Flag Nigeria / South Korea Flag

2020
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Exports
: $749M, Rnk 17 / 157

2020
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Top Product
: $509M, Crude Petroleum

2020
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Exports
: $650M, Rnk 59 / 218

2020
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Top Product
: $60.5M, Propylene Polymers

2020
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Economic Complexity (ECI)
: ECI -1.65, Rnk 125 / 127

2020
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Economic Complexity (ECI)
: ECI 1.88, Rnk 5 / 127

2020
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GDP
: $432B, CURRENT US$
Rnk 26 / 204

2010-2020
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GDP GROWTH
: 19.6%, CURRENT US$
Rnk 119 / 204

2020
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 GDP
: $1.64T, CURRENT US$
Rnk 10 / 204

2010-2020
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GDP GROWTH
: 43.2%, CURRENT US$
Rnk 70 / 204

2020
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GDP PC 
: $2,097, CURRENT US$
Rnk 157 / 204

2010-2020
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GDP PC GROWTH
: -8.04%, CURRENT US$
Rnk 163 / 204

2020
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GDP PC
: $31,598, CURRENT US$
Rnk 37 / 204

2010-2020
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GDP PC GROWTH
: 36.9%, CURRENT US$
Rnk 47 / 204

Nigeria-South Korea In 2020, Nigeria exported $749M to South Korea. The main products that Nigeria exported to South Korea are Crude Petroleum ($509M), Petroleum Gas ($145M), and Scrap Copper ($43.5M). During the last 25 years the exports of Nigeria to South Korea have increased at an annualized rate of 3.72%, from $300M in 1995 to $749M in 2020.

In 2020, Nigeria did not export any services to South Korea.

South Korea-Nigeria In 2020, South Korea exported $650M to Nigeria. The main products that South Korea exported to Nigeria were Propylene Polymers ($60.5M), Polyacetals ($49.9M), and Aluminium Plating ($37.3M). During the last 25 years the exports of South Korea to Nigeria have increased at an annualized rate of 4.78%, from $202M in 1995 to $650M in 2020.

In 2020, South Korea did not export any services to Nigeria.

Comparison In 2020,  Nigeria ranked 125 in the Economic Complexity Index (ECI -1.65), and 50 in total exports ($42.4B). That same year, South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2020, Nigeria exported $749M to South Korea. The main products exported from Nigeria to South Korea were Crude Petroleum ($509M), Petroleum Gas ($145M), and Scrap Copper ($43.5M). During the last 25 years the exports of Nigeria to South Korea have increased at an annualized rate of 3.72%, from $300M in 1995 to $749M in 2020.

In 2020, South Korea exported $650M to Nigeria. The main products exported from South Korea to Nigeria were Propylene Polymers ($60.5M), Polyacetals ($49.9M), and Aluminium Plating ($37.3M). During the last 25 years the exports of South Korea to Nigeria have increased at an annualized rate of 4.78%, from $202M in 1995 to $650M in 2020.

Nigeria Exports

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South Korea Exports

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Market Competitiveness

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Measure

Nigeria
Top Destination
: India, $6.27B

South Korea
Top Destination
: China, $131B

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 2019, countries that imported more from Nigeria than South Korea were Spain ($4.8B), South Africa ($2.17B), and Cameroon ($1.21B).

In 2019, countries that imported more from South Korea than Nigeria were China ($131B), United States ($75B), and Vietnam ($48B).

Comparative Advantage Nigeria - South Korea

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Flow
Scale

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

During 2020, Nigeria had a large net trade with South Korea in the exports of Mineral Products ($661M), Metals ($73.1M), and Vegetable Products ($9.71M).

During 2020, South Korea had a large net trade with Nigeria in the exports of Plastics and Rubbers ($199M), Machines ($115M), and Metals ($88.7M).

Economic Complexity

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Competitive Landscape

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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.