Nigeria (NGA) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Nigeria-Spain Trade: In 2023, 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 5 years the exports of Nigeria to Spain have decreased at an annualized rate of 1.11%, from $6.09B in 2018 to $5.76B in 2023.

In 2023, Nigeria did not export any services to Spain.

Spain-Nigeria Trade: In 2023, Spain exported $348M to Nigeria. The main products that Spain exported to Nigeria were Refined Petroleum ($63.5M), Unglazed Ceramics ($20.1M), and Gypsum ($17.3M). Over the past 5 years the exports of Spain to Nigeria have decreased at an annualized rate of 1.5%, from $375M in 2018 to $348M in 2023.

In 2023, Spain did not export any services to Nigeria.

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

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, 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 2018 to $5.76B in 2023.

In 2018, Spain exported $348M to Nigeria. The main products exported from Spain to Nigeria were Refined Petroleum ($63.5M), Unglazed Ceramics ($20.1M), and Gypsum ($17.3M). During the last 5 years the exports of Spain to Nigeria have decreased at an annualized rate of 1.5%, from $375M in 2023 to $348M in 2018.

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

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

Latest Data

Trade between Nigeria () and Spain ()

Nigeria Exports

Date

Spain Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nigeria
Top DestinationUnited States$6.29B

Spain
Top DestinationFrance$61.9B

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

In 2023, countries that imported more from Nigeria than Spain included Indonesia ($3.44B), Cote d'Ivoire ($2.4B), and South Africa ($2.37B).

In 2023, countries that imported more from Spain than Nigeria included France ($61.9B), Germany ($40.2B), and Portugal ($38.1B).

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

Comparative Advantage Nigeria - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nigeria had a large net trade with Spain in the exports of Mineral Products ($5.63B), Plastics and Rubbers ($27M), and Transportation ($25.2M).

During 2018, Spain had a large net trade with Nigeria in the exports of Mineral Products ($89.7M), Chemical Products ($53.8M), and Foodstuffs ($43M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nigeria Spain+$1.37BPetroleum Gas

Top Product Potential Spain Nigeria+$54.3MRefined Petroleum

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

Year

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

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Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Nigeria () and Spain ()

Nigeria Exports

Spain Exports

Market Competitiveness

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

Comparative Advantage Nigeria - Spain

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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