Venezuela (VEN) and Nigeria (NGA) Trade | The Observatory of Economic Complexity

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Venezuela-Nigeria Trade: In 2022, Venezuela exported $742k to Nigeria. The main products that Venezuela exported to Nigeria were Animal Food ($319k), Tanned Equine and Bovine Hides ($309k), and Liquid Pumps ($114k). Over the past 5 years the exports of Venezuela to Nigeria have decreased at an annualized rate of 36.3%, from $7.05M in 2017 to $742k in 2022.

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

Nigeria-Venezuela In N/A, Nigeria did not export any products to Venezuela.

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

Comparison: In 2022, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Venezuela exported $742k to Nigeria. The main products exported from Venezuela to Nigeria were Animal Food ($319k), Tanned Equine and Bovine Hides ($309k), and Liquid Pumps ($114k). During the last 5 years the exports of Venezuela to Nigeria have decreased at an annualized rate of 36.3%, from $7.05M in 2017 to $742k in 2022.

Nigeria does not register exports to Venezuela. The main products exported from Nigeria to Venezuela were Ethylene Polymers ($384k), Cut Flowers ($107k), and Float Glass ($2.51k).

Exports from Venezuela () to Nigeria () (2022)

Exports from Nigeria () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Nigeria ()

Nigeria Exports

Date

Feb 2018

Feb 2011

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Nigeria
Top DestinationSpain$9.41B

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

In 2022, countries that imported more from Venezuela than Nigeria included Lebanon ($150M), Guatemala ($84.5M), and Montenegro ($75.9M).

In 2022, countries that imported more from Nigeria than Venezuela included Spain ($9.41B), India ($8.2B), and France ($4.95B).

Difference in imports from Nigeria () and Venezuela () (2022)

Comparative Advantage Venezuela - Nigeria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Venezuela had a large net trade with Nigeria in the exports of Foodstuffs ($319k), Animal Hides ($309k), and Machines ($114k).

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Venezuela and Nigeria. This means that a dot/product with the flag of Venezuela indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Venezuela.

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Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Nigeria () (2022)

Exports from Nigeria () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Nigeria ()

Nigeria Exports

Market Competitiveness

Difference in imports from Nigeria () and Venezuela () (2022)

Comparative Advantage Venezuela - Nigeria

Economic Complexity

Competitive Landscape

Product Space of Venezuela () and Nigeria () (2022)

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