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Pricing

2022
Flag → Flag
Exports $9.41BRnk 1 / 166
2022
Flag → Flag
Top Product $6.72BCrude Petroleum
2022
Flag → Flag
Exports $376MRnk 73 / 218
2022
Flag → Flag
Top Product $37.6MAlkylbenzenes and Alkylnaphthalenes
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
Flag  
GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
 GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 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$29,350CURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186

About

Nigeria-Spain Trade: In 2022, Nigeria exported $9.41B to Spain. The main products that Nigeria exported to Spain were Crude Petroleum ($6.72B), Petroleum Gas ($2.54B), and Tanned Sheep Hides ($26.4M). Over the past 5 years the exports of Nigeria to Spain have increased at an annualized rate of 13.4%, from $5.02B in 2017 to $9.41B in 2022.

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

Spain-Nigeria Trade: In 2022, Spain exported $376M to Nigeria. The main products that Spain exported to Nigeria were Alkylbenzenes and Alkylnaphthalenes ($37.6M), Unglazed Ceramics ($32.3M), and Refined Petroleum ($20.4M). Over the past 5 years the exports of Spain to Nigeria have decreased at an annualized rate of 0.047%,  from $377M in 2017 to $376M in 2022.

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

Comparison: In 2022,  Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $9.41B to Spain. The main products exported from Nigeria to Spain were Crude Petroleum ($6.72B), Petroleum Gas ($2.54B), and Tanned Sheep Hides ($26.4M). During the last 5 years the exports of Nigeria to Spain have increased at an annualized rate of 13.4%, from $5.02B in 2017 to $9.41B in 2022.

In 2017, Spain exported $376M to Nigeria. The main products exported from Spain to Nigeria were Alkylbenzenes and Alkylnaphthalenes ($37.6M), Unglazed Ceramics ($32.3M), and Refined Petroleum ($20.4M). During the last 5 years the exports of Spain to Nigeria have decreased at an annualized rate of 0.047%, from $377M in 2022 to $376M in 2017.

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

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

Latest Data

Trade between Nigeria (Flag) and Spain (Flag)

Nigeria Exports

Spain Exports

Market Competitiveness

Color
Nigeria
Top DestinationSpain$9.41B
Spain
Top DestinationFrance$65.2B

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

In 2022, countries that imported more from Nigeria than Spain included India ($8.2B), Indonesia ($3.83B), and Cote d'Ivoire ($1.97B).

In 2022, countries that imported more from Spain than Nigeria included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

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

Comparative Advantage Nigeria - Spain

Flow
Scale

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

During 2022, Nigeria had a large net trade with Spain in the exports of Mineral Products ($9.26B), Animal Hides ($38.8M), and Plastics and Rubbers ($35.9M).

During 2017, Spain had a large net trade with Nigeria in the exports of Chemical Products ($94.1M), Foodstuffs ($49.1M), and Machines ($46.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Spain+$1.37BPetroleum Gas
Top Product Potential Spain Nigeria+$54.3MRefined 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 Nigeria and Spain. This means that a dot/product with the flag of Nigeria indicates it has a comparative advantage over Spain. Similarly, a dot/product with the flag of Spain indicates it has a comparative advantage over Nigeria.

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

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