2023
Exports
$60.4MWorld Rnk 17 / 131
Flag Rnk 32 / 1096
2023
PRODUCT COMPLEXITY IN Rubber
-2.34Rnk 1011 / 1025
2023
Imports
$8.33MWorld Rnk 57 / 193
Flag Rnk 484 / 1184
2023
ECONOMIC COMPLEXITY of Nigeria
-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $60.4M in Rubber, making it the 17th largest exporter of Rubber in the world. At the same year, Rubber was the 32nd most exported product in Nigeria. The main destination of Rubber exports from Nigeria are: Spain ($25.6M), Italy ($11.5M), South Africa ($6.76M), Malaysia ($4.93M), and Poland ($3.84M).

The fastest growing export markets for Rubber of Nigeria between 2022 and 2023 were Spain ($6.65M), Malaysia ($3.57M), and Italy ($1.09M).

Imports In 2023, Nigeria imported $8.33M in Rubber, becoming the 57th largest importer of Rubber in the world. At the same year, Rubber was the 484th most imported product in Nigeria. Nigeria imports Rubber primarily from: Cote d'Ivoire ($5.38M), Spain ($1.27M), China ($654k), Pakistan ($510k), and Egypt ($301k).

The fastest growing import markets in Rubber for Nigeria between 2022 and 2023 were Cote d'Ivoire ($3.51M), Spain ($1.27M), and China ($414k).

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 Rubber. 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)$60.4M
IMPORTS (2023)$8.33M
NET TRADE (2023)$52.1M

In 2023, Nigeria exported $60.4M in Rubber. The main destinations of Nigeria exports on Rubber were Spain ($25.6M), Italy ($11.5M), South Africa ($6.76M), Malaysia ($4.93M), and Poland ($3.84M).

In 2023, Nigeria imported $8.33M in Rubber, mainly from Cote d'Ivoire ($5.38M), Spain ($1.27M), China ($654k), Pakistan ($510k), and Egypt ($301k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Rubber EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
Spain$6.65M (35.1%)
Malaysia$3.57M (262%)
Italy$1.09M (10.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Rubber BY Nigeria WERE (2022 - 2023):
France-$12.5M (-100%)
Germany-$6.61M (-91.9%)
China-$4.27M (-71.5%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Rubber were:
In 2023, Nigeria's main importing competitors in Rubber were:

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Trade Value of Rubber by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $9.17M
TOP IMPORT POTENTIALCote d'Ivoire+ $1.01M

Rubber’s highest export potential is China. With an export gap of $9.17M.   Rubber’s highest import potential is Cote d'Ivoire with an import gap of $1.01M.

See methodology.

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