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2023
Flag → Flag
Exports $46.9MRnk 79 / 206
2023
Flag → Flag
Top Product $20.1MElectric Generating Sets
2023
Flag → Flag
Exports $1.65MRnk 102 / 159
2023
Flag → Flag
Top Product $656kNitrogenous Fertilizers
2023
Flag
Economic Complexity (ECI) ECI 1.46Rnk 13 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$296BCURRENT US$
Rnk 47 / 195
2013-2023
Flag
GDP GROWTH9.35%CURRENT US$
Rnk 158 / 195
2023
Flag
 GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
GDP PC $52,926CURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP PC GROWTH6.51%CURRENT US$
Rnk 144 / 195
2023
Flag
GDP PC$1,597CURRENT US$
Rnk 164 / 196
2013-2023
Flag
GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195

About

Finland-Nigeria Trade: In 2023, Finland exported $46.9M to Nigeria. The main products that Finland exported to Nigeria were Electric Generating Sets ($20.1M), Kaolin Coated Paper ($8.38M), and Kraft Paper ($2.29M). Over the past 5 years the exports of Finland to Nigeria have decreased at an annualized rate of 7.29%, from $68.5M in 2018 to $46.9M in 2023.

In 2019, Finland exported services to Nigeria worth $1.12M, with Other business services ($1.12M) being the largest in terms of value.

Nigeria-Finland Trade: In 2023, Nigeria exported $1.65M to Finland. The main products that Nigeria exported to Finland were Nitrogenous Fertilizers ($656k), Rubber ($402k), and Other Oily Seeds ($232k). Over the past 5 years the exports of Nigeria to Finland have increased at an annualized rate of 9.91%,  from $582k in 2018 to $1.65M in 2023.

In 2023, Nigeria did not export any services to Finland.

Comparison: In 2023,  Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B). That same year, Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Finland exported $46.9M to Nigeria. The main products exported from Finland to Nigeria were Electric Generating Sets ($20.1M), Kaolin Coated Paper ($8.38M), and Kraft Paper ($2.29M). During the last 5 years the exports of Finland to Nigeria have decreased at an annualized rate of 7.29%, from $68.5M in 2018 to $46.9M in 2023.

In 2018, Nigeria exported $1.65M to Finland. The main products exported from Nigeria to Finland were Nitrogenous Fertilizers ($656k), Rubber ($402k), and Other Oily Seeds ($232k). During the last 5 years the exports of Nigeria to Finland have increased at an annualized rate of 9.91%, from $582k in 2023 to $1.65M in 2018.

Exports from Finland (Flag) to Nigeria (Flag) (2023)

Exports from Nigeria (Flag) to Finland (Flag) (2023)

Latest Data

Trade between Finland (Flag) and Nigeria (Flag)

Finland Exports

Nigeria Exports

Date

Market Competitiveness

Color
Finland
Top DestinationUnited States$9.68B
Nigeria
Top DestinationUnited States$6.29B

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

In 2023, countries that imported more from Finland than Nigeria included Sweden ($8.13B), Germany ($9.26B), and United States ($9.68B).

In 2023, countries that imported more from Nigeria than Finland included Spain ($5.76B), Indonesia ($3.44B), and India ($3.64B).

Difference in imports from Nigeria (Flag) and Finland (Flag) (2023)

Comparative Advantage Finland - Nigeria

Flow
Scale

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

During 2023, Finland had a large net trade with Nigeria in the exports of Machines ($27.4M), Paper Goods ($11.8M), and Plastics and Rubbers ($2.28M).

During 2018, Nigeria had a large net trade with Finland in the exports of Chemical Products ($668k), Plastics and Rubbers ($404k), and Vegetable Products ($377k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Finland Nigeria+$48.7MRefined Petroleum
Top Product Potential Nigeria Finland+$449kRubber

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 Finland and Nigeria. This means that a dot/product with the flag of Finland indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Finland.

Product Space of Finland (Flag) and Nigeria (Flag) (2023)

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