Indonesia's Animal Fat and Oil Exports to Nigeria Surge to US$160.82 Million
- A Small Font
- A Medium Font
- A Bigger Font
Indonesia recorded exports to Nigeria of US$498.3 million as of December 2023. This figure represents an 8.38% increase compared to the previous year's exports, which totaled US$459.79 million.
Indonesia's trade record with Nigeria shows a significant decrease in exports over the past 10 years. The lowest export value was US$310.82 million, while the highest reached US$648.62 million.
Of the 97 products (two-digit HS codes) exported to Nigeria, 38 products were worth more than one billion dollars. Furthermore, according to Trademap data, 61 main Indonesian products are exported to Nigeria annually. In other words, these products are the mainstay of Indonesian exports to Nigeria. The remaining products are largely exported to other countries as well.
The following is a list of the top five products exported by Indonesia to Nigeria, ordered from highest to lowest transaction value:
1. Animal, vegetable, or microbial fats and oils and their cleavage products
Falling under HS code 15, Animal, vegetable, or microbial fats and oils and their cleavage products are grouped with Prepared edible fats. Exports of this product to Nigeria rank first, with Indonesia exporting US$160.82 million. This export value increased compared to the previous period, which recorded US$137.1 million.
2. Paper and Paperboard
Falling under HS code 48, Paper and Paperboard are grouped with Articles of pulp, paper or paperboard. Indonesia exported US$88.02 million.
3. Pharmaceutical Products
Thirdly, Indonesia also exported US$51.96 million worth of Pharmaceutical Products to Nigeria. The export value of this product increased compared to the previous period, which recorded US$47,971 thousand. Indonesia is recorded as exporting this product to one country. Exports of Pharmaceutical Products to Nigeria are recorded as the largest. Five other countries that are sources of Pharmaceutical Product exports are the United States, Germany, Belgium, Switzerland, and China.
4. Prepared foodstuffs
For other products, Indonesia also exported US$46.17 million worth of Prepared foodstuffs to Nigeria. The export value of this product is lower than the previous period, which reached US$46,850 thousand. Besides Nigeria, Indonesia also relies on exports of Prepared foodstuffs to the United States, China, Germany, the United Kingdom, and France. In addition to these main countries, Indonesia is recorded as exporting this product to 4 other countries.
5. Electrical machinery and equipment and parts
Falling under HS code 85, Electrical machinery and equipment and parts are grouped with Sound recorders and reproducers, television. Indonesia exported US$19.07 million. Besides Nigeria, Indonesia also relies on exports of Electrical machinery and equipment and parts to China, the United States, Hong Kong, China, Germany, and Singapore. In addition to these main countries, Indonesia is recorded as exporting this product to 4 other countries.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
Related Data
Latest Data Stories
Trending Topics
Popular Data