Nigeria’s aluminium export expected to rise in 2017; Japan tops the importer list

Nigeria is the 49th largest export economy in the world and the 107th most complex economy according to the Economic Complexity Index (ECI). The country exports raw aluminium and scrap aluminium to name a few around the globe.

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Nigeria’s Alscon, an 85%-owned subsidiary of Russia's UC Rusal, has an annual production capacity of 193 thousand tonnes of aluminium. Aluminium exports by Nigeria have increased significantly over the last two years and are expected to follow the trend in the coming years. Japan is the major importer of aluminium from the country.

According to the estimated data, in the year 2015, export of aluminium stood at about 55999 tonnes. The volume increased to 63111 tonnes in 2016. The aluminium export is estimated to rise significantly in 2017. The country is expected to export a total volume of 74213 tonnes of aluminium.

The estimated value of aluminium export was USD 105 million and USD 103 million respectively for 2015 and 2016.  In the year 2017, the value of export is estimated to stand at USD 413 million.

Japan imported 45266 tonnes of aluminium in 2016. Japan is followed by India (6381 tonnes), South Korea (5576 tonnes) and Thailand (2479 tonnes). China imported 1,246 tonnes of aluminium during January-July, an increase of 253 per cent.