Nigeria is not only a strategic partner in the continent for South Africa, Nigeria has also emerged as a priority country for South Africa as its represents over two thirds market share for South African exports and investments in West –Africa sub-region.
Since 1994 Nigeria’s trade with South Africa has grown healthy, to the extent that Nigeria is South Africa 7th largest African export market and Nigeria is one of South Africa’s primary crude oil suppliers
The composition of the trade between the SA and Nigeria has steadily improved since 1994 with Nigeria almost exclusively exporting petroleum and South Africa, for its part, exporting mainly base metals, vehicles and machinery as well as processed foodstuffs
Nigeria exports to South Africa were $1.98 billion while South African exports to Nigeria were $385.11million in 2017 showing a trade balance surplus in Nigeria favour. Although Nigeria has a vast trade surplus with South Africa, this is the result of South Africa’s purchase of Nigerian crude.
South Africa’s top 5 exports products to Nigeria are
- Plastics
- Edible fruits
- Machinery
- Paper pulp
- Chemicals
South Africa’s top 5 imports from Nigeria are
- Mineral fuels ,oils ,distillation products
- Rubber
- Oil seeds
- Lead
- Bird skin, artificial flowers, human hair
