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2023
Flag → Flag
Exports $1.26BRnk 16 / 159
2023
Flag → Flag
Top Product $703MCrude Petroleum
2023
Flag → Flag
Exports $59.2MRnk 68 / 211
2023
Flag → Flag
Top Product $8.94MUncoated Paper
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
Flag  
GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
 GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
Flag
GDP GROWTH27.5%CURRENT US$
Rnk 119 / 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$27,331CURRENT US$
Rnk 50 / 196
2013-2023
Flag
GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195

About

Nigeria-Portugal Trade: In 2023, Nigeria exported $1.26B to Portugal. The main products that Nigeria exported to Portugal were Crude Petroleum ($703M), Petroleum Gas ($508M), and Refined Petroleum ($32.9M). Over the past 5 years the exports of Nigeria to Portugal have increased at an annualized rate of 40.8%, from $228M in 2018 to $1.26B in 2023.

In 2023, Nigeria did not export any services to Portugal.

Portugal-Nigeria Trade: In 2023, Portugal exported $59.2M to Nigeria. The main products that Portugal exported to Nigeria were Uncoated Paper ($8.94M), Malt ($8.7M), and Packaged Medicaments ($3.98M). Over the past 5 years the exports of Portugal to Nigeria have increased at an annualized rate of 9.93%,  from $36.9M in 2018 to $59.2M in 2023.

In 2020, Portugal exported services to Nigeria worth $1.14M, with Travel ($1.14M) 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, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nigeria exported $1.26B to Portugal. The main products exported from Nigeria to Portugal were Crude Petroleum ($703M), Petroleum Gas ($508M), and Refined Petroleum ($32.9M). During the last 5 years the exports of Nigeria to Portugal have increased at an annualized rate of 40.8%, from $228M in 2018 to $1.26B in 2023.

In 2018, Portugal exported $59.2M to Nigeria. The main products exported from Portugal to Nigeria were Uncoated Paper ($8.94M), Malt ($8.7M), and Packaged Medicaments ($3.98M). During the last 5 years the exports of Portugal to Nigeria have increased at an annualized rate of 9.93%, from $36.9M in 2023 to $59.2M in 2018.

Exports from Nigeria (Flag) to Portugal (Flag) (2023)

Exports from Portugal (Flag) to Nigeria (Flag) (2023)

Latest Data

Trade between Nigeria (Flag) and Portugal (Flag)

Nigeria Exports

Portugal Exports

Market Competitiveness

Color
Nigeria
Top DestinationUnited States$6.29B
Portugal
Top DestinationSpain$17.7B

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 2023, countries that imported more from Nigeria than Portugal included India ($3.64B), Indonesia ($3.44B), and Cote d'Ivoire ($2.4B).

In 2023, countries that imported more from Portugal than Nigeria included Spain ($17.7B), Germany ($8.12B), and France ($9.19B).

Difference in imports from Portugal (Flag) and Nigeria (Flag) (2023)

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 2023, Nigeria had a large net trade with Portugal in the exports of Mineral Products ($1.24B), Wood Products ($10.1M), and Textiles ($3.62M).

During 2018, Portugal had a large net trade with Nigeria in the exports of Machines ($12.2M), Paper Goods ($9.76M), and Vegetable Products ($8.73M).

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) (2023)

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