Indonesia Imports US$4.2 Million Worth of Mineral Fuel from Nigeria

Indonesia recorded imports from Nigeria totaling US$4.32 billion as of December 2022. This figure represents a 111.06% increase compared to the previous year's imports, which were recorded at US$2.05 billion.

Indonesia's trade record with Nigeria shows an upward trend in imports over the past 10 years. 2022 marked a historic high with the highest import value ever recorded.

Of the 97 products (two-digit HS codes) imported from Nigeria, 39 products were valued at over one billion dollars. Most of the imported products from Nigeria are also imported from other countries, totaling 23 products.

The following is a list of the top five products imported by Indonesia from Nigeria, ordered from highest to lowest transaction value.

1. Mineral fuels, mineral oils and products of their distillation

Indonesia imported a significant amount of Mineral fuels, mineral oils and products of their distillation. In the tradmap classification, Mineral fuels, mineral oils and products of their distillation fall under HS code 27. This product category is grouped together with bituminous substances and mineral waxes.

In 2022, Indonesia imported US$4.2 billion worth of these products. This represents an increase compared to the previous period, which recorded US$1.97 billion.

2. Cocoa and cocoa preparations

Indonesia's second largest import from Nigeria was Cocoa and cocoa preparations. Imports in 2022 totaled US$105,810 thousand. This figure is up from the previous period's US$69,649 thousand.

3. Aluminum and articles thereof

This product is sourced from 70 countries. Imports of Aluminum and articles thereof from Nigeria ranked 19th. In 2022, Indonesia imported US$14,356 thousand worth of these products. Besides Nigeria, the largest imports of Aluminum and articles thereof came from Mali, China, the United Arab Emirates, Malaysia, and the United States.

4. Ores, slag and ash

Imports of Ores, slag and ash from Nigeria ranked 21st. In 2022, Indonesia imported US$1,173 thousand. Besides Nigeria, the largest imports of Ores, slag and ash came from Brazil, South Africa, India, Canada, and China.

5. Oil seeds and oleaginous fruits

Indonesia imported this product from 65 countries. Imports of Oil seeds and oleaginous fruits from Nigeria ranked 30th. In 2022, Indonesia imported US$306 thousand. The other five largest sources of Oil seeds and oleaginous fruits were the United States, India, Canada, China, and Mali.