Bilateral trade between the United States and Nigeria showed signs of rebalancing in May 2025, with new data indicating a rise in U.S. exports and a decline in imports from Nigeria, resulting in a trade surplus for Washington.
Figures released by the Observatory of Economic Complexity (OEC) reveal that U.S. exports to Nigeria reached $515 million in May 2025, representing a 12.3 per cent increase compared to $459 million in May 2024. Meanwhile, imports from Nigeria to the United States fell by 17 per cent year-on-year, dropping from $482 million to $400 million.
The change created a trade surplus of $115 million in favour of the United States, marking a shift in the pattern of trade between the two countries, which have historically maintained a largely energy-focused exchange.
Crude petroleum was the largest U.S. export to Nigeria during the month, valued at \$244 million. Other significant exports included cars at $73.3 million and refined petroleum at $22.5 million. The year-on-year growth in exports was largely driven by increases in crude petroleum (up 40.4 per cent), wheat (which doubled to $22.4 million), and automobiles (up 40.7 per cent).
On the Nigerian side, crude petroleum remained the primary export to the United States, accounting for $311 million. This was followed by refined petroleum at $41.4 million and cocoa beans at $24.4 million. The overall decline in Nigeria’s exports was attributed to the cessation of nitrogenous fertiliser and petroleum gas shipments, along with a significant reduction in refined petroleum exports, which fell by 72.7 per cent.
Despite the monthly decline in imports from Nigeria, the trade relationship between the two countries remains active. In 2023, Nigeria was the United States’ top African export partner, with total exports valued at $6.29 billion. Crude petroleum accounted for $4.73 billion of that figure. The U.S., in turn, exported goods worth $3 billion to Nigeria during the same year, making Nigeria its 57th largest export destination.
Vehicle exports, particularly cars, led U.S. shipments to Nigeria in 2023, valued at $1.04 billion, further underlining Nigeria’s role as a key destination for American automotive products.
The data also reflects underlying differences in the economic structures of the two countries. The United States, with a 2023 GDP per capita of $82,800 and ranked 10th globally in economic complexity, maintains a highly diversified industrial base. Nigeria, in contrast, had a GDP per capita of $1,600 and ranked 129th out of 132 countries on the complexity index.
Over the past five years, bilateral trade between Nigeria and the United States has grown at an average annual rate of 19 per cent, supported by sustained energy trade, rising demand for vehicles, and broader commercial engagement.