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2022
Flag → Flag
Exports $719MRnk 24 / 166
2022
Flag → Flag
Top Product $236MPetroleum Gas
2022
Flag → Flag
Exports $7.72BRnk 11 / 222
2022
Flag → Flag
Top Product $6.83BRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag  
GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
 GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC $2,184CURRENT US$
Rnk 146 / 186
2012-2022
Flag
GDP PC GROWTH-19.9%CURRENT US$
Rnk 173 / 186
2022
Flag
GDP PC$49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186

About

Nigeria-Belgium Trade: In 2022, Nigeria exported $719M to Belgium. The main products that Nigeria exported to Belgium were Petroleum Gas ($236M), Refined Petroleum ($183M), and Crude Petroleum ($148M). Over the past 5 years the exports of Nigeria to Belgium have increased at an annualized rate of 30.7%, from $189M in 2017 to $719M in 2022.

In 2022, Nigeria did not export any services to Belgium.

Belgium-Nigeria Trade: In 2022, Belgium exported $7.72B to Nigeria. The main products that Belgium exported to Nigeria were Refined Petroleum ($6.83B), Vaccines, blood, antisera, toxins and cultures ($515M), and Malt ($32M). Over the past 5 years the exports of Belgium to Nigeria have increased at an annualized rate of 46.3%,  from $1.15B in 2017 to $7.72B in 2022.

In 2020, Belgium exported services to Nigeria worth $32M, with Transportation ($13.7M), Other business services ($12.6M), and Financial services ($3.43M) being the largest in terms of value.

Comparison: In 2022,  Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $719M to Belgium. The main products exported from Nigeria to Belgium were Petroleum Gas ($236M), Refined Petroleum ($183M), and Crude Petroleum ($148M). During the last 5 years the exports of Nigeria to Belgium have increased at an annualized rate of 30.7%, from $189M in 2017 to $719M in 2022.

In 2017, Belgium exported $7.72B to Nigeria. The main products exported from Belgium to Nigeria were Refined Petroleum ($6.83B), Vaccines, blood, antisera, toxins and cultures ($515M), and Malt ($32M). During the last 5 years the exports of Belgium to Nigeria have increased at an annualized rate of 46.3%, from $1.15B in 2022 to $7.72B in 2017.

Exports from Nigeria (Flag) to Belgium (Flag) (2022)

Exports from Belgium (Flag) to Nigeria (Flag) (2022)

Latest Data

Trade between Nigeria (Flag) and Belgium (Flag)

Nigeria Exports

Belgium Exports

Market Competitiveness

Color
Nigeria
Top DestinationSpain$9.41B
Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from Nigeria than Belgium included Indonesia ($3.83B), Cote d'Ivoire ($1.97B), and Gibraltar ($1.15B).

In 2022, countries that imported more from Belgium than Nigeria included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

Difference in imports from Belgium (Flag) and Nigeria (Flag) (2022)

Comparative Advantage Nigeria - Belgium

Flow
Scale

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

During 2022, Nigeria had a large net trade with Belgium in the exports of Mineral Products ($623M), Transportation ($46.9M), and Animal Products ($13.9M).

During 2017, Belgium had a large net trade with Nigeria in the exports of Mineral Products ($6.83B), Chemical Products ($581M), and Machines ($79.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Belgium+$282MPetroleum Gas
Top Product Potential Belgium Nigeria+$31.1MCars

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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Bilateral Service Trade

In 2020, Belgium exported services to Nigeria worth $32M, with Transportation ($13.7M), Other business services ($12.6M), and Financial services ($3.43M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium (Flag) to Nigeria (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Nigeria (Flag) and Belgium (Flag) (2022)

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