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Pricing

2022
Flag → Flag
Exports $1.75BRnk 16 / 209
2022
Flag → Flag
Top Product $1.64BRefined Petroleum
2022
Flag → Flag
Exports $3.78MRnk 87 / 166
2022
Flag → Flag
Top Product $1.44MMachinery Having Individual Functions
2022
Flag
Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
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GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC$2,184CURRENT US$
Rnk 146 / 186
2012-2022
Flag
GDP PC GROWTH-19.9%CURRENT US$
Rnk 173 / 186

About

Norway-Nigeria Trade: In 2022, Norway exported $1.75B to Nigeria. The main products that Norway exported to Nigeria were Refined Petroleum ($1.64B), Dried/Salted/Smoked/Brined Fish ($36.9M), and Non-fillet Frozen Fish ($36.2M). Over the past 5 years the exports of Norway to Nigeria have increased at an annualized rate of 43%, from $292M in 2017 to $1.75B in 2022.

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

Nigeria-Norway Trade: In 2022, Nigeria exported $3.78M to Norway. The main products that Nigeria exported to Norway were Machinery Having Individual Functions ($1.44M), Other Oily Seeds ($867k), and Aircraft Parts ($355k). Over the past 5 years the exports of Nigeria to Norway have decreased at an annualized rate of 40.9%,  from $52.5M in 2017 to $3.78M in 2022.

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

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B).

Latest Trends

October, 2024

About

Overview In October 2024, Norway exported NOK1.38B and imported NOK528M from Nigeria, resulting in a positive trade balance of NOK852M. Between October 2023 and October 2024 the exports of Norway have decreased by NOK-216M (-13.5%) from NOK1.6B to NOK1.38B, while imports increased by NOK526M (29.1k%) from NOK1.81M to NOK528M.

Trade In October 2024, the top exports of Norway to Nigeria were Petroleum, petroleum products and related materials (NOK301M), Fish (not marine mammals), crustaceans, molluscs... (NOK34.1M), Animal oils and fats (NOK5.76M), General industrial machinery and equipment, n.e.s.,... (NOK5.35M), and Machinery specialized for particular industries (NOK4.67M). In October 2024 the top imports of Norway from Nigeria were General industrial machinery and equipment, n.e.s.,... (NOK514k), Coffee, tea, cocoa, spices, and manufactures... (NOK36k), Vegetables and fruit (NOK31k), Rubber manufactures, n.e.s. (NOK21k), and Articles of apparel and clothing accessories (NOK6k).

Growth In October 2024, the decrease in Norway's year-by-year exports to Nigeria was explained primarily by an decrease in product exports in Petroleum, petroleum products and related materials (NOK-324M or -51.8%), Manufactures of metals, n.e.s. (NOK-16.6M or -95.6%), and Paper, paperboard and articles of paper... (NOK-778k or -35.2%). In October 2024, the increase in Norway's year-by-year imports  from Nigeria was explained primarily by an increase in product imports  in General industrial machinery and equipment, n.e.s.,... (NOK467k or 994%), Coffee, tea, cocoa, spices, and manufactures... (NOK35k or 3.5k%), and Vegetables and fruit (NOK29k or 1.45k%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (October 2023 - October 2024)NOK-216M(-13.5%)
IMPORT GROWTH (October 2023 - October 2024)NOK526M(29.1k%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Nigeria and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Nigeria and Norway Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $1.75B to Nigeria. The main products exported from Norway to Nigeria were Refined Petroleum ($1.64B), Dried/Salted/Smoked/Brined Fish ($36.9M), and Non-fillet Frozen Fish ($36.2M). During the last 5 years the exports of Norway to Nigeria have increased at an annualized rate of 43%, from $292M in 2017 to $1.75B in 2022.

In 2017, Nigeria exported $3.78M to Norway. The main products exported from Nigeria to Norway were Machinery Having Individual Functions ($1.44M), Other Oily Seeds ($867k), and Aircraft Parts ($355k). During the last 5 years the exports of Nigeria to Norway have decreased at an annualized rate of 40.9%, from $52.5M in 2022 to $3.78M in 2017.

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

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

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Nigeria
Top DestinationSpain$9.41B

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

In 2022, countries that imported more from Norway than Nigeria included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2022, countries that imported more from Nigeria than Norway included India ($8.2B), Spain ($9.41B), and Indonesia ($3.83B).

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

Comparative Advantage Norway - Nigeria

Flow
Scale

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

During 2022, Norway had a large net trade with Nigeria in the exports of Mineral Products ($1.64B), Animal Products ($75.8M), and Machines ($16.1M).

During 2017, Nigeria had a large net trade with Norway in the exports of Machines ($2.19M), Vegetable Products ($973k), and Transportation ($391k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Nigeria+$5.8MNon-fillet Frozen Fish
Top Product Potential Nigeria Norway+$403kOther Oily Seeds

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 Norway and Nigeria. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Norway.

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

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