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Pricing

2023
Flag → Flag
Exports $93.6MRnk 49 / 159
2023
Flag → Flag
Top Product $66.4MCrude Petroleum
2023
Flag → Flag
Exports $1.46BRnk 32 / 182
2023
Flag → Flag
Top Product $1.18BRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.76Rnk 36 / 132
2023
Flag  
GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
 GDP$1.07TCURRENT US$
Rnk 19 / 195
2013-2023
Flag
GDP GROWTH41.6%CURRENT US$
Rnk 90 / 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$32,094CURRENT US$
Rnk 44 / 196
2013-2023
Flag
GDP PC GROWTH17.6%CURRENT US$
Rnk 109 / 195

About

Nigeria-Saudi Arabia Trade: In 2023, Nigeria exported $93.6M to Saudi Arabia. The main products that Nigeria exported to Saudi Arabia were Crude Petroleum ($66.4M), Scrap Aluminium ($7.87M), and Wood Charcoal ($4.62M). Over the past 5 years the exports of Nigeria to Saudi Arabia have increased at an annualized rate of 52.7%, from $11.3M in 2018 to $93.6M in 2023.

In 2023, Nigeria did not export any services to Saudi Arabia.

Saudi Arabia-Nigeria Trade: In 2023, Saudi Arabia exported $1.46B to Nigeria. The main products that Saudi Arabia exported to Nigeria were Refined Petroleum ($1.18B), Propylene Polymers ($145M), and Ethylene Polymers ($66.4M). Over the past 5 years the exports of Saudi Arabia to Nigeria have increased at an annualized rate of 35%,  from $326M in 2018 to $1.46B in 2023.

In 2023, Saudi Arabia did not export any services to Nigeria.

Comparison: In 2023,  Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B). That same year, Saudi Arabia ranked 36 in the Economic Complexity Index (ECI 0.76), and 26 in total exports ($300B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nigeria exported $93.6M to Saudi Arabia. The main products exported from Nigeria to Saudi Arabia were Crude Petroleum ($66.4M), Scrap Aluminium ($7.87M), and Wood Charcoal ($4.62M). During the last 5 years the exports of Nigeria to Saudi Arabia have increased at an annualized rate of 52.7%, from $11.3M in 2018 to $93.6M in 2023.

In 2018, Saudi Arabia exported $1.46B to Nigeria. The main products exported from Saudi Arabia to Nigeria were Refined Petroleum ($1.18B), Propylene Polymers ($145M), and Ethylene Polymers ($66.4M). During the last 5 years the exports of Saudi Arabia to Nigeria have increased at an annualized rate of 35%, from $326M in 2023 to $1.46B in 2018.

Exports from Nigeria (Flag) to Saudi Arabia (Flag) (2023)

Exports from Saudi Arabia (Flag) to Nigeria (Flag) (2023)

Latest Data

Trade between Nigeria (Flag) and Saudi Arabia (Flag)

Nigeria Exports

Saudi Arabia Exports

Market Competitiveness

Color
Nigeria
Top DestinationUnited States$6.29B
Saudi Arabia
Top DestinationChina$64.4B

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

In 2023, countries that imported more from Nigeria than Saudi Arabia included Cote d'Ivoire ($2.4B), Spain ($5.76B), and Senegal ($1.02B).

In 2023, countries that imported more from Saudi Arabia than Nigeria included China ($64.4B), Japan ($34.7B), and India ($34.8B).

Difference in imports from Saudi Arabia (Flag) and Nigeria (Flag) (2023)

Comparative Advantage Nigeria - Saudi Arabia

Flow
Scale

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

During 2023, Nigeria had a large net trade with Saudi Arabia in the exports of Mineral Products ($66.4M), Metals ($14.3M), and Vegetable Products ($6.84M).

During 2018, Saudi Arabia had a large net trade with Nigeria in the exports of Mineral Products ($1.18B), Plastics and Rubbers ($231M), and Chemical Products ($22.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Saudi Arabia+$8.42MRaw Aluminium
Top Product Potential Saudi Arabia Nigeria+$256MRefined 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 Saudi Arabia. This means that a dot/product with the flag of Nigeria indicates it has a comparative advantage over Saudi Arabia. Similarly, a dot/product with the flag of Saudi Arabia indicates it has a comparative advantage over Nigeria.

Product Space of Nigeria (Flag) and Saudi Arabia (Flag) (2023)

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