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2023
Flag → Flag
Exports $159MRnk 65 / 216
2023
Flag → Flag
Top Product $55.2MRefined Petroleum
2023
Flag → Flag
Exports $682MRnk 22 / 159
2023
Flag → Flag
Top Product $673MCrude Petroleum
2023
Flag
Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
Flag
GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
Flag
 GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
GDP PC $55,517CURRENT US$
Rnk 19 / 195
2013-2023
Flag
GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 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

Sweden-Nigeria Trade: In 2023, Sweden exported $159M to Nigeria. The main products that Sweden exported to Nigeria were Refined Petroleum ($55.2M), Other Plastic Products ($20.4M), and Broadcasting Equipment ($14.1M). Over the past 5 years the exports of Sweden to Nigeria have decreased at an annualized rate of 1.54%, from $172M in 2018 to $159M in 2023.

In 2020, Sweden exported services to Nigeria worth $66.5M, with Computer and information services ($51.1M), Communications services ($5.94M), and Other business services ($3.43M) being the largest in terms of value.

Nigeria-Sweden Trade: In 2023, Nigeria exported $682M to Sweden. The main products that Nigeria exported to Sweden were Crude Petroleum ($673M), Petroleum Gas ($6.59M), and Refined Petroleum ($1.09M). Over the past 5 years the exports of Nigeria to Sweden have decreased at an annualized rate of 18.5%,  from $1.9B in 2018 to $682M in 2023.

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

Comparison: In 2023,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B). That same year, Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B).

Latest Trends

November, 2024

About

Overview In November 2024, Sweden exported SEK28.8M and imported SEK100M from Nigeria, resulting in a negative trade balance of SEK71.3M. Between November 2023 and November 2024 the exports of Sweden have decreased by SEK-19.5M (-40.3%) from SEK48.3M to SEK28.8M, while imports decreased by SEK-1.05B (-91.3%) from SEK1.15B to SEK100M.

Trade In November 2024, the top exports of Sweden to Nigeria were Refined Petroleum (SEK174M), Cranes (SEK8.69M), Other Construction Vehicles (SEK6.24M), Other Paper Machinery (SEK1.04M), and Eyewear Frames (SEK751k). In November 2024 the top imports of Sweden from Nigeria were Crude Petroleum (SEK1.87B), Other Construction Vehicles (SEK193k), Precious Metal Watches (SEK173k), Soap (SEK67k), and Gas Turbines (SEK58k).

Growth In November 2024, the decrease in Sweden's year-by-year exports to Nigeria was explained primarily by an decrease in product exports in Telephones (SEK-24.1M or -99.5%), Dairy Machinery (SEK-2.33M or -87.6%), and Valves (SEK-872k or -78.1%). In November 2024, the decrease in Sweden's year-by-year imports  from Nigeria was explained primarily by an decrease in product imports  in Live Fish (SEK-18k or -26.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)SEK-19.5M(-40.3%)
IMPORT GROWTH (November 2023 - November 2024)SEK-1.05B(-91.3%)

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

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

For full datasets download visit Bulk Download page.

Explore Nigeria and Sweden Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sweden exported $159M to Nigeria. The main products exported from Sweden to Nigeria were Refined Petroleum ($55.2M), Other Plastic Products ($20.4M), and Broadcasting Equipment ($14.1M). During the last 5 years the exports of Sweden to Nigeria have decreased at an annualized rate of 1.54%, from $172M in 2018 to $159M in 2023.

In 2018, Nigeria exported $682M to Sweden. The main products exported from Nigeria to Sweden were Crude Petroleum ($673M), Petroleum Gas ($6.59M), and Refined Petroleum ($1.09M). During the last 5 years the exports of Nigeria to Sweden have decreased at an annualized rate of 18.5%, from $1.9B in 2023 to $682M in 2018.

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

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

Market Competitiveness

Color
Sweden
Top DestinationGermany$18.4B
Nigeria
Top DestinationUnited States$6.29B

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

In 2023, countries that imported more from Sweden than Nigeria included Germany ($18.4B), Denmark ($14.4B), and United States ($18.1B).

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

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

Comparative Advantage Sweden - Nigeria

Flow
Scale

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

During 2023, Sweden had a large net trade with Nigeria in the exports of Mineral Products ($59.6M), Machines ($47M), and Plastics and Rubbers ($25.6M).

During 2018, Nigeria had a large net trade with Sweden in the exports of Mineral Products ($681M), Machines ($484k), and Vegetable Products ($235k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sweden Nigeria+$80.2MRefined Petroleum
Top Product Potential Nigeria Sweden+$146MCrude 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 Sweden and Nigeria. This means that a dot/product with the flag of Sweden indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Sweden.

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

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