2023
Exports
$33.1MWorld Rnk 29 / 164
Flag Rnk 46 / 1096
2023
PRODUCT COMPLEXITY IN Precious Stones
-1.29Rnk 897 / 1025
2023
Imports
$44.3kWorld Rnk 116 / 184
Flag Rnk 1083 / 1184
2023
ECONOMIC COMPLEXITY of Nigeria
-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $33.1M in Precious Stones, making it the 29th largest exporter of Precious Stones in the world. At the same year, Precious Stones was the 46th most exported product in Nigeria. The main destination of Precious Stones exports from Nigeria are: India ($12.8M), United States ($11.7M), Thailand ($1.73M), France ($1.67M), and Italy ($1.58M).

The fastest growing export markets for Precious Stones of Nigeria between 2022 and 2023 were India ($11M), United States ($5.03M), and Switzerland ($976k).

Imports In 2023, Nigeria imported $44.3k in Precious Stones, becoming the 116th largest importer of Precious Stones in the world. At the same year, Precious Stones was the 1083rd most imported product in Nigeria. Nigeria imports Precious Stones primarily from: South Africa ($21.5k), Thailand ($16.9k), United States ($2.97k), Belgium ($1.22k), and Zambia ($536).

The fastest growing import markets in Precious Stones for Nigeria between 2022 and 2023 were South Africa ($21.5k), Thailand ($11.1k), and United States ($1.86k).

Latest Trends

Dec 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 (2023)$33.1M
IMPORTS (2023)$44.3k
NET TRADE (2023)$33M

In 2023, Nigeria exported $33.1M in Precious Stones. The main destinations of Nigeria exports on Precious Stones were India ($12.8M), United States ($11.7M), Thailand ($1.73M), France ($1.67M), and Italy ($1.58M).

In 2023, Nigeria imported $44.3k in Precious Stones, mainly from South Africa ($21.5k), Thailand ($16.9k), United States ($2.97k), Belgium ($1.22k), and Zambia ($536).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Precious Stones EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
India$11M (619%)
United States$5.03M (75.1%)
Switzerland$976k (1.04k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Precious Stones BY Nigeria WERE (2022 - 2023):
Germany-$746k (-48.4%)
China-$235k (-24.5%)
United Kingdom-$63.6k (-95.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Precious Stones were:
In 2023, 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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