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Pricing

2022
Flag → Flag
Exports $39.9MRnk 74 / 208
2022
Flag → Flag
Top Product $6.93MMalt Extract
2022
Flag → Flag
Exports $1.93BRnk 12 / 166
2022
Flag → Flag
Top Product $1.1BCrude Petroleum
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag  
GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
Flag
GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
Flag
 GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
GDP PC $24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH18%CURRENT US$
Rnk 94 / 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

Portugal-Nigeria Trade: In 2022, Portugal exported $39.9M to Nigeria. The main products that Portugal exported to Nigeria were Malt Extract ($6.93M), Animal Food ($5.07M), and Stone Processing Machines ($2.07M). Over the past 5 years the exports of Portugal to Nigeria have increased at an annualized rate of 6.49%, from $29.1M in 2017 to $39.9M in 2022.

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 2022, Nigeria exported $1.93B to Portugal. The main products that Nigeria exported to Portugal were Crude Petroleum ($1.1B), Petroleum Gas ($814M), and Wood Charcoal ($4.52M). Over the past 5 years the exports of Nigeria to Portugal have increased at an annualized rate of 90.6%,  from $76.5M in 2017 to $1.93B in 2022.

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

Comparison: In 2022,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B). That same year, Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B).

Latest Trends

July, 2024

About

Overview In July 2024, Portugal exported €2.73M and imported €78.5M from Nigeria, resulting in a negative trade balance of €75.8M. Between July 2023 and July 2024 the exports of Portugal have decreased by €-2.86M (-51.2%) from €5.6M to €2.73M, while imports decreased by €-44.4M (-36.1%) from €123M to €78.5M.

Trade In July 2024, the top exports of Portugal to Nigeria were Paints, dyes, & varnishes (€296k), Machinery, mechanical appliances, & parts (€276k), Furniture, bedding, lamps, & prefab buildings (€275k), Preparations of cereals, flour, starch or... (€173k), and Electrical machinery and electronics (€166k). In July 2024 the top imports of Portugal from Nigeria were Mineral fuels, mineral oils and products... (€29M), Wood, wood articles, & charcoal (€475k), Plastics & articles thereof (€116k), Cotton (€63.9k), and Perfumery & cosmetics (€1.65k).

Growth In July 2024, the decrease in Portugal's year-by-year exports to Nigeria was explained primarily by an decrease in product exports in Products of the milling industry (€-1.76M or -100%), Food residues & wastes; animal fodder (€-801k or -100%), and Iron or steel articles (€-579k or -97.4%). In July 2024, the decrease in Portugal's year-by-year imports  from Nigeria was explained primarily by an decrease in product imports  in Mineral fuels, mineral oils and products... (€-92.2M or -76.1%), Man-made staple fibres (€-361k or -100%), and Plastics & articles thereof (€-112k or -49.1%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (July 2023 - July 2024)€-2.86M(-51.2%)
IMPORT GROWTH (July 2023 - July 2024)€-44.4M(-36.1%)

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 2022, Portugal exported $39.9M to Nigeria. The main products exported from Portugal to Nigeria were Malt Extract ($6.93M), Animal Food ($5.07M), and Stone Processing Machines ($2.07M). During the last 5 years the exports of Portugal to Nigeria have increased at an annualized rate of 6.49%, from $29.1M in 2017 to $39.9M in 2022.

In 2017, Nigeria exported $1.93B to Portugal. The main products exported from Nigeria to Portugal were Crude Petroleum ($1.1B), Petroleum Gas ($814M), and Wood Charcoal ($4.52M). During the last 5 years the exports of Nigeria to Portugal have increased at an annualized rate of 90.6%, from $76.5M in 2022 to $1.93B in 2017.

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

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

Market Competitiveness

Color
Portugal
Top DestinationSpain$20.5B
Nigeria
Top DestinationSpain$9.41B

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 2022, countries that imported more from Portugal than Nigeria included Spain ($20.5B), Germany ($8.76B), and France ($9.49B).

In 2022, countries that imported more from Nigeria than Portugal included India ($8.2B), Indonesia ($3.83B), and South Africa ($2.25B).

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

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 2022, Portugal had a large net trade with Nigeria in the exports of Foodstuffs ($14.7M), Machines ($8.51M), and Metals ($3.22M).

During 2017, Nigeria had a large net trade with Portugal in the exports of Mineral Products ($1.91B), Wood Products ($6.4M), and Textiles ($4.31M).

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) (2022)

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