Indonesia was the largest exporter of animal fats and oils to Nigeria in 2023.
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Indonesia recorded exports to Nigeria worth 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 decline 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 Indonesia's main export commodities to Nigeria. The remaining products are largely also exported to other countries.
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 fractions.
Indonesia's largest export to Nigeria is animal, vegetable, or microbial fats and oils and their fractions. In the Trademap classification, this falls under HS code 15. This export category is grouped together with prepared edible fats. In 2023, Indonesia exported US$160.82 million worth of these products. This represents an increase compared to the previous period, which recorded US$137.1 million.
2. Paper and Paperboard
The second largest export to Nigeria is paper and paperboard. The export value in 2023 was US$88.02 million, an increase compared to the previous period's US$64,926,000.
3. Pharmaceutical Products
Nigeria is the largest export destination for Indonesian pharmaceutical products. In 2023, Indonesia exported US$51.96 million worth of these products. Other top five export destinations include the United States, Germany, Belgium, Switzerland, and China.
4. Prepared Edible Products
Nigeria is the largest export destination for Indonesian prepared edible products. In 2023, Indonesia exported US$46.17 million worth of these products. Other top five export destinations include the United States, China, Germany, the United Kingdom, and France.
5. Electrical machinery, equipment, and parts
Indonesia's fifth largest export to Nigeria is electrical machinery, equipment, and parts, with a value of US$19.07 million. This is lower than the previous period's US$21,734,000. Trademap data shows that Indonesia exports electrical machinery, equipment, and parts to four countries, with Nigeria being the largest recipient. Other top five export destinations include China, the United States, Hong Kong, China, Germany, and Singapore.
"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."
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