2022
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GDP
$477BCURRENT US$
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2012-2022
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GDP GROWTH
2.89%CURRENT US$
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2022
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 GDP
$1.67TCURRENT US$
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2012-2022
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GDP GROWTH
30.3%CURRENT US$
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2022
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GDP PC 
$2,184CURRENT US$
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2012-2022
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GDP PC GROWTH
-19.9%CURRENT US$
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2022
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GDP PC
$32,255CURRENT US$
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2012-2022
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GDP PC GROWTH
26.7%CURRENT US$
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About

Nigeria-South Korea In 2022, Nigeria exported $1.78B to South Korea. The main products that Nigeria exported to South Korea are Crude Petroleum ($1.07B), Petroleum Gas ($558M), and Scrap Copper ($82.7M). During the last 27 years the exports of Nigeria to South Korea have increased at an annualized rate of 6.78%, from $303M in 1995 to $1.78B in 2022.

In 2022, Nigeria did not export any services to South Korea.

South Korea-Nigeria In 2022, South Korea exported $944M to Nigeria. The main products that South Korea exported to Nigeria were Refined Petroleum ($243M), Propylene Polymers ($104M), and Ethylene Polymers ($71.8M). During the last 27 years the exports of South Korea to Nigeria have increased at an annualized rate of 5.87%, from $202M in 1995 to $944M in 2022.

In 2022, South Korea did not export any services to Nigeria.

Comparison In 2022,  Nigeria ranked 119 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $1.78B to South Korea. The main products exported from Nigeria to South Korea were Crude Petroleum ($1.07B), Petroleum Gas ($558M), and Scrap Copper ($82.7M). During the last 27 years the exports of Nigeria to South Korea have increased at an annualized rate of 6.78%, from $303M in 1995 to $1.78B in 2022.

In 2022, South Korea exported $944M to Nigeria. The main products exported from South Korea to Nigeria were Refined Petroleum ($243M), Propylene Polymers ($104M), and Ethylene Polymers ($71.8M). During the last 27 years the exports of South Korea to Nigeria have increased at an annualized rate of 5.87%, from $202M in 1995 to $944M in 2022.

Exports from Nigeria (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to Nigeria (Flag) (2022)

Latest Data

Trade between Nigeria (Flag) and South Korea (Flag)

Nigeria Exports

South Korea Exports

Market Competitiveness

Color
Nigeria
Top Destination
Spain$9.41B
South Korea
Top Destination
China$150B

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

In 2021, countries that imported more from Nigeria than South Korea were Spain ($9.41B), Cote d'Ivoire ($1.97B), and Gibraltar ($1.15B).

In 2021, countries that imported more from South Korea than Nigeria were China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea (Flag) and Nigeria (Flag) (2022)

Comparative Advantage Nigeria - South Korea

Flow
Scale

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

During 2022, Nigeria had a large net trade with South Korea in the exports of Mineral Products ($1.62B), Metals ($143M), and Vegetable Products ($7.52M).

During 2022, South Korea had a large net trade with Nigeria in the exports of Plastics and Rubbers ($296M), Mineral Products ($244M), and Metals ($93.7M).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Nigeria has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Nigeria.

Product Space of Nigeria (Flag) and South Korea (Flag) (2022)

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