2023
Exports
$5.74kWorld Rnk 125 / 150
Flag Rnk 772 / 1096
2023
PRODUCT COMPLEXITY IN Seed Oils
-0.97Rnk 825 / 1025
2023
Imports
$7.89MWorld Rnk 106 / 216
Flag Rnk 497 / 1184
2023
ECONOMIC COMPLEXITY of Nigeria
-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $5.74k in Seed Oils, making it the 125th largest exporter of Seed Oils in the world. At the same year, Seed Oils was the 772nd most exported product in Nigeria. The main destination of Seed Oils exports from Nigeria are: United Arab Emirates ($3.46k), Ghana ($1.64k), South Africa ($484), and Niger ($152).

The fastest growing export markets for Seed Oils of Nigeria between 2022 and 2023 were United Arab Emirates ($3.46k), Ghana ($1.62k), and South Africa ($306).

Imports In 2023, Nigeria imported $7.89M in Seed Oils, becoming the 106th largest importer of Seed Oils in the world. At the same year, Seed Oils was the 497th most imported product in Nigeria. Nigeria imports Seed Oils primarily from: Benin ($5.22M), Turkey ($637k), India ($600k), Spain ($386k), and China ($370k).

The fastest growing import markets in Seed Oils for Nigeria between 2022 and 2023 were Turkey ($435k), India ($413k), and China ($297k).

Latest Trends

Jan 2025

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 (2023)$5.74k
IMPORTS (2023)$7.89M
NET TRADE (2023)-$7.88M

In 2023, Nigeria exported $5.74k in Seed Oils. The main destinations of Nigeria exports on Seed Oils were United Arab Emirates ($3.46k), Ghana ($1.64k), South Africa ($484), and Niger ($152).

In 2023, Nigeria imported $7.89M in Seed Oils, mainly from Benin ($5.22M), Turkey ($637k), India ($600k), Spain ($386k), and China ($370k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Seed Oils EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
Ghana$1.62k (5.77k%)
South Africa$306 (172%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Seed Oils BY Nigeria WERE (2022 - 2023):
United States-$11k (-100%)
Canada-$390 (-100%)
Iceland-$116 (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Seed Oils were:
Ukraine $5.26B
Russia $3.51B
Turkey $1.38B
In 2023, Nigeria's main importing competitors in Seed Oils were:
India $2.43B
China $1.62B
Turkey $1.47B

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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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