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2023
Flag → Flag
Exports $158kRnk 131 / 159
2023
Flag → Flag
Top Product $158kCut Flowers
2023
Flag → Flag
Exports $804kRnk 63 / 122
2023
Flag → Flag
Top Product $378kDried Legumes
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag  
GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
GDP PC $1,597CURRENT US$
Rnk 164 / 195
2013-2023
Flag
GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195

About

Nigeria-Venezuela Trade: In 2023, Nigeria exported $158k to Venezuela. The main products that Nigeria exported to Venezuela were Cut Flowers ($158k). Over the past 10 years the exports of Nigeria to Venezuela have increased at an annualized rate of 135%, from $31 in 2013 to $158k in 2023.

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

Venezuela-Nigeria Trade: In 2023, Venezuela exported $804k to Nigeria. The main products that Venezuela exported to Nigeria were Dried Legumes ($378k), Tanned Equine and Bovine Hides ($236k), and Animal Food ($77.3k). Over the past 10 years the exports of Venezuela to Nigeria have increased at an annualized rate of 36.8%,  from $168k in 2013 to $804k in 2023.

In 2023, Venezuela 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, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nigeria exported $158k to Venezuela. The main products exported from Nigeria to Venezuela were Cut Flowers ($158k). During the last 10 years the exports of Nigeria to Venezuela have increased at an annualized rate of 135%, from $31 in 2013 to $158k in 2023.

In 2018, Venezuela exported $804k to Nigeria. The main products exported from Venezuela to Nigeria were Dried Legumes ($378k), Tanned Equine and Bovine Hides ($236k), and Animal Food ($77.3k). During the last 5 years the exports of Venezuela to Nigeria have increased at an annualized rate of 36.8%, from $168k in 2023 to $804k in 2018.

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

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

Latest Data

Trade between Nigeria (Flag) and Venezuela (Flag)

Nigeria Exports

Date

Market Competitiveness

Color
Nigeria
Top DestinationUnited States$6.29B
Venezuela
Top DestinationUnited States$3.81B

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

In 2023, countries that imported more from Nigeria than Venezuela included Spain ($5.76B), France ($4.76B), and Netherlands ($4.35B).

In 2023, countries that imported more from Venezuela than Nigeria included Lebanon ($106M), Guatemala ($50.2M), and Ecuador ($41.5M).

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

Comparative Advantage Nigeria - Venezuela

Flow
Scale

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

During 2023, Nigeria had a large net trade with Venezuela in the exports of Vegetable Products ($158k).

During 2018, Venezuela had a large net trade with Nigeria in the exports of Vegetable Products ($378k), Animal Hides ($236k), and Foodstuffs ($77.3k).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Nigeria and Venezuela. This means that a dot/product with the flag of Nigeria indicates it has a comparative advantage over Venezuela. Similarly, a dot/product with the flag of Venezuela indicates it has a comparative advantage over Nigeria.

Product Space of Nigeria (Flag) and Venezuela (Flag) (2023)

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