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2023
Flag → Flag
Exports $682MRnk 22 / 159
2023
Flag → Flag
Top Product $673MCrude Petroleum
2023
Flag → Flag
Exports $159MRnk 65 / 216
2023
Flag → Flag
Top Product $55.2MRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
Flag  
GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
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GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
 GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
Flag
GDP GROWTH0.14%CURRENT US$
Rnk 170 / 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$55,517CURRENT US$
Rnk 19 / 196
2013-2023
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GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195

About

Nigeria-Sweden Trade: In 2023, Nigeria exported $682M to Sweden. The main products that Nigeria exported to Sweden were Crude Petroleum ($673M), Petroleum Gas ($6.59M), and Refined Petroleum ($1.09M). Over the past 5 years the exports of Nigeria to Sweden have decreased at an annualized rate of 18.5%, from $1.9B in 2018 to $682M in 2023.

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

Sweden-Nigeria Trade: In 2023, Sweden exported $159M to Nigeria. The main products that Sweden exported to Nigeria were Refined Petroleum ($55.2M), Other Plastic Products ($20.4M), and Broadcasting Equipment ($14.1M). Over the past 5 years the exports of Sweden to Nigeria have decreased at an annualized rate of 1.54%,  from $172M in 2018 to $159M in 2023.

In 2020, Sweden exported services to Nigeria worth $66.5M, with Computer and information services ($51.1M), Communications services ($5.94M), and Other business services ($3.43M) being the largest in terms of value.

Comparison: In 2023,  Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nigeria exported $682M to Sweden. The main products exported from Nigeria to Sweden were Crude Petroleum ($673M), Petroleum Gas ($6.59M), and Refined Petroleum ($1.09M). During the last 5 years the exports of Nigeria to Sweden have decreased at an annualized rate of 18.5%, from $1.9B in 2018 to $682M in 2023.

In 2018, Sweden exported $159M to Nigeria. The main products exported from Sweden to Nigeria were Refined Petroleum ($55.2M), Other Plastic Products ($20.4M), and Broadcasting Equipment ($14.1M). During the last 5 years the exports of Sweden to Nigeria have decreased at an annualized rate of 1.54%, from $172M in 2023 to $159M in 2018.

Exports from Nigeria (Flag) to Sweden (Flag) (2023)

Exports from Sweden (Flag) to Nigeria (Flag) (2023)

Latest Data

Trade between Nigeria (Flag) and Sweden (Flag)

Nigeria Exports

Sweden Exports

Market Competitiveness

Color
Nigeria
Top DestinationUnited States$6.29B
Sweden
Top DestinationGermany$18.4B

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

In 2023, countries that imported more from Nigeria than Sweden included Indonesia ($3.44B), Cote d'Ivoire ($2.4B), and India ($3.64B).

In 2023, countries that imported more from Sweden than Nigeria included Germany ($18.4B), Denmark ($14.4B), and United States ($18.1B).

Difference in imports from Sweden (Flag) and Nigeria (Flag) (2023)

Comparative Advantage Nigeria - Sweden

Flow
Scale

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

During 2023, Nigeria had a large net trade with Sweden in the exports of Mineral Products ($681M), Machines ($484k), and Vegetable Products ($235k).

During 2018, Sweden had a large net trade with Nigeria in the exports of Mineral Products ($59.6M), Machines ($47M), and Plastics and Rubbers ($25.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Sweden+$146MCrude Petroleum
Top Product Potential Sweden Nigeria+$80.2MRefined 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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Bilateral Service Trade

In 2020, Sweden exported services to Nigeria worth $66.5M, with Computer and information services ($51.1M), Communications services ($5.94M), and Other business services ($3.43M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Sweden (Flag) to Nigeria (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Nigeria (Flag) and Sweden (Flag) (2023)

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