2022
Flag  
GDP
$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH
13.5%CURRENT US$
Rnk 139 / 186
2022
Flag
 GDP
$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH
2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
GDP PC 
$45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH
7.92%CURRENT US$
Rnk 122 / 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

United Kingdom-Nigeria Trade: In 2022, United Kingdom exported $1.87B to Nigeria. The main products that United Kingdom exported to Nigeria were Refined Petroleum ($923M), Light Pure Woven Cotton ($60.9M), and Acyclic Alcohols ($48.2M). Over the past 5 years the exports of United Kingdom to Nigeria have increased at an annualized rate of 4.07%, from $1.53B in 2017 to $1.87B in 2022.

In 2014, United Kingdom exported services to Nigeria worth $1.07B, with Travel ($610M), Transportation ($392M), and Government services, n.i.e. ($69.2M) being the largest in terms of value.

Nigeria-United Kingdom Trade: In 2022, Nigeria exported $2.06B to United Kingdom. The main products that Nigeria exported to United Kingdom were Crude Petroleum ($1.33B), Refined Petroleum ($446M), and Petroleum Gas ($210M). Over the past 5 years the exports of Nigeria to United Kingdom have increased at an annualized rate of 4.51%,  from $1.65B in 2017 to $2.06B in 2022.

In 2022, Nigeria did not export any services to United Kingdom.

Comparison: In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United Kingdom exported $1.87B to Nigeria. The main products exported from United Kingdom to Nigeria were Refined Petroleum ($923M), Light Pure Woven Cotton ($60.9M), and Acyclic Alcohols ($48.2M). During the last 5 years the exports of United Kingdom to Nigeria have increased at an annualized rate of 4.07%, from $1.53B in 2017 to $1.87B in 2022.

In 2017, Nigeria exported $2.06B to United Kingdom. The main products exported from Nigeria to United Kingdom were Crude Petroleum ($1.33B), Refined Petroleum ($446M), and Petroleum Gas ($210M). During the last 5 years the exports of Nigeria to United Kingdom have increased at an annualized rate of 4.51%, from $1.65B in 2022 to $2.06B in 2017.

Exports from United Kingdom (Flag) to Nigeria (Flag) (2022)

Exports from Nigeria (Flag) to United Kingdom (Flag) (2022)

Market Competitiveness

Color
United Kingdom
Top Destination
United States$61.8B
Nigeria
Top Destination
Spain$9.41B

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

In 2022, countries that imported more from United Kingdom than Nigeria included United States ($61.8B), Germany ($40.6B), and Netherlands ($41.9B).

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

Difference in imports from Nigeria (Flag) and United Kingdom (Flag) (2022)

Comparative Advantage United Kingdom - Nigeria

Flow
Scale

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

During 2022, United Kingdom had a large net trade with Nigeria in the exports of Mineral Products ($925M), Machines ($254M), and Chemical Products ($184M).

During 2017, Nigeria had a large net trade with United Kingdom in the exports of Mineral Products ($1.99B), Metals ($14.2M), and Foodstuffs ($14.2M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom Nigeria+$127MRefined Petroleum
Top Product Potential Nigeria United Kingdom+$1.09BCrude Petroleum

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

Product Space of United Kingdom (Flag) and Nigeria (Flag) (2022)

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