Do you know that Nigeria is the Blot export economy in the world? In 2016, Nigeria exported $36.9 Billion and imported $35.1 Billion resulting in a positive trade balance of $1.81 Billion. The GDP of Nigeria was $404 Billion and its GDP per capitals was $5.86.
Hence, exports from Nigeria to other countries of the world is very lucrative and can build the country’s economy over night. Here are top 10 export items from Nigeria that can fetch you dollars. They are:
- Rubber – Nigeria is significant producer of rubber in Africa. A cubic meter of fine quality rubber goes for about $600.
- Sesame seed – Nigeria is the 5th largest producer of the sesame seed in the world. They can be found in large quantity in places like Benue and Jigawa States in Nigeria. This commodity ranks second to cocoa in term of export volume and foreign exchange earnings.
- Garlic – This crop is grown under irrigation by farmers in the Saranna areas in Nigeria. You are sure of foreign hard currencies with internationally certified good quantities of garlic.
- Yam Turbers – Presently, Nigeria is the highest producers of yam. Yam export accounted for about $450 million exchange in 2009 alone. The demand for export potentials of this product is not yet fully maximized.
- Cassava Flour – The demand for well processed cassava flour is increasing both in Europe, Middle East and in America.
- Cashew Nut – This is another, international commodity that is in increasing demand in great quantity.
- Charcoal – A large market for charcoal exists in Asia, Eu and USA. A tone of charcoal goes for about $1000.
- Honey – Pure honey is another export commodity from Nigeria that can fetch good dollars in the international market. A kilogram of honey costs about $150 in the international markets presently.
- Cocoa butter – Cocoa provides raw materials for chocolates of all kinds, skin care products, pharmaceutical companies etc and as such is needed in high quantity in the international market.