Trade Data Analysis

South Africa’s trade with Nigeria

South Africa’s trade with Nigeria

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This Trade Update provides a snapshot of South Africa’s trading relationship with Nigeria. The aim is to give an idea of South Africa’s trade relations with Nigeria, and the major products or sectors that South Africa is trading in.

All data is sourced from the United Nations (UN) International trade Centre (ITC) TradeMap database. The data analysed in this report is over a 10-year review period from 2007-2016, thus the review period referred in this paper will imply the period between 2007 and 2016.

Bilateral Trade Agreements

The relative importance of Nigeria in terms of trade on the continent cannot be overemphasised, as the large market of Nigeria (population of 190 million), provides trade and investment opportunities for countries such as South Africa, which is aiming to expand its footprint into the continent beyond Southern Africa. Therefore, closer cooperation on bilateral and regional issues is key.

Trade Performance

South Africa has over the review period 2007-2016 maintained a trade deficit with Nigeria, mainly attributed to the large imports of crude oil, which have consistently accounted for 99% of South Africa’s imports from Nigeria.

Exports however, despite being low are relatively diverse. In 2016, South Africa exported goods worth just above US$ 438 million compared to over US$2 billion in imports from Nigeria.

From a global perspective, Nigeria is ranked 32nd amongst South Africa’s export destinations accounting for less than 1% of South Africa’s total exports. In terms of imports, Nigeria, is ranked 10th import supplier to the South African market. However, when considering the African market, the Nigeria is ranked 12th export destination for South Africa’s goods and is ranked 1st most important import source from Africa.

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South Africa’s trade with Nigeria | Bilateral trade update No. 2, October 2017 - Author(s): Taku Fundira
South Africa’s trade with Nigeria: Trade data spreadsheet | October 2017 - Author(s): Taku Fundira

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