The following export product groups represent the highest dollar value in Nigerian global shipments during 2017. Also shown is the percentage share each export category represents in terms of overall exports from Nigeria.
At the more detailed four-digit Harmonized Tariff System code level, Nigeria’s most valuable exported product is mainly crude oil and, to a lesser extent, petroleum gases, cocoa beans, high-temperature distilled coal tar oils, refined petroleum oils then nitrogenous fertilizers.
Mineral fuels including oil: US$39.1 billion (96% of total exports)
Ships, boats: $253.5 million (0.6%)
Cocoa: $238.1 million (0.6%)
Oil seeds: $180.9 million (0.4%)
Fertilizers: $149.8 million (0.4%)
Tobacco, manufactured substitutes: $102.4 million (0.3%)
Plastics, plastic articles: $78.1 million (0.2%)
Fruits, nuts: $76.1 million (0.2%)
Raw hides, skins not furskins, leather: $67.9 million (0.2%)
Rubber, rubber articles: $55.4 million (0.1%)
Nigeria’s top 10 exports are highly concentrated accounting for 99% of the overall value of the country’s global shipments.
Among the top 10 Nigerian exports above, the fertilizers category showed the greatest increase from 2016 to 2017 via a 140.9% uptick.
Exported fruits and nuts gained 133.6%. Plastics and articles made from plastics exported from Nigeria appreciated by 100.8% followed by Nigeria’s exported oil seeds up by 48.7%.
Three export categories didn’t fare as well. Nigeria’s sales of exported tobacco and manufactured substitutes fell by -13% year over year. Cocoa exports declined in value by -21.4% while Nigerian shipments of ships and boats slid by -86.3% from 2016 to 2017.
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