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2022
Flag → Flag
Exports $1.53BRnk 14 / 166
2022
Flag → Flag
Exports $832MRnk 69 / 221
2022
Flag → Flag
Top Product $154MRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
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Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
Flag  
GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
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GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
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 GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
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GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
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GDP PC $2,184CURRENT US$
Rnk 146 / 186
2012-2022
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GDP PC GROWTH-19.9%CURRENT US$
Rnk 173 / 186
2022
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GDP PC$34,158CURRENT US$
Rnk 30 / 186
2012-2022
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GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186

About

Nigeria-Italy Trade: In 2022, Nigeria exported $1.53B to Italy. The main products that Nigeria exported to Italy were N/A. Over the past 5 years the exports of Nigeria to Italy have increased at an annualized rate of 13.4%, from $816M in 2017 to $1.53B in 2022.

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

Italy-Nigeria Trade: In 2022, Italy exported $832M to Nigeria. The main products that Italy exported to Nigeria were Refined Petroleum ($154M), Washing and Bottling Machines ($58.6M), and Industrial Food Preperation Machinery ($24.2M). Over the past 5 years the exports of Italy to Nigeria have increased at an annualized rate of 6.53%,  from $606M in 2017 to $832M in 2022.

In 2020, Italy exported services to Nigeria worth $68.9M, with Transportation ($28.6M), Other business services ($19.6M), and Communications services ($9.37M) 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, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $1.53B to Italy. There were not main exports from Nigeria to Italy in 2022. During the last 5 years the exports of Nigeria to Italy have increased at an annualized rate of 13.4%, from $816M in 2017 to $1.53B in 2022.

In 2017, Italy exported $832M to Nigeria. The main products exported from Italy to Nigeria were Refined Petroleum ($154M), Washing and Bottling Machines ($58.6M), and Industrial Food Preperation Machinery ($24.2M). During the last 5 years the exports of Italy to Nigeria have increased at an annualized rate of 6.53%, from $606M in 2022 to $832M in 2017.

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

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

Latest Data

Trade between Nigeria (Flag) and Italy (Flag)

Nigeria Exports

Italy Exports

Market Competitiveness

Color
Nigeria
Top DestinationSpain$9.41B
Italy
Top DestinationGermany$78.5B

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

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

In 2022, countries that imported more from Italy than Nigeria included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

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

Comparative Advantage Nigeria - Italy

Flow
Scale

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

During 2022, Nigeria had a large net trade with Italy in the exports of Mineral Products ($1.42B), Animal Hides ($40M), and Precious Metals ($22.3M).

During 2017, Italy had a large net trade with Nigeria in the exports of Machines ($307M), Mineral Products ($163M), and Chemical Products ($76.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Italy+$879MCrude Petroleum
Top Product Potential Italy Nigeria+$160MRefined 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, Italy exported services to Nigeria worth $68.9M, with Transportation ($28.6M), Other business services ($19.6M), and Communications services ($9.37M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (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 Italy. This means that a dot/product with the flag of Nigeria indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Nigeria.

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

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