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2021
Exports $1.38kWorld Rnk 0 / 0
Flag Rnk 0 / 0
falsefalseN/A
2022
PRODUCT COMPLEXITY IN Rare-Earth Metal Compounds0.68Rnk 287 / 1025
2021
Imports $59.5kWorld Rnk 63 / 144
Flag Rnk 1058 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria-1.67Rnk 127 / 133

About

Imports In 2022, Nigeria imported $59.5k in Rare-Earth Metal Compounds, becoming the 63rd largest importer of Rare-Earth Metal Compounds in the world. At the same year, Rare-Earth Metal Compounds was the 1058th most imported product in Nigeria. Nigeria imports Rare-Earth Metal Compounds primarily from: China ($58k), India ($1.07k), United Kingdom ($396), and United States ($80).

The fastest growing import markets in Rare-Earth Metal Compounds for Nigeria between 2021 and 2022 were United Kingdom ($396) and United States ($80).

Latest Trends

Oct 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 Rare-Earth Metal Compounds. 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 (2021)$1.38k
IMPORTS (2022)$59.5k
NET TRADE (2022)-$59.5k

In 2022, Nigeria imported $59.5k in Rare-Earth Metal Compounds, mainly from China ($58k), India ($1.07k), United Kingdom ($396), and United States ($80).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rare-Earth Metal Compounds BY Nigeria WERE (N/A - 2021):Benin-$1.38k (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Rare-Earth Metal Compounds were:
Malaysia $690M
China $679M
Burma $604M
In 2022, Nigeria's main importing competitors in Rare-Earth Metal Compounds were:
China $1.48B
Japan $488M
Vietnam $376M

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Trade Value of Rare-Earth Metal Compounds by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALChina+ $597
TOP IMPORT POTENTIALChina+ $54.7k

Rare-Earth Metal Compounds’s highest export potential is China. With an export gap of $597.   Rare-Earth Metal Compounds’s highest import potential is China with an import gap of $54.7k.

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