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Pricing

2022
Flag → Flag
Exports $1.93BRnk 12 / 166
2022
Flag → Flag
Top Product $1.1BCrude Petroleum
2022
Flag → Flag
Exports $39.9MRnk 74 / 208
2022
Flag → Flag
Top Product $6.93MMalt Extract
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
Flag  
GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
 GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
Flag
GDP GROWTH16.5%CURRENT US$
Rnk 132 / 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$24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186

About

Nigeria-Portugal Trade: In 2022, Nigeria exported $1.93B to Portugal. The main products that Nigeria exported to Portugal were Crude Petroleum ($1.1B), Petroleum Gas ($814M), and Wood Charcoal ($4.52M). Over the past 5 years the exports of Nigeria to Portugal have increased at an annualized rate of 90.6%, from $76.5M in 2017 to $1.93B in 2022.

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

Portugal-Nigeria Trade: In 2022, Portugal exported $39.9M to Nigeria. The main products that Portugal exported to Nigeria were Malt Extract ($6.93M), Animal Food ($5.07M), and Stone Processing Machines ($2.07M). Over the past 5 years the exports of Portugal to Nigeria have increased at an annualized rate of 6.49%,  from $29.1M in 2017 to $39.9M in 2022.

In 2020, Portugal exported services to Nigeria worth $1.14M, with Travel ($1.14M) 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, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $1.93B to Portugal. The main products exported from Nigeria to Portugal were Crude Petroleum ($1.1B), Petroleum Gas ($814M), and Wood Charcoal ($4.52M). During the last 5 years the exports of Nigeria to Portugal have increased at an annualized rate of 90.6%, from $76.5M in 2017 to $1.93B in 2022.

In 2017, Portugal exported $39.9M to Nigeria. The main products exported from Portugal to Nigeria were Malt Extract ($6.93M), Animal Food ($5.07M), and Stone Processing Machines ($2.07M). During the last 5 years the exports of Portugal to Nigeria have increased at an annualized rate of 6.49%, from $29.1M in 2022 to $39.9M in 2017.

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

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

Latest Data

Trade between Nigeria (Flag) and Portugal (Flag)

Nigeria Exports

Portugal Exports

Market Competitiveness

Color
Nigeria
Top DestinationSpain$9.41B
Portugal
Top DestinationSpain$20.5B

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

In 2022, countries that imported more from Nigeria than Portugal included India ($8.2B), Indonesia ($3.83B), and South Africa ($2.25B).

In 2022, countries that imported more from Portugal than Nigeria included Spain ($20.5B), Germany ($8.76B), and France ($9.49B).

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

Comparative Advantage Nigeria - Portugal

Flow
Scale

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

During 2022, Nigeria had a large net trade with Portugal in the exports of Mineral Products ($1.91B), Wood Products ($6.4M), and Textiles ($4.31M).

During 2017, Portugal had a large net trade with Nigeria in the exports of Foodstuffs ($14.7M), Machines ($8.51M), and Metals ($3.22M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Portugal+$302MCrude Petroleum
Top Product Potential Portugal Nigeria+$2.99MUncoated Paper

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, Portugal exported services to Nigeria worth $1.14M, with Travel ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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