2022
Exports
$4.43kWorld Rnk 123 / 175
Flag Rnk 792 / 1077
2022
PRODUCT COMPLEXITY IN Sound Recording Equipment
0.32Rnk 439 / 1025
2022
Imports
$7.08MWorld Rnk 52 / 209
Flag Rnk 521 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $4.43k in Sound Recording Equipment, making it the 123rd largest exporter of Sound Recording Equipment in the world. At the same year, Sound Recording Equipment was the 792nd most exported product in Nigeria. The main destination of Sound Recording Equipment exports from Nigeria are: Kenya ($1.31k), Niger ($791), Angola ($653), South Africa ($576), and Sao Tome and Principe ($456).

The fastest growing export markets for Sound Recording Equipment of Nigeria between 2021 and 2022 were Sao Tome and Principe ($456), Angola ($444), and Benin ($265).

Imports In 2022, Nigeria imported $7.08M in Sound Recording Equipment, becoming the 52nd largest importer of Sound Recording Equipment in the world. At the same year, Sound Recording Equipment was the 521st most imported product in Nigeria. Nigeria imports Sound Recording Equipment primarily from: China ($5.18M), Indonesia ($934k), South Korea ($226k), United Arab Emirates ($149k), and Italy ($100k).

The fastest growing import markets in Sound Recording Equipment for Nigeria between 2021 and 2022 were United Arab Emirates ($96.5k), Italy ($81.1k), and Hong Kong ($43.6k).

Latest Trends

Jul 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 Sound Recording Equipment. 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)$4.43k
IMPORTS (2022)$7.08M
NET TRADE (2022)-$7.07M

In 2022, Nigeria exported $4.43k in Sound Recording Equipment. The main destinations of Nigeria exports on Sound Recording Equipment were Kenya ($1.31k), Niger ($791), Angola ($653), South Africa ($576), and Sao Tome and Principe ($456).

In 2022, Nigeria imported $7.08M in Sound Recording Equipment, mainly from China ($5.18M), Indonesia ($934k), South Korea ($226k), United Arab Emirates ($149k), and Italy ($100k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Sound Recording Equipment EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Angola$444 (212%)
Benin$265 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Sound Recording Equipment BY Nigeria WERE (2021 - 2022):
United Kingdom-$3.24k (-100%)
France-$3.07k (-100%)
United States-$2.42k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Sound Recording Equipment were:
In 2022, Nigeria's main importing competitors in Sound Recording Equipment were:

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Trade Value of Sound Recording Equipment by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALSouth Africa+ $1.09k
TOP IMPORT POTENTIALChina+ $1.58M

Sound Recording Equipment’s highest export potential is South Africa. With an export gap of $1.09k.   Sound Recording Equipment’s highest import potential is China with an import gap of $1.58M.

See methodology.

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