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2023
Flag → Flag
Exports $59.2MRnk 68 / 211
2023
Flag → Flag
Top Product $8.94MUncoated Paper
2023
Flag → Flag
Exports $1.26BRnk 16 / 159
2023
Flag → Flag
Top Product $703MCrude Petroleum
2023
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
Flag
GDP GROWTH27.5%CURRENT US$
Rnk 119 / 195
2023
Flag
 GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
GDP PC $27,331CURRENT US$
Rnk 50 / 195
2013-2023
Flag
GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195
2023
Flag
GDP PC$1,597CURRENT US$
Rnk 164 / 196
2013-2023
Flag
GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195

About

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.

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 27.7%,  from $228M in 2018 to $1.26B in 2023.

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

Comparison: In 2023,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B). That same year, Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B).

Latest Trends

December, 2024

About

Overview In December 2024, Portugal exported €2.46M and imported €52.8M from Nigeria, resulting in a negative trade balance of €50.3M. Between December 2023 and December 2024 the exports of Portugal have decreased by €-1.49M (-37.7%) from €3.95M to €2.46M, while imports decreased by €-18.4M (-25.8%) from €71.2M to €52.8M.

Trade In December 2024, the top exports of Portugal to Nigeria were Machinery, mechanical appliances, & parts (€1.11M), Electrical machinery and electronics (€346k), Wadding, felt, nonwovens, twin, ropes, &... (€307k), Pharmaceutical products (€192k), and Glues, starches, & albuminoid products (€147k). In December 2024 the top imports of Portugal from Nigeria were Mineral fuels, mineral oils and products... (€118M), Wood, wood articles, & charcoal (€427k), Man-made staple fibres (€356k), Cotton (€68.3k), and Optical, photo, & film equipment; medical... (€5.42k).

Growth In December 2024, the decrease in Portugal's year-by-year exports to Nigeria was explained primarily by an decrease in product exports in Paints, dyes, & varnishes (€-296k or -100%), Furniture, bedding, lamps, & prefab buildings (€-269k or -97.9%), and Preparations of cereals, flour, starch or... (€-152k or -87.9%). In December 2024, the decrease in Portugal's year-by-year imports  from Nigeria was explained primarily by an decrease in product imports  in Plastics & articles thereof (€-116k or -99.9%), Wood, wood articles, & charcoal (€-47.5k or -10%), and Non-knitted clothing accesories (€-461 or -73.6%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (December 2023 - December 2024)€-1.49M(-37.7%)
IMPORT GROWTH (December 2023 - December 2024)€-18.4M(-25.8%)

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

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

For full datasets download visit Bulk Download page.

Explore Nigeria and Portugal Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, 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 2018 to $59.2M in 2023.

In 2018, 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 27.7%, from $228M in 2023 to $1.26B in 2018.

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

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

Market Competitiveness

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

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

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

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

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

Comparative Advantage Portugal - Nigeria

Flow
Scale

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

During 2023, Portugal had a large net trade with Nigeria in the exports of Machines ($12.2M), Paper Goods ($9.76M), and Vegetable Products ($8.73M).

During 2018, Nigeria had a large net trade with Portugal in the exports of Mineral Products ($1.24B), Wood Products ($10.1M), and Textiles ($3.62M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal Nigeria+$2.99MUncoated Paper
Top Product Potential Nigeria Portugal+$302MCrude 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 Portugal and Nigeria. This means that a dot/product with the flag of Portugal indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Portugal.

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

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