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Pricing

2022
Flag → Flag
Exports $69.3MRnk 16 / 160
2022
Flag → Flag
Top Product $66.8MDried/Salted/Smoked/Brined Fish
2022
Flag → Flag
Exports $23.9kRnk 150 / 166
2022
Flag → Flag
Top Product $7.72kSawn Wood
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag  
GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
 GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
GDP PC $72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 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

Iceland-Nigeria Trade: In 2022, Iceland exported $69.3M to Nigeria. The main products that Iceland exported to Nigeria were Dried/Salted/Smoked/Brined Fish ($66.8M), Animal Food ($788k), and Other Inedible Animal Products ($497k). Over the past 5 years the exports of Iceland to Nigeria have increased at an annualized rate of 5.7%, from $52.5M in 2017 to $69.3M in 2022.

In 2019, Iceland exported services to Nigeria worth $112k, with Travel ($112k) being the largest in terms of value.

Nigeria-Iceland Trade: In 2022, Nigeria exported $23.9k to Iceland. The main products that Nigeria exported to Iceland were Sawn Wood ($7.72k), Fake Hair ($2.27k), and Beauty Products ($2.24k). Over the past 5 years the exports of Nigeria to Iceland have decreased at an annualized rate of 63.8%,  from $3.85M in 2017 to $23.9k in 2022.

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

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. 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, Iceland exported $69.3M to Nigeria. The main products exported from Iceland to Nigeria were Dried/Salted/Smoked/Brined Fish ($66.8M), Animal Food ($788k), and Other Inedible Animal Products ($497k). During the last 5 years the exports of Iceland to Nigeria have increased at an annualized rate of 5.7%, from $52.5M in 2017 to $69.3M in 2022.

In 2017, Nigeria exported $23.9k to Iceland. The main products exported from Nigeria to Iceland were Sawn Wood ($7.72k), Fake Hair ($2.27k), and Beauty Products ($2.24k). During the last 5 years the exports of Nigeria to Iceland have decreased at an annualized rate of 63.8%, from $3.85M in 2022 to $23.9k in 2017.

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

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

Latest Data

Trade between Iceland (Flag) and Nigeria (Flag)

Iceland Exports

Nigeria Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Nigeria
Top DestinationSpain$9.41B

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

In 2022, countries that imported more from Iceland than Nigeria included Norway ($459M), Denmark ($257M), and Czechia ($106M).

In 2022, countries that imported more from Nigeria than Iceland included Spain ($9.41B), India ($8.2B), and France ($4.95B).

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

Comparative Advantage Iceland - Nigeria

Flow
Scale

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

During 2022, Iceland had a large net trade with Nigeria in the exports of Animal Products ($67.4M), Foodstuffs ($1.31M), and Machines ($257k).

During 2017, Nigeria had a large net trade with Iceland in the exports of Wood Products ($7.72k), Foodstuffs ($3.32k), and Chemical Products ($3.1k).

Economic Complexity

Competitive Landscape

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

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

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