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Pricing

2022
Flag → Flag
Exports $376MRnk 73 / 218
2022
Flag → Flag
Top Product $37.6MAlkylbenzenes and Alkylnaphthalenes
2022
Flag → Flag
Exports $9.41BRnk 1 / 166
2022
Flag → Flag
Top Product $6.72BCrude Petroleum
2022
Flag
Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag  
GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
Flag
GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
Flag
 GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
GDP PC $29,350CURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186
2022
Flag
GDP PC$2,184CURRENT US$
Rnk 146 / 186
2012-2022
Flag
GDP PC GROWTH-19.9%CURRENT US$
Rnk 173 / 186

About

Spain-Nigeria Trade: In 2022, Spain exported $376M to Nigeria. The main products that Spain exported to Nigeria were Alkylbenzenes and Alkylnaphthalenes ($37.6M), Unglazed Ceramics ($32.3M), and Refined Petroleum ($20.4M). Over the past 5 years the exports of Spain to Nigeria have decreased at an annualized rate of 0.047%, from $377M in 2017 to $376M in 2022.

In 2022, Spain did not export any services to Nigeria.

Nigeria-Spain Trade: In 2022, Nigeria exported $9.41B to Spain. The main products that Nigeria exported to Spain were Crude Petroleum ($6.72B), Petroleum Gas ($2.54B), and Tanned Sheep Hides ($26.4M). Over the past 5 years the exports of Nigeria to Spain have increased at an annualized rate of 13.4%,  from $5.02B in 2017 to $9.41B in 2022.

In 2022, Nigeria did not export any services to Spain.

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B).

Latest Trends

September, 2024

About

Overview In September 2024, Spain exported €27.6M and imported €277M from Nigeria, resulting in a negative trade balance of €249M. Between September 2023 and September 2024 the exports of Spain have increased by €8.25M (42.6%) from €19.3M to €27.6M, while imports decreased by €-455M (-62.2%) from €732M to €277M.

Trade In September 2024, the top exports of Spain to Nigeria were Commodities not elsewhere specified (€10.9M), Phosphatic Fertilizers (€3.99M), Carbonates (€3.16M), Unglazed Ceramics (€1.39M), and Lifting Machinery (€1.32M). In September 2024 the top imports of Spain from Nigeria were Petroleum Gas (€358M), Crude Petroleum (€314M), Rubber (€1.91M), Tanned Sheep Hides (€1.64M), and Leather further prepared after tanning or... (€1.24M).

Origins In September 2024 the exports of Spain were mainly from Barcelona (€6.19M), Madrid (€3.68M), Cádiz (€3.01M), Murcia (€2.51M), and Tarragona (€2.25M), while imports destinations were mainly Cádiz (€74.8M), Huelva (€74.2M), Vizcaya (€54.7M), and Madrid (€20.8M).

Growth In September 2024, the increase in Spain's year-by-year exports to Nigeria was explained primarily by an increase in product exports in Commodities not elsewhere specified (€5.5M or 101%), Carbonates (€1.3M or 69.4%), and Lifting Machinery (€1.1M or 503%). In September 2024, the decrease in Spain's year-by-year imports  from Nigeria was explained primarily by an decrease in product imports  in Crude Petroleum (€-107M or -25.4%), Tanned Goat Hides (€-138k or -31.4%), and Perfume Plants (€-124k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)€8.25M(42.6%)
IMPORT GROWTH (September 2023 - September 2024)€-455M(-62.2%)
MAIN EXPORTER (September 2024)Barcelona€6.19M

This section shows exports and imports data at subnational level for Spain. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Spain over time.

To check Nigeria and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Nigeria and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $376M to Nigeria. The main products exported from Spain to Nigeria were Alkylbenzenes and Alkylnaphthalenes ($37.6M), Unglazed Ceramics ($32.3M), and Refined Petroleum ($20.4M). During the last 5 years the exports of Spain to Nigeria have decreased at an annualized rate of 0.047%, from $377M in 2017 to $376M in 2022.

In 2017, Nigeria exported $9.41B to Spain. The main products exported from Nigeria to Spain were Crude Petroleum ($6.72B), Petroleum Gas ($2.54B), and Tanned Sheep Hides ($26.4M). During the last 5 years the exports of Nigeria to Spain have increased at an annualized rate of 13.4%, from $5.02B in 2022 to $9.41B in 2017.

Exports from Spain (Flag) to Nigeria (Flag) (2022)

Exports from Nigeria (Flag) to Spain (Flag) (2022)

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Nigeria
Top DestinationSpain$9.41B

This map shows whether countries import more from Spain or Nigeria. Each country is colored based on the difference in imports they receive from Spain and Nigeria or the difference in the growth in imports.

In 2022, countries that imported more from Spain than Nigeria included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

In 2022, countries that imported more from Nigeria than Spain included India ($8.2B), Indonesia ($3.83B), and Cote d'Ivoire ($1.97B).

Difference in imports from Nigeria (Flag) and Spain (Flag) (2022)

Comparative Advantage Spain - Nigeria

Flow
Scale

This chart compares trade between Spain and Nigeria by product, considering products traded by both, Spain and Nigeria.

During 2022, Spain had a large net trade with Nigeria in the exports of Chemical Products ($94.1M), Foodstuffs ($49.1M), and Machines ($46.9M).

During 2017, Nigeria had a large net trade with Spain in the exports of Mineral Products ($9.26B), Animal Hides ($38.8M), and Plastics and Rubbers ($35.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Nigeria+$54.3MRefined Petroleum
Top Product Potential Nigeria Spain+$1.37BPetroleum Gas

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Spain and Nigeria. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Spain.

Product Space of Spain (Flag) and Nigeria (Flag) (2022)

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