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Flag → Flag
Top Product $63.5MRefined Petroleum
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Flag → Flag
Exports $5.76BRnk 2 / 159
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Flag → Flag
Top Product $3.64BCrude Petroleum
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
Flag
GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
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 GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
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GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
GDP PC $33,509CURRENT US$
Rnk 40 / 195
2013-2023
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GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195
2023
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GDP PC$1,597CURRENT US$
Rnk 164 / 196
2013-2023
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GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195

About

In N/A, Spain did not export any services to Nigeria.

Nigeria-Spain Trade: In N/A, Nigeria exported $5.76B to Spain. The main products that Nigeria exported to Spain were Crude Petroleum ($3.64B), Petroleum Gas ($1.99B), and Rubber ($25.6M). Over the past N/A years the exports of Nigeria to Spain have decreased at an annualized rate of 1.11%,  from $6.09B in N/A to $5.76B in N/A.

In N/A, Nigeria did not export any services to Spain.

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). That same year, Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B).

Latest Trends

November, 2024

About

Overview In November 2024, Spain exported €19M and imported €277M from Nigeria, resulting in a negative trade balance of €258M. Between November 2023 and November 2024 the exports of Spain have decreased by €-1.08M (-5.38%) from €20M to €19M, while imports decreased by €-200M (-41.9%) from €477M to €277M.

Trade In November 2024, the top exports of Spain to Nigeria were Commodities not elsewhere specified (€10.9M), Phosphatic Fertilizers (€3.99M), Carbonates (€3.16M), Unglazed Ceramics (€1.39M), and Lifting Machinery (€1.32M). In November 2024 the top imports of Spain from Nigeria were Petroleum Gas (€358M), Crude Petroleum (€314M), Rubber (€1.91M), Tanned Sheep Hides (€1.64M), and Leather further prepared after tanning or... (€1.24M).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€4.39M), Sin provincia asignada (€2.52M), Valencia (€2.18M), Murcia (€1.62M), and Castellón (€1.38M), while imports destinations were mainly Cádiz (€78.1M), Huelva (€76M), Vizcaya (€43.1M), Madrid (€39.2M), and A Coruña (€25.4M).

Growth In November 2024, the decrease in Spain's year-by-year exports to Nigeria was explained primarily by an decrease in product exports in Other Iron Products (€-3.14M or -100%), Unglazed Ceramics (€-758k or -35.4%), and Plastic Lids (€-570k or -91%). In November 2024, the decrease in Spain's year-by-year imports  from Nigeria was explained primarily by an decrease in product imports  in Crude Petroleum (€-107M or -25.4%), Tanned Goat Hides (€-138k or -31.4%), and Perfume Plants (€-124k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€-1.08M(-5.38%)
IMPORT GROWTH (November 2023 - November 2024)€-200M(-41.9%)
MAIN EXPORTER (November 2024)Barcelona€4.39M

This section shows exports and imports data at subnational level for Spain. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Spain over time.

To check Nigeria and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

Spain does not register exports to Nigeria. The main products exported from Spain to Nigeria were Refined Petroleum ($63.5M), Unglazed Ceramics ($20.1M), and Gypsum ($17.3M).

In 2018, Nigeria exported $5.76B to Spain. The main products exported from Nigeria to Spain were Crude Petroleum ($3.64B), Petroleum Gas ($1.99B), and Rubber ($25.6M). During the last 5 years the exports of Nigeria to Spain have decreased at an annualized rate of 1.11%, from $6.09B in 2023 to $5.76B in 2018.

Exports from Spain (Flag) to Nigeria (Flag) (2023)

Exports from Nigeria (Flag) to Spain (Flag) (2023)

Market Competitiveness

Color
Spain
Top DestinationN/AN/A
Nigeria
Top DestinationN/AN/A

This map shows whether countries import more from Spain or Nigeria. Each country is colored based on the difference in imports they receive from Spain and Nigeria or the difference in the growth in imports.

N/A

N/A

Difference in imports from Nigeria (Flag) and Spain (Flag) (2023)

Comparative Advantage Spain - Nigeria

Flow
Scale

This chart compares trade between Spain and Nigeria by product, considering products traded by both, Spain and Nigeria.

During 2018, Nigeria had a large net trade with Spain in the exports of N/A.

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Nigeria+$54.3MRefined Petroleum
Top Product Potential Nigeria Spain+$1.37BPetroleum Gas

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Spain and Nigeria. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Spain.

Product Space of Spain (Flag) and Nigeria (Flag) (2023)

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