Nigeria (NGA) and Libya (LBY) Trade | The Observatory of Economic Complexity

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Nigeria-Libya Trade: In 2023, Nigeria exported $1.05M to Libya. The main products that Nigeria exported to Libya were Beauty Products ($502k), Coconuts, Brazil Nuts, and Cashews ($218k), and Perfumes ($199k). Over the past 5 years the exports of Nigeria to Libya have increased at an annualized rate of 4.42%, from $845k in 2018 to $1.05M in 2023.

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

Libya-Nigeria Trade: In 2023, Libya exported $10.9k to Nigeria. The main products that Libya exported to Nigeria were Cars ($9.42k) and Broadcasting Equipment ($1.44k). Over the past 5 years the exports of Libya to Nigeria have decreased at an annualized rate of 31.3%, from $71.1k in 2018 to $10.9k in 2023.

In 2023, Libya 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, Libya ranked 102 in the Economic Complexity Index (ECI -0.84), and 67 in total exports ($35.4B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nigeria exported $1.05M to Libya. The main products exported from Nigeria to Libya were Beauty Products ($502k), Coconuts, Brazil Nuts, and Cashews ($218k), and Perfumes ($199k). During the last 5 years the exports of Nigeria to Libya have increased at an annualized rate of 4.42%, from $845k in 2018 to $1.05M in 2023.

In 2018, Libya exported $10.9k to Nigeria. The main products exported from Libya to Nigeria were Cars ($9.42k) and Broadcasting Equipment ($1.44k). During the last 5 years the exports of Libya to Nigeria have decreased at an annualized rate of 31.3%, from $71.1k in 2023 to $10.9k in 2018.

Exports from Nigeria () to Libya () (2023)

Exports from Libya () to Nigeria () (2023)

Latest Data

Trade between Nigeria () and Libya ()

Nigeria Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nigeria
Top DestinationUnited States$6.29B

Libya
Top DestinationItaly$7.96B

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

In 2023, countries that imported more from Nigeria than Libya included United States ($6.29B), Indonesia ($3.44B), and India ($3.64B).

In 2023, countries that imported more from Libya than Nigeria included Italy ($7.96B), Germany ($5.16B), and Greece ($2.2B).

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

Comparative Advantage Nigeria - Libya

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nigeria had a large net trade with Libya in the exports of Chemical Products ($701k), Vegetable Products ($278k), and Foodstuffs ($70.7k).

During 2018, Libya had a large net trade with Nigeria in the exports of Transportation ($9.42k) and Machines ($1.44k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nigeria Libya+$284kCoconuts, Brazil Nuts, and Cashews

Top Product Potential Libya Nigeria+$57.7kCars

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 Libya. This means that a dot/product with the flag of Nigeria indicates it has a comparative advantage over Libya. Similarly, a dot/product with the flag of Libya indicates it has a comparative advantage over Nigeria.

About

Historical Data

Bilateral Trade by Products

Exports from Nigeria () to Libya () (2023)

Exports from Libya () to Nigeria () (2023)

Latest Data

Trade between Nigeria () and Libya ()

Nigeria Exports

Market Competitiveness

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

Comparative Advantage Nigeria - Libya

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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