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2023
Exports $1.69MWorld Rnk 16 / 108
Flag Rnk 153 / 1096
2023
Destination $1.68M China
2022 - 2023
FASTEST GROWING MARKET $1.68MChina
2023
PRODUCT COMPLEXITY IN Ground Nut Oil-2.11Rnk 1006 / 1025
2023
Imports $138kWorld Rnk 46 / 183
Flag Rnk 1023 / 1184
2023
Origin $116k India
2022 - 2023
FASTEST GROWING ORIGIN $116kIndia
2023
ECONOMIC COMPLEXITY of Nigeria-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $1.69M in Ground Nut Oil, making it the 16th largest exporter of Ground Nut Oil in the world. At the same year, Ground Nut Oil was the 153rd most exported product in Nigeria. The main destination of Ground Nut Oil exports from Nigeria are: China ($1.68M), Niger ($5.27k), United Kingdom ($2.96k), Canada ($2.06k), and Slovenia ($1.53k).

The fastest growing export markets for Ground Nut Oil of Nigeria between 2022 and 2023 were China ($1.68M), Niger ($5.23k), and United Kingdom ($2.96k).

Imports In 2023, Nigeria imported $138k in Ground Nut Oil, becoming the 46th largest importer of Ground Nut Oil in the world. At the same year, Ground Nut Oil was the 1023rd most imported product in Nigeria. Nigeria imports Ground Nut Oil primarily from: India ($118k), United States ($12.7k), Italy ($4.66k), United Arab Emirates ($2.59k), and Belgium ($12).

The fastest growing import markets in Ground Nut Oil for Nigeria between 2022 and 2023 were India ($116k), United States ($12.7k), and Italy ($767).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Ground Nut Oil. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.69M
IMPORTS (2023)$138k
NET TRADE (2023)$1.55M

In 2023, Nigeria exported $1.69M in Ground Nut Oil. The main destinations of Nigeria exports on Ground Nut Oil were China ($1.68M), Niger ($5.27k), United Kingdom ($2.96k), Canada ($2.06k), and Slovenia ($1.53k).

In 2023, Nigeria imported $138k in Ground Nut Oil, mainly from India ($118k), United States ($12.7k), Italy ($4.66k), United Arab Emirates ($2.59k), and Belgium ($12).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Ground Nut Oil EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
China$1.68M (1%)
Niger$5.23k (13.4k%)
United Kingdom$2.96k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Ground Nut Oil BY Nigeria WERE (2022 - 2023):
Benin-$1.65k (-84.5%)
Saudi Arabia-$343 (-100%)
South Africa-$90 (-31.8%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Ground Nut Oil were:
India $229M
Brazil $192M
Argentina $103M
In 2023, Nigeria's main importing competitors in Ground Nut Oil were:
China $446M
Italy $62.7M
United States $39.6M

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Trade Value of Ground Nut Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $1.57k
TOP IMPORT POTENTIALIndia+ $5.08k

Ground Nut Oil’s highest export potential is Canada. With an export gap of $1.57k.   Ground Nut Oil’s highest import potential is India with an import gap of $5.08k.

See methodology.

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