2022
Exports
$15.2MWorld Rnk 30 / 162
Flag Rnk 62 / 1077
2022
PRODUCT COMPLEXITY IN Precious Stones
-1.14Rnk 866 / 1025
2022
Imports
$26.6kWorld Rnk 128 / 185
Flag Rnk 1098 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $15.2M in Precious Stones, making it the 30th largest exporter of Precious Stones in the world. At the same year, Precious Stones was the 62nd most exported product in Nigeria. The main destination of Precious Stones exports from Nigeria are: United States ($6.7M), India ($1.78M), Germany ($1.52M), France ($1.43M), and Thailand ($1.34M).

The fastest growing export markets for Precious Stones of Nigeria between 2021 and 2022 were United States ($4.22M), France ($904k), and Italy ($710k).

Imports In 2022, Nigeria imported $26.6k in Precious Stones, becoming the 128th largest importer of Precious Stones in the world. At the same year, Precious Stones was the 1098th most imported product in Nigeria. Nigeria imports Precious Stones primarily from: Tanzania ($16.3k), Thailand ($5.58k), United States ($1.12k), United Arab Emirates ($1.02k), and Belgium ($739).

The fastest growing import markets in Precious Stones for Nigeria between 2021 and 2022 were Tanzania ($16.3k), Thailand ($4.84k), and United Arab Emirates ($1.02k).

Latest Trends

Aug 2024

Subnational Monthly Trade

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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 Precious Stones. 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 (2022)$15.2M
IMPORTS (2022)$26.6k
NET TRADE (2022)$15.2M

In 2022, Nigeria exported $15.2M in Precious Stones. The main destinations of Nigeria exports on Precious Stones were United States ($6.7M), India ($1.78M), Germany ($1.52M), France ($1.43M), and Thailand ($1.34M).

In 2022, Nigeria imported $26.6k in Precious Stones, mainly from Tanzania ($16.3k), Thailand ($5.58k), United States ($1.12k), United Arab Emirates ($1.02k), and Belgium ($739).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Precious Stones EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
United States$4.22M (170%)
France$904k (170%)
Italy$710k (291%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Precious Stones BY Nigeria WERE (2021 - 2022):
Singapore-$1.69M (-99.3%)
Hong Kong-$212k (-41.4%)
Switzerland-$87.4k (-48.3%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Precious Stones were:
In 2022, Nigeria's main importing competitors in Precious Stones were:

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Trade Value of Precious Stones by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $5.31M
TOP IMPORT POTENTIALTanzania+ $17.7k

Precious Stones’s highest export potential is United States. With an export gap of $5.31M.   Precious Stones’s highest import potential is Tanzania with an import gap of $17.7k.

See methodology.

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