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2023
Flag → Flag
Exports $2.29BRnk 10 / 159
2023
Flag → Flag
Top Product $1.64BCrude Petroleum
2023
Flag → Flag
Exports $1.91BRnk 35 / 223
2023
Flag → Flag
Top Product $1.11BRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 11 / 132
2023
Flag  
GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
 GDP$3.38TCURRENT US$
Rnk 6 / 195
2013-2023
Flag
GDP GROWTH21.4%CURRENT US$
Rnk 136 / 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$49,464CURRENT US$
Rnk 26 / 196
2013-2023
Flag
GDP PC GROWTH13.9%CURRENT US$
Rnk 124 / 195

About

Nigeria-United Kingdom Trade: In 2023, Nigeria exported $2.29B to United Kingdom. The main products that Nigeria exported to United Kingdom were Crude Petroleum ($1.64B), Refined Petroleum ($317M), and Petroleum Gas ($261M). Over the past 5 years the exports of Nigeria to United Kingdom have decreased at an annualized rate of 5.9%, from $3.11B in 2018 to $2.29B in 2023.

In 2023, Nigeria did not export any services to United Kingdom.

United Kingdom-Nigeria Trade: In 2023, United Kingdom exported $1.91B to Nigeria. The main products that United Kingdom exported to Nigeria were Refined Petroleum ($1.11B), Light Pure Woven Cotton ($41.8M), and Processed Cereals ($37.3M). Over the past 5 years the exports of United Kingdom to Nigeria have increased at an annualized rate of 2.6%,  from $1.68B in 2018 to $1.91B in 2023.

In 2014, United Kingdom exported services to Nigeria worth $1.07B, with Travel ($610M), Transportation ($392M), and Government services, n.i.e. ($69.2M) being the largest in terms of value.

Comparison: In 2023,  Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B). That same year, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nigeria exported $2.29B to United Kingdom. The main products exported from Nigeria to United Kingdom were Crude Petroleum ($1.64B), Refined Petroleum ($317M), and Petroleum Gas ($261M). During the last 5 years the exports of Nigeria to United Kingdom have decreased at an annualized rate of 5.9%, from $3.11B in 2018 to $2.29B in 2023.

In 2018, United Kingdom exported $1.91B to Nigeria. The main products exported from United Kingdom to Nigeria were Refined Petroleum ($1.11B), Light Pure Woven Cotton ($41.8M), and Processed Cereals ($37.3M). During the last 5 years the exports of United Kingdom to Nigeria have increased at an annualized rate of 2.6%, from $1.68B in 2023 to $1.91B in 2018.

Exports from Nigeria (Flag) to United Kingdom (Flag) (2023)

Exports from United Kingdom (Flag) to Nigeria (Flag) (2023)

Latest Data

Trade between Nigeria (Flag) and United Kingdom (Flag)

Nigeria Exports

United Kingdom Exports

Market Competitiveness

Color
Nigeria
Top DestinationUnited States$6.29B
United Kingdom
Top DestinationUnited States$59.7B

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

In 2023, countries that imported more from Nigeria than United Kingdom included Indonesia ($3.44B), Cote d'Ivoire ($2.4B), and Senegal ($1.02B).

In 2023, countries that imported more from United Kingdom than Nigeria included United States ($59.7B), China ($35.3B), and Germany ($34.6B).

Difference in imports from United Kingdom (Flag) and Nigeria (Flag) (2023)

Comparative Advantage Nigeria - United Kingdom

Flow
Scale

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

During 2023, Nigeria had a large net trade with United Kingdom in the exports of Mineral Products ($2.22B), Chemical Products ($13.2M), and Foodstuffs ($11.4M).

During 2018, United Kingdom had a large net trade with Nigeria in the exports of Mineral Products ($1.11B), Machines ($230M), and Foodstuffs ($106M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria United Kingdom+$1.09BCrude Petroleum
Top Product Potential United Kingdom Nigeria+$127MRefined 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 United Kingdom. This means that a dot/product with the flag of Nigeria indicates it has a comparative advantage over United Kingdom. Similarly, a dot/product with the flag of United Kingdom indicates it has a comparative advantage over Nigeria.

Product Space of Nigeria (Flag) and United Kingdom (Flag) (2023)

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