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2023
Flag → Flag
Exports $165MRnk 41 / 159
2023
Flag → Flag
Top Product $144MCrude Petroleum
2023
Flag → Flag
Exports $8.71MRnk 95 / 183
2023
Flag → Flag
Top Product $3.14MTanned Equine and Bovine Hides
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.23Rnk 51 / 132
2023
Flag  
GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
 GDP$363BCURRENT US$
Rnk 42 / 195
2013-2023
Flag
GDP GROWTH-4.87%CURRENT US$
Rnk 176 / 195
2023
Flag
GDP PC $1,597CURRENT US$
Rnk 164 / 195
2013-2023
Flag
GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195
2023
Flag
GDP PC$6,947CURRENT US$
Rnk 104 / 196
2013-2023
Flag
GDP PC GROWTH-16.1%CURRENT US$
Rnk 173 / 195

About

Nigeria-Colombia Trade: In 2023, Nigeria exported $165M to Colombia. The main products that Nigeria exported to Colombia were Crude Petroleum ($144M), Nitrogenous Fertilizers ($20.7M), and Float Glass ($54.9k). Over the past 5 years the exports of Nigeria to Colombia have increased at an annualized rate of 41.1%, from $29.5M in 2018 to $165M in 2023.

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

Colombia-Nigeria Trade: In 2023, Colombia exported $8.71M to Nigeria. The main products that Colombia exported to Nigeria were Tanned Equine and Bovine Hides ($3.14M), Confectionery Sugar ($1.95M), and Baked Goods ($1.3M). Over the past 5 years the exports of Colombia to Nigeria have decreased at an annualized rate of 5.92%,  from $11.8M in 2018 to $8.71M in 2023.

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

Comparison: In 2023,  Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B). That same year, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nigeria exported $165M to Colombia. The main products exported from Nigeria to Colombia were Crude Petroleum ($144M), Nitrogenous Fertilizers ($20.7M), and Float Glass ($54.9k). During the last 5 years the exports of Nigeria to Colombia have increased at an annualized rate of 41.1%, from $29.5M in 2018 to $165M in 2023.

In 2018, Colombia exported $8.71M to Nigeria. The main products exported from Colombia to Nigeria were Tanned Equine and Bovine Hides ($3.14M), Confectionery Sugar ($1.95M), and Baked Goods ($1.3M). During the last 5 years the exports of Colombia to Nigeria have decreased at an annualized rate of 5.92%, from $11.8M in 2023 to $8.71M in 2018.

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

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

Latest Data

Trade between Nigeria (Flag) and Colombia (Flag)

Colombia Exports

Market Competitiveness

Color
Nigeria
Top DestinationUnited States$6.29B
Colombia
Top DestinationUnited States$14.8B

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

In 2023, countries that imported more from Nigeria than Colombia included Spain ($5.76B), France ($4.76B), and Indonesia ($3.44B).

In 2023, countries that imported more from Colombia than Nigeria included United States ($14.8B), Panama ($4.66B), and Ecuador ($2.19B).

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

Comparative Advantage Nigeria - Colombia

Flow
Scale

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

During 2023, Nigeria had a large net trade with Colombia in the exports of Mineral Products ($144M), Chemical Products ($20.7M), and Footwear and Headwear ($58.3k).

During 2018, Colombia had a large net trade with Nigeria in the exports of Animal Hides ($3.78M), Foodstuffs ($3.25M), and Vegetable Products ($717k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Colombia+$13.7MPetroleum Gas
Top Product Potential Colombia Nigeria+$848kConfectionery Sugar

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

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

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