2023
Exports
$3MWorld Rnk 106 / 210
Flag Rnk 126 / 1096
2023
PRODUCT COMPLEXITY IN Cars
0.9Rnk 206 / 1025
2023
Imports
$1.56BWorld Rnk 69 / 225
Flag Rnk 4 / 1184
2023
ECONOMIC COMPLEXITY of Nigeria
-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $3M in Cars, making it the 106th largest exporter of Cars in the world. At the same year, Cars was the 126th most exported product in Nigeria. The main destination of Cars exports from Nigeria are: Benin ($1.92M), Liberia ($258k), Austria ($216k), Egypt ($160k), and United States ($124k).

The fastest growing export markets for Cars of Nigeria between 2022 and 2023 were Liberia ($223k), Austria ($216k), and Egypt ($160k).

Imports In 2023, Nigeria imported $1.56B in Cars, becoming the 69th largest importer of Cars in the world. At the same year, Cars was the 4th most imported product in Nigeria. Nigeria imports Cars primarily from: United States ($1.04B), United Arab Emirates ($116M), Canada ($73.9M), China ($63.7M), and India ($58.8M).

The fastest growing import markets in Cars for Nigeria between 2022 and 2023 were United States ($318M), Japan ($18.3M), and United Arab Emirates ($18.3M).

Latest Trends

Dec 2024

Subnational Monthly Trade

View
Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Cars. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$3M
IMPORTS (2023)$1.56B
NET TRADE (2023)-$1.56B

In 2023, Nigeria exported $3M in Cars. The main destinations of Nigeria exports on Cars were Benin ($1.92M), Liberia ($258k), Austria ($216k), Egypt ($160k), and United States ($124k).

In 2023, Nigeria imported $1.56B in Cars, mainly from United States ($1.04B), United Arab Emirates ($116M), Canada ($73.9M), China ($63.7M), and India ($58.8M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Cars EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
Liberia$223k (644%)
Austria$216k (1%)
Egypt$160k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cars BY Nigeria WERE (2022 - 2023):
Germany-$62.4k (-89.3%)
Ethiopia-$47.9k (-100%)
Italy-$38.4k (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Cars were:
Japan $119B
China $74.5B
In 2023, Nigeria's main importing competitors in Cars were:

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Trade Value of Cars by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $640k
TOP IMPORT POTENTIALUnited States+ $91.1M

Cars’s highest export potential is United States. With an export gap of $640k.   Cars’s highest import potential is United States with an import gap of $91.1M.

See methodology.

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