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Pricing

2022
Flag → Flag
Exports $8.43MRnk 70 / 166
2022
Flag → Flag
Top Product $4.08MCocoa Beans
2022
Flag → Flag
Exports $47.9MRnk 72 / 206
2022
Flag → Flag
Top Product $24.3MRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.68Rnk 38 / 133
2022
Flag  
GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
 GDP$89BCURRENT US$
Rnk 70 / 186
2012-2022
Flag
GDP GROWTH64%CURRENT US$
Rnk 37 / 186
2022
Flag
GDP PC $2,184CURRENT US$
Rnk 146 / 186
2012-2022
Flag
GDP PC GROWTH-19.9%CURRENT US$
Rnk 173 / 186
2022
Flag
GDP PC$13,772CURRENT US$
Rnk 64 / 186
2012-2022
Flag
GDP PC GROWTH85.3%CURRENT US$
Rnk 13 / 186

About

Nigeria-Bulgaria Trade: In 2022, Nigeria exported $8.43M to Bulgaria. The main products that Nigeria exported to Bulgaria were Cocoa Beans ($4.08M), Polyacetals ($1.52M), and Cocoa Shells ($731k). Over the past 5 years the exports of Nigeria to Bulgaria have increased at an annualized rate of 38.3%, from $1.66M in 2017 to $8.43M in 2022.

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

Bulgaria-Nigeria Trade: In 2022, Bulgaria exported $47.9M to Nigeria. The main products that Bulgaria exported to Nigeria were Refined Petroleum ($24.3M), Explosive Ammunition ($8.7M), and Carbonates ($3.6M). Over the past 5 years the exports of Bulgaria to Nigeria have increased at an annualized rate of 30.5%,  from $12.7M in 2017 to $47.9M in 2022.

In 2020, Bulgaria exported services to Nigeria worth $3.08M, with Other business services ($2.28M), Computer and information services ($457k), and Travel ($343k) being the largest in terms of value.

Comparison: In 2022,  Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B). That same year, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.68), and 60 in total exports ($51.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $8.43M to Bulgaria. The main products exported from Nigeria to Bulgaria were Cocoa Beans ($4.08M), Polyacetals ($1.52M), and Cocoa Shells ($731k). During the last 5 years the exports of Nigeria to Bulgaria have increased at an annualized rate of 38.3%, from $1.66M in 2017 to $8.43M in 2022.

In 2017, Bulgaria exported $47.9M to Nigeria. The main products exported from Bulgaria to Nigeria were Refined Petroleum ($24.3M), Explosive Ammunition ($8.7M), and Carbonates ($3.6M). During the last 5 years the exports of Bulgaria to Nigeria have increased at an annualized rate of 30.5%, from $12.7M in 2022 to $47.9M in 2017.

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

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

Latest Data

Trade between Nigeria (Flag) and Bulgaria (Flag)

Nigeria Exports

Bulgaria Exports

Market Competitiveness

Color
Nigeria
Top DestinationSpain$9.41B
Bulgaria
Top DestinationGermany$6.91B

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

In 2022, countries that imported more from Nigeria than Bulgaria included Spain ($9.41B), India ($8.2B), and Indonesia ($3.83B).

In 2022, countries that imported more from Bulgaria than Nigeria included Romania ($6.55B), Germany ($6.91B), and Greece ($2.93B).

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

Comparative Advantage Nigeria - Bulgaria

Flow
Scale

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

During 2022, Nigeria had a large net trade with Bulgaria in the exports of Foodstuffs ($4.81M), Plastics and Rubbers ($1.67M), and Textiles ($934k).

During 2017, Bulgaria had a large net trade with Nigeria in the exports of Mineral Products ($24.3M), Weapons ($12.2M), and Machines ($4.24M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Bulgaria+$1.17MScrap Copper
Top Product Potential Bulgaria Nigeria+$34.7MRefined 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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Bilateral Service Trade

In 2020, Bulgaria exported services to Nigeria worth $3.08M, with Other business services ($2.28M), Computer and information services ($457k), and Travel ($343k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Bulgaria (Flag) to Nigeria (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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