That dollar amount reflects a -45.3% decline from $854.3 million 5 years earlier in 2019 but a 4.8% year-over-year upturn compared to $446.1 million during 2022.
Based on the average exchange rate for 2023, Niger uses the West African CFA franc depreciated by -3.5% against the US dollar since 2019 yet appreciated by 2.8% from 2022 to 2023. Niger’s weaker local currency versus the 2019 valuation 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 and concentrates, unwrought gold and processed petroleum oils. Combined, that trio of leading exported goods represent well over four-fifths (85.8%) 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 98.8% of products exported from Niger was bought by importers in: France (44.3% of Niger’s total), United Arab Emirates (21.3%), Mali (10.9%), Burkina Faso (7.6%), Chad (3.5%), Nigeria (3.1%), South Africa (2.5%), Ghana (2.4%), Germany (1.2%), Benin (1.1%), mainland China (0.5%) and Ivory Coast (0.3%).
From a continental perspective, 46.2% of Niger’s exports by value was delivered to European countries while 31.9% was sold to importers in fellow African countries.
Niger shipped another 21.9% worth of goods to Asia, with just 0.04% going to buyers in North America.
Given Niger’s population of 27.1 million people, its total $467.4 million in 2023 exports translates to roughly $17 for every resident in the northwest African country. That dollar metric is on par with the average $17 per capita one year earlier during 2022.
Niger’s Top 10 Exports
The following export product groups represent the highest dollar value in Nigerien global shipments during 2023, 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$204.4 million (43.7% of total exports)
- Gems, precious metals: $110.9 million (23.7%)
- Mineral fuels including oil: $86 million (18.4%)
- Vegetables: $16.6 million (3.5%)
- Machinery including computers: $10.4 million (2.2%)
- Railways, streetcars: $6.5 million (1.4%)
- Vehicles: $5.1 million (1.1%)
- Live animals: $4.1 million (0.9%)
- Animal/vegetable fats, oils, waxes: $3.2 million (0.7%)
- Oil seeds: $2.4 million (0.5%)
Niger’s top 10 export categories accounted for 96.2% of the overall value of its global shipments.
Railways and streetcars was the fastest grower among the top 10 export categories, up by 338.5% from 2022 to 2023.
In second place for improving export sales was gems and precious metals via a 56.4% uptick, led by gold.
Niger’s shipments of ores, slag and ash posted the third-fastest gain in value, up by 30.2%.
The leading decliner among Niger’s top 10 export categories was animal or vegetable fats, oils and waxes, recording a -67.2% year-over-year drop.
At the more detailed four-digit Harmonized Tariff System code level, Niger’s most valuable goods in 2023 were uranium and thorium ores and concentrates at 43.7% of its global total. In second place was unwrought gold (23.7%), processed petroleum oils (18.4%), onions and shallots (2.5%), specially designed containers (1.4%), dried shelled vegetables (0.9%), heavy machinery including bulldozers, excavators and road rollers (0.7%), live bovine cattle (0.7%), palm oil (also 0.7%) then trucks (0.6%).
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$204.4 million (Up by 30.8% since 2022)
- Gems, precious metals: $110.5 million (Up by 56.8%)
- Vegetables: $12.7 million (Up by 81.7%)
- Live animals: $4 million (Reversing a -$111,000 deficit)
- Oil seeds: $1.3 million (Down by -68.9%)
- Live trees, plants, cut flowers: $8,000 (Down by -107.2%)
- Gums, resins, other vegetable saps: $2,000 (Down by -94.4%)
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$2.67 billion trade deficit for 2023, falling by -20.1% from -$3.34 billion in red ink one year earlier in 2022.
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.
- Aircraft, spacecraft: -US$623.7 million (Up by 44.3% since 2022)
- Machinery including computers: -$401.1 million (Up by 18.4%)
- Cereals: -$309.3 million (Down by -43.6%)
- Articles of iron or steel: -$261.3 million (Down by -9.2%)
- Electrical machinery, equipment: -$239.5 million (Up by 44.8%)
- Mineral fuels including oil: -$142 million (Up by 19.1%)
- Vehicles: -$129.9 million (Down by -10.5%)
- Pharmaceuticals: -$91.8 million (Down by -10.7%)
- Animal/vegetable fats, oils, waxes: -$68.7 million (Up by 8%)
- Arms, ammunition: -$63.4 million (Down by -81.4%)
Niger has highly negative net exports and therefore deep international trade deficits under the highly capital intensive product category, aircraft and spacecraft.
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 2023 ($41.6 billion valued in Purchasing Power Parity US dollars). That 1.1% for exports to overall GDP in PPP for 2023 mirrors the 1.1% for 2022. Those percentages suggest a relatively stable 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 2023, down from an average 0.6% for 2022.
Niger’s capital city is Niamey.
See also France’s Top Trading Partners and Nigeria’s Top 10 Exports
Research Sources:
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on October 27, 2024
International Monetary Fund, World Economic Outlook Databases (GDP based on Purchasing Power Parity). Accessed on October 27, 2024
International Trade Centre, Trade Map. Accessed on October 27, 2024
Investopedia, Net Exports Definition. Accessed on October 27, 2024
Wikipedia, List of Companies of Niger. Accessed on October 27, 2024