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2022
Exports $811kWorld Rnk 48 / 104
Flag Rnk 208 / 1077
2022
Destination $218k India
2021 - 2022
FASTEST GROWING MARKET $218kNetherlands
2022
PRODUCT COMPLEXITY IN Stainless Steel Ingots1.08Rnk 143 / 1025
2022
Imports $52.1kWorld Rnk 97 / 180
Flag Rnk 1069 / 1182
2022
Origin $21.6k United Arab Emirates
2021 - 2022
FASTEST GROWING ORIGIN $21.6kUnited Arab Emirates
2022
ECONOMIC COMPLEXITY of Nigeria-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $811k in Stainless Steel Ingots, making it the 48th largest exporter of Stainless Steel Ingots in the world. At the same year, Stainless Steel Ingots was the 208th most exported product in Nigeria. The main destination of Stainless Steel Ingots exports from Nigeria are: India ($529k), Netherlands ($218k), and Germany ($63.6k).

The fastest growing export markets for Stainless Steel Ingots of Nigeria between 2021 and 2022 were Netherlands ($218k) and Germany ($63.6k).

Imports In 2022, Nigeria imported $52.1k in Stainless Steel Ingots, becoming the 97th largest importer of Stainless Steel Ingots in the world. At the same year, Stainless Steel Ingots was the 1069th most imported product in Nigeria. Nigeria imports Stainless Steel Ingots primarily from: United Arab Emirates ($21.8k), Belgium ($11.6k), China ($6.54k), United States ($5.94k), and India ($3.42k).

The fastest growing import markets in Stainless Steel Ingots for Nigeria between 2021 and 2022 were United Arab Emirates ($21.6k), Belgium ($11.6k), and United States ($2.44k).

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 Stainless Steel Ingots. 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)$811k
IMPORTS (2022)$52.1k
NET TRADE (2022)$758k

In 2022, Nigeria exported $811k in Stainless Steel Ingots. The main destinations of Nigeria exports on Stainless Steel Ingots were India ($529k), Netherlands ($218k), and Germany ($63.6k).

In 2022, Nigeria imported $52.1k in Stainless Steel Ingots, mainly from United Arab Emirates ($21.8k), Belgium ($11.6k), China ($6.54k), United States ($5.94k), and India ($3.42k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Stainless Steel Ingots EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Netherlands$218k (1%)
Germany$63.6k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Stainless Steel Ingots BY Nigeria WERE (2021 - 2022):
India-$193k (-26.8%)
Spain-$116k (-100%)
Niger-$1.47k (-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 Stainless Steel Ingots were:
Indonesia $4.21B
United Kingdom $805M
Sweden $298M
In 2022, Nigeria's main importing competitors in Stainless Steel Ingots were:
China $3.12B
India $641M
Sweden $541M

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Trade Value of Stainless Steel Ingots by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $414k
TOP IMPORT POTENTIALUnited States+ $9.74k

Stainless Steel Ingots’s highest export potential is India. With an export gap of $414k.   Stainless Steel Ingots’s highest import potential is United States with an import gap of $9.74k.

See methodology.

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