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2023
Flag → Flag
Exports $610MRnk 44 / 221
2023
Flag → Flag
Top Product $299MPalm Oil
2023
Flag → Flag
Exports $418MRnk 30 / 159
2023
Flag → Flag
Top Product $222MCocoa Beans
2023
Flag
Economic Complexity (ECI) ECI 1.04Rnk 27 / 132
2023
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Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$400BCURRENT US$
Rnk 37 / 195
2013-2023
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GDP GROWTH23.6%CURRENT US$
Rnk 130 / 195
2023
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 GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
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GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
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GDP PC $11,379CURRENT US$
Rnk 85 / 195
2013-2023
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GDP PC GROWTH6.21%CURRENT US$
Rnk 145 / 195
2023
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GDP PC$1,597CURRENT US$
Rnk 164 / 196
2013-2023
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GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195

About

Malaysia-Nigeria Trade: In 2023, Malaysia exported $610M to Nigeria. The main products that Malaysia exported to Nigeria were Palm Oil ($299M), Refined Petroleum ($73.4M), and Malt Extract ($60M). Over the past 5 years the exports of Malaysia to Nigeria have increased at an annualized rate of 0.34%, from $599M in 2018 to $610M in 2023.

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

Nigeria-Malaysia Trade: In 2023, Nigeria exported $418M to Malaysia. The main products that Nigeria exported to Malaysia were Cocoa Beans ($222M), Tin Ores ($58.3M), and Crude Petroleum ($37.6M). Over the past 5 years the exports of Nigeria to Malaysia have increased at an annualized rate of 8.51%,  from $278M in 2018 to $418M in 2023.

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

Comparison: In 2023,  Malaysia ranked 27 in the Economic Complexity Index (ECI 1.04), and 19 in total exports ($383B). 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, Malaysia exported MYR259M and imported MYR461M from Nigeria, resulting in a negative trade balance of MYR202M. Between November 2023 and November 2024 the exports of Malaysia have increased by MYR120M (86.3%) from MYR139M to MYR259M, while imports increased by MYR323M (234%) from MYR138M to MYR461M.

Trade In November 2024, the top exports of Malaysia to Nigeria were Palm Oil (MYR69M), Organo-Sulfur Compounds (MYR5.54M), Soap (MYR3.87M), Recreational Boats (MYR3.62M), and Other Printed Material (MYR2.29M). In November 2024 the top imports of Malaysia from Nigeria were Cocoa Beans (MYR34.3M), Tin Ores (MYR13.8M), Other Pure Vegetable Oils (MYR3.58M), Aluminium Powder (MYR2.13M), and Niobium, Tantalum, Vanadium and Zirconium Ore (MYR1.65M).

Growth In November 2024, the increase in Malaysia's year-by-year exports to Nigeria was explained primarily by an increase in product exports in Palm Oil (MYR67M or 3.39k%), Organo-Sulfur Compounds (MYR4.11M or 286%), and Beauty Products (MYR455k or 202%). In November 2024, the increase in Malaysia's year-by-year imports  from Nigeria was explained primarily by an increase in product imports  in Polyacetals (MYR79.2k or 72.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)MYR120M(86.3%)
IMPORT GROWTH (November 2023 - November 2024)MYR323M(234%)

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

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

For full datasets download visit Bulk Download page.

Explore Nigeria and Malaysia Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Malaysia exported $610M to Nigeria. The main products exported from Malaysia to Nigeria were Palm Oil ($299M), Refined Petroleum ($73.4M), and Malt Extract ($60M). During the last 5 years the exports of Malaysia to Nigeria have increased at an annualized rate of 0.34%, from $599M in 2018 to $610M in 2023.

In 2018, Nigeria exported $418M to Malaysia. The main products exported from Nigeria to Malaysia were Cocoa Beans ($222M), Tin Ores ($58.3M), and Crude Petroleum ($37.6M). During the last 5 years the exports of Nigeria to Malaysia have increased at an annualized rate of 8.51%, from $278M in 2023 to $418M in 2018.

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

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

Market Competitiveness

Color
Malaysia
Top DestinationChina$79.8B
Nigeria
Top DestinationUnited States$6.29B

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

In 2023, countries that imported more from Malaysia than Nigeria included China ($79.8B), Singapore ($47.3B), and United States ($44.9B).

In 2023, countries that imported more from Nigeria than Malaysia included Spain ($5.76B), France ($4.76B), and Cote d'Ivoire ($2.4B).

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

Comparative Advantage Malaysia - Nigeria

Flow
Scale

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

During 2023, Malaysia had a large net trade with Nigeria in the exports of Animal and Vegetable Bi-Products ($325M), Mineral Products ($74.4M), and Foodstuffs ($64.7M).

During 2018, Nigeria had a large net trade with Malaysia in the exports of Foodstuffs ($227M), Mineral Products ($138M), and Transportation ($24.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Malaysia Nigeria+$102MRefined Petroleum
Top Product Potential Nigeria Malaysia+$251MCrude 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 Malaysia and Nigeria. This means that a dot/product with the flag of Malaysia indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Malaysia.

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

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