countries with the highest import tariffs for Refined Petroleum were Angola (7.83%), Burundi (7.83%), Botswana (7.83%), Central African Republic (7.83%), and Cameroon (7.83%).

Value

EXPORTS (2018): $940M

IMPORTS (2018): $9.95B

NET TRADE (2018): -$9.01B

In 2018, Nigeria exported $940M in Refined Petroleum. The main destinations of Nigeria exports on Refined Petroleum were United States ($357M), France ($196M), Belgium-Luxembourg ($118M), Netherlands ($113M), and Togo ($95.6M).

In 2018, Nigeria imported $9.95B in Refined Petroleum, mainly from Netherlands ($3.84B), Belgium-Luxembourg ($2.7B), United Kingdom ($787M), Norway ($643M), and South Korea ($361M).

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IN 2018, Nigeria HAD A POSITIVE NET TRADE IN Refined Petroleum WITH:

  • Togo, $67.4M ($95.6M - $28.2M)
  • United States, $49.4M ($357M - $308M)
  • Malta, $17M ($17M - $0)

IN 2018, Nigeria HAD A NEGATIVE NET TRADE IN Refined Petroleum WITH:

  • Netherlands, -$3.73B ($113M - $3.84B)
  • Belgium-Luxembourg, -$2.59B ($118M - $2.7B)
  • United Kingdom, -$787M ($0 - $787M)
Flow

THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Nigeria WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Nigeria WERE (2017 - 2018):

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Market Concentration

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Flow
Type

In 2018, Nigeria's main exporting competitors in Refined Petroleum were:

In 2018, Nigeria's main importing competitors in Refined Petroleum were:

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Refined Petroleum in Nigeria. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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Tariffs by Country

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In 2016, the average tariff for Nigeria in Refined Petroleum was 7.4%.

The countries with the highest tariffs for Refined Petroleum in Nigeria were Angola (7.83%), Burundi (7.83%), Botswana (7.83%), Central African Republic (7.83%), and Cameroon (7.83%).

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