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2022
Exports $11.8kWorld Rnk 120 / 152
Flag Rnk 666 / 1077
2022
Destination $11k United States
2021 - 2022
FASTEST GROWING MARKET $11kUnited States
2022
PRODUCT COMPLEXITY IN Seed Oils-0.99Rnk 836 / 1025
2022
Imports $9.37MWorld Rnk 107 / 211
Flag Rnk 482 / 1182
2022
Origin $5.75M Benin
2021 - 2022
FASTEST GROWING ORIGIN $5.75MBenin
2022
ECONOMIC COMPLEXITY of Nigeria-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $11.8k in Seed Oils, making it the 120th largest exporter of Seed Oils in the world. At the same year, Seed Oils was the 666th most exported product in Nigeria. The main destination of Seed Oils exports from Nigeria are: United States ($11k), Canada ($351), South Africa ($178), Niger ($157), and Iceland ($105).

The fastest growing export markets for Seed Oils of Nigeria between 2021 and 2022 were United States ($11k), Canada ($351), and Iceland ($105).

Imports In 2022, Nigeria imported $9.37M in Seed Oils, becoming the 107th largest importer of Seed Oils in the world. At the same year, Seed Oils was the 482nd most imported product in Nigeria. Nigeria imports Seed Oils primarily from: Benin ($8.47M), Spain ($238k), Turkey ($201k), India ($187k), and Italy ($71.1k).

The fastest growing import markets in Seed Oils for Nigeria between 2021 and 2022 were Benin ($5.75M), Spain ($183k), and India ($177k).

Latest Trends

Oct 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 Seed Oils. 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 (2022)$11.8k
IMPORTS (2022)$9.37M
NET TRADE (2022)-$9.35M

In 2022, Nigeria exported $11.8k in Seed Oils. The main destinations of Nigeria exports on Seed Oils were United States ($11k), Canada ($351), South Africa ($178), Niger ($157), and Iceland ($105).

In 2022, Nigeria imported $9.37M in Seed Oils, mainly from Benin ($8.47M), Spain ($238k), Turkey ($201k), India ($187k), and Italy ($71.1k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Seed Oils EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
United States$11k (1%)
Canada$351 (1%)
Iceland$105 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Seed Oils BY Nigeria WERE (2021 - 2022):
Niger-$4.35k (-96.5%)
South Africa-$1.88k (-91.3%)
Ireland-$163 (-85.8%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Seed Oils were:
Ukraine $5.54B
Russia $3.01B
Turkey $1.88B
In 2022, Nigeria's main importing competitors in Seed Oils were:
India $2.88B
Turkey $1.84B
Netherlands $1.26B

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Trade Value of Seed Oils by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $23.6k
TOP IMPORT POTENTIALTurkey+ $461k

Seed Oils’s highest export potential is United States. With an export gap of $23.6k.   Seed Oils’s highest import potential is Turkey with an import gap of $461k.

See methodology.

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