2022
Flag  
GDP
$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP
$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH
2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
GDP PC 
$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH
3.89%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), Fish: dried, salted, smoked or in brine ($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 31.3%,  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).

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), Fish: dried, salted, smoked or in brine ($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 31.3%, 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 Destination
Germany$78.1B
Nigeria
Top Destination
Spain$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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