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2023
Flag → Flag
Exports $12.7MRnk 66 / 159
2023
Flag → Flag
Top Product $10.1MScrap Vessels
2023
Flag → Flag
Exports $23.1MRnk 18 / 76
2023
Flag → Flag
Top Product $13.4MAcyclic alcohol derivatives (halogenated, sulphonated, nitrated)
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
 GDP$12.3BCURRENT US$
Rnk 146 / 195
2013-2023
Flag
GDP GROWTH-43.8%CURRENT US$
Rnk 195 / 195
2023
Flag
GDP PC $1,597CURRENT US$
Rnk 164 / 195
2013-2023
Flag
GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195
2023
Flag
GDP PC$6,678CURRENT US$
Rnk 108 / 196
2013-2023
Flag
GDP PC GROWTH-59%CURRENT US$
Rnk 195 / 195

About

Nigeria-Equatorial Guinea Trade: In 2023, Nigeria exported $12.7M to Equatorial Guinea. The main products that Nigeria exported to Equatorial Guinea were Scrap Vessels ($10.1M), Iron Pipes ($1.71M), and Other Iron Products ($669k). Over the past 5 years the exports of Nigeria to Equatorial Guinea have increased at an annualized rate of 164%, from $99.5k in 2018 to $12.7M in 2023.

In 2023, Nigeria did not export any services to Equatorial Guinea.

Equatorial Guinea-Nigeria Trade: In 2023, Equatorial Guinea exported $23.1M to Nigeria. The main products that Equatorial Guinea exported to Nigeria were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($13.4M), Petroleum Gas ($9.55M), and Motor vehicles; parts and accessories (8701 to 8705) ($39k). Over the past 5 years the exports of Equatorial Guinea to Nigeria have decreased at an annualized rate of 5.49%,  from $30.6M in 2018 to $23.1M in 2023.

In 2023, Equatorial Guinea 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, Equatorial Guinea ranked 127 in total exports ($5.13B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nigeria exported $12.7M to Equatorial Guinea. The main products exported from Nigeria to Equatorial Guinea were Scrap Vessels ($10.1M), Iron Pipes ($1.71M), and Other Iron Products ($669k). During the last 5 years the exports of Nigeria to Equatorial Guinea have increased at an annualized rate of 164%, from $99.5k in 2018 to $12.7M in 2023.

In 2018, Equatorial Guinea exported $23.1M to Nigeria. The main products exported from Equatorial Guinea to Nigeria were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($13.4M), Petroleum Gas ($9.55M), and Motor vehicles; parts and accessories (8701 to 8705) ($39k). During the last 5 years the exports of Equatorial Guinea to Nigeria have decreased at an annualized rate of 5.49%, from $30.6M in 2023 to $23.1M in 2018.

Exports from Nigeria (Flag) to Equatorial Guinea (Flag) (2023)

Exports from Equatorial Guinea (Flag) to Nigeria (Flag) (2023)

Latest Data

Trade between Nigeria (Flag) and Equatorial Guinea (Flag)

Nigeria Exports

Market Competitiveness

Color
Nigeria
Top DestinationUnited States$6.29B
Equatorial Guinea
Top DestinationChina$1.37B

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

In 2023, countries that imported more from Nigeria than Equatorial Guinea included United States ($6.29B), Spain ($5.76B), and France ($4.76B).

In 2023, countries that imported more from Equatorial Guinea than Nigeria included Chile ($137M), El Salvador ($27M), and Panama ($7.23M).

Difference in imports from Equatorial Guinea (Flag) and Nigeria (Flag) (2023)

Comparative Advantage Nigeria - Equatorial Guinea

Flow
Scale

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

During 2023, Nigeria had a large net trade with Equatorial Guinea in the exports of Transportation ($10.1M), Metals ($2.38M), and Paper Goods ($150k).

During 2018, Equatorial Guinea had a large net trade with Nigeria in the exports of Chemical Products ($13.4M), Mineral Products ($9.55M), and Transportation ($96.3k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Equatorial Guinea+$42.7kFlavored Water
Top Product Potential Equatorial Guinea Nigeria+$5.55MPetroleum 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 Nigeria and Equatorial Guinea. This means that a dot/product with the flag of Nigeria indicates it has a comparative advantage over Equatorial Guinea. Similarly, a dot/product with the flag of Equatorial Guinea indicates it has a comparative advantage over Nigeria.

Product Space of Nigeria (Flag) and Equatorial Guinea (Flag) (2023)

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