Import of goods to Nigeria 2020

In 2020, goods valued at a total of 55.4 billion U.S. dollars were imported into Nigeria. Imports generally grew from 2000 until their peak in 2014, although there was a sharp drop in 2009 due to the Great Recession. Over the past decade, Nigerian import values have fluctuated as the government has attempted to capitalize on its rapid economic growth and clear international debts, as well as dealing with the economic impact of fluctuating oil prices and the covid pandemic. Over the given period, Nigeria has been a net exporter of goods, although it was a net importer in select years, including 2020, where exports totaled at just 36 billion U.S. dollars.