Nigeria-Italy Trade: In 2022, Nigeria exported $1.53B to Italy. The main products that Nigeria exported to Italy were Crude Petroleum ($1.4B), Tanned Sheep Hides ($26.7M), and Precious Metal Scraps ($21.4M). 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).