That dollar amount reflects a -49.9% decline from $889.7 million in 2018 and a -29.5% year-over-year drop compared to $633 million during 2021.
Based on the average exchange rate for 2022, Niger uses the West African CFA franc depreciated by -12.3% against the US dollar since 2018 and diluted by -12.5% from 2021 to 2022. Niger’s weaker local currency makes its exports paid for in stronger US dollars relatively less expensive for international buyers.
The 3 biggest exported products from Niger are uranium or thorium ores, processed petroleum oils and unwrought gold. Combined, that trio of leading exported goods represent almost four-fifths (78.5%) of Niger’s overall export revenues. Such a high percentage indicates a concentrated set of exported goods.
Niger’s Major Trading Partners
The latest available country-specific data shows that 98.5% of products exported from Niger were bought by importers in: France (36.5% of Niger’s total), Mali (17.8%), Nigeria (15.2%), United Arab Emirates (8.5%), South Africa (6.6%), Burkina Faso (3.64%), Benin (3.62%), Ghana (2.8%), Chad (1.8%), United States of America (0.9%), Germany (0.7%) and Ivory Coast (0.5%).
From a continental perspective, 52.8% of Niger’s exports by value was delivered to fellow African countries while 37.6% was sold to importers in Europe. Niger shipped another 8.7% worth of goods to buyers in Asia.
A smaller percentage went to customers in North America (1%).
Given Niger’s population of 26.1 million people, its total $446.1 million in 2022 exports translates to roughly $17 for every resident in the northwest African country. That dollar metric falls below the average $25 per capita one year earlier during 2021.
Niger’s Top 10 Exports
The following export product groups represent the highest dollar value in Nigerien global shipments during 2022, based at the 2-digit Harmonized Tariff System (HTS) code level. Also shown is the percentage share each export category represents in terms of overall exports from Niger.
- Ores, slag, ash: US$157 million (35.2% of total exports)
- Mineral fuels including oil: $122.2 million (27.4%)
- Gems, precious metals: $70.9 million (15.9%)
- Vegetables: $15.7 million (3.5%)
- Machinery including computers: $12.6 million (2.8%)
- Vehicles: $10.7 million (2.4%)
- Animal/vegetable fats, oils, waxes: $9.7 million (2.2%)
- Live animals: $6.8 million (1.5%)
- Electrical machinery, equipment: $5.9 million (1.3%)
- Oil seeds: $5.8 million (1.3%)
Niger’s top 10 export categories accounted for 93.5% of the overall value of its global shipments.
Electrical machinery and equipment was the fastest grower among the top 10 export categories, up by 194.5% from 2021 to 2022.
In second place for improving export sales was machinery including computers via a 37.3% advance.
Niger’s shipments of oil seeds posted the third-fastest gain in value, up by 18.7%.
The leading decliner among Niger’s top 10 export categories was live animals, pulled down by a -65% year-over-year drop.
At the more detailed four-digit Harmonized Tariff System code level, Niger’s most valuable goods in 2022 were uranium and thorium ores and concentrates at 35.2% of its global total. In second place were processed petroleum oils (27.4%), unwrought gold (15.9%), onions and shallots (2.8%), palm oil (2.2%), heavy machinery including bulldozers, excavators and road rollers (1.4%), locust beans (1.2%), live bovine cattle (also 1.2%), trucks (0.9%), then worn clothing (0.8%).
Products Generating Niger’s Best Trade Surpluses
The following types of Nigerien product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Ores, slag, ash: US$156.3 million (Down by -13.3% since 2021)
- Gems, precious metals: $70.5 million (Down by -6.9%)
- Vegetables: $7 million (Down by -73%)
- Live animals: $6.7 million (Down by -65%)
- Oil seeds: $4.3 million (Up by 19.9%)
- Gums, resins, other vegetable saps: $36,000 (Reversing an -$11,000 deficit)
- Raw hides, skins not furskins, leather: $25,000 (Up by 38.9%)
- Wool: $2,000 (Reversing a -$31,000 deficit)
Niger has highly positive net exports in the international trade under the ores, slag and ash product category, notably for uranium or thorium ores and concentrates.
Products Causing Niger’s Worst Trade Deficits
Overall Niger incurred a -US$3.34 billion trade deficit for 2022, expanding by 55.3% from -$2.15 billion in red ink one year earlier in 2021.
Below are exports from Niger that result in the greatest negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Niger’s goods trail Nigerien importer spending on foreign products.
- Cereals: -US$548.1 million (Up by 15.6% since 2021)
- Aircraft, spacecraft: -$432.3 million (Up by 104%)
- Arms, ammunition: -$342 million (Up by 327.2%)
- Machinery including computers: -$338.7 million (Up by 56.3%)
- Articles of iron or steel: -$287.7 million (Up by 150.8%)
- Electrical machinery, equipment: -$165.4 million (Up by 40.1%)
- Vehicles: -$145.2 million (Down by -33.9%)
- Mineral fuels including oil: -$119.2 million (Reversing a $100.7 million surplus)
- Miscellaneous textiles, worn clothing: -$115.2 million (Up by 170.9%)
- Pharmaceuticals: -$102.8 million (Down by -21.3%)
Niger has highly negative net exports and therefore deep international trade deficits for cereals, particularly for rice and, to a lesser extent, corn.
Nigerien Export Companies
Not one Nigerien corporation ranks among Forbes Global 2000.
Wikipedia lists export-related companies from Niger. Selected examples are shown below.
- Air Niamey (airliner)
- COMINAK (uranium mining)
- SONIDEP (oil, gas)
- SONITEL (telecommunications)
In macroeconomic terms, Niger’s total exported goods represent 1.1% of its overall Gross Domestic Product for 2022 ($39.3 billion valued in Purchasing Power Parity US dollars). That 1.1% for exports to overall GDP in PPP for 2022 compares to 1.9% for 2021. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Niger’s total economic performance, albeit based on relatively short timeframe.
Another key indicator of an economy’s health is its unemployment rate. Niger’s unemployment rate averaged 0.5% for 2022, down from an average 0.7% for 2021.
Niger’s capital city is Niamey.
See also France’s Top Trading Partners, Nigeria’s Top 10 Exports and Capital Facts for Niamey, Niger
Research Sources:
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on September 18, 2023
International Monetary Fund, World Economic Outlook Databases (GDP based on Purchasing Power Parity). Accessed on September 18, 2023
International Trade Centre, Trade Map. Accessed on September 18, 2023
Investopedia, Net Exports Definition. Accessed on September 18, 2023
Wikipedia, List of Companies of Niger. Accessed on September 18, 2023