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2023
Flag → Flag
Exports $4.06BRnk 29 / 220
2023
Flag → Flag
Top Product $1.33BRefined Petroleum
2023
Flag → Flag
Exports $3.64BRnk 5 / 159
2023
Flag → Flag
Top Product $2.81BCrude Petroleum
2023
Flag
Economic Complexity (ECI) ECI 0.65Rnk 39 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
Flag
GDP GROWTH92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
 GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
GDP PC $2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH73.1%CURRENT US$
Rnk 22 / 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

India-Nigeria Trade: In 2023, India exported $4.06B to Nigeria. The main products that India exported to Nigeria were Refined Petroleum ($1.33B), Packaged Medicaments ($345M), and Motorcycles and cycles ($232M). Over the past 5 years the exports of India to Nigeria have increased at an annualized rate of 6.8%, from $2.92B in 2018 to $4.06B in 2023.

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

Nigeria-India Trade: In 2023, Nigeria exported $3.64B to India. The main products that Nigeria exported to India were Crude Petroleum ($2.81B), Petroleum Gas ($415M), and Soybeans ($126M). Over the past 5 years the exports of Nigeria to India have decreased at an annualized rate of 20.1%,  from $11.2B in 2018 to $3.64B in 2023.

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

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). That same year, Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B).

Latest Trends

November, 2024

About

Overview In November 2024, India exported $270M and imported $557M from Nigeria, resulting in a negative trade balance of $287M. Between November 2023 and November 2024 the exports of India have increased by $72.5M (36.7%) from $198M to $270M, while imports increased by $545M (4.57k%) from $11.9M to $557M.

Trade In November 2024, the top exports of India to Nigeria were Petroleum Products ($160M), Drug Formulations, Biologicals ($26M), Two And Three Wheelers ($17.7M), Indl. Machnry For Dairy Etc ($15.4M), and Cotton Fabrics, Madeups Etc. ($12.1M). In November 2024 the top imports of India from Nigeria were Petroleum: Crude ($173M), Fertilezers Manufactured ($54.3M), Aluminium, Products Of Aluminm ($1.44M), Natural Rubber ($1.24M), and Lead And Products Made Of Led ($873k).

Growth In November 2024, the increase in India's year-by-year exports to Nigeria was explained primarily by an increase in product exports in Petroleum Products ($63.4M or 66%), Tobacco Unmanufactured ($4.36M or 114%), and Medical And Scientific Instrum ($4.18M or 225%). In November 2024, the increase in India's year-by-year imports  from Nigeria was explained primarily by an increase in product imports  in Fertilezers Manufactured ($6.76M or 14.2%), Aluminium, Products Of Aluminm ($1.23M or 577%), and Other Commodities ($587k or 648%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)$72.5M(36.7%)
IMPORT GROWTH (November 2023 - November 2024)$545M(4.57k%)

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

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

For full datasets download visit Bulk Download page.

Explore Nigeria and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, India exported $4.06B to Nigeria. The main products exported from India to Nigeria were Refined Petroleum ($1.33B), Packaged Medicaments ($345M), and Motorcycles and cycles ($232M). During the last 5 years the exports of India to Nigeria have increased at an annualized rate of 6.8%, from $2.92B in 2018 to $4.06B in 2023.

In 2018, Nigeria exported $3.64B to India. The main products exported from Nigeria to India were Crude Petroleum ($2.81B), Petroleum Gas ($415M), and Soybeans ($126M). During the last 5 years the exports of Nigeria to India have decreased at an annualized rate of 20.1%, from $11.2B in 2023 to $3.64B in 2018.

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

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

Market Competitiveness

Color
India
Top DestinationUnited States$85.5B
Nigeria
Top DestinationUnited States$6.29B

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

In 2023, countries that imported more from India than Nigeria included United States ($85.5B), United Arab Emirates ($28.8B), and China ($18.1B).

In 2023, countries that imported more from Nigeria than India included Cote d'Ivoire ($2.4B), Uruguay ($534M), and Portugal ($1.26B).

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

Comparative Advantage India - Nigeria

Flow
Scale

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

During 2023, India had a large net trade with Nigeria in the exports of Mineral Products ($1.37B), Chemical Products ($794M), and Machines ($694M).

During 2018, Nigeria had a large net trade with India in the exports of Mineral Products ($3.22B), Vegetable Products ($276M), and Chemical Products ($57.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Nigeria+$975MRefined Petroleum
Top Product Potential Nigeria India+$3.77BCrude 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 India and Nigeria. This means that a dot/product with the flag of India indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over India.

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

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