2022
Exports
$2.29MWorld Rnk 110 / 210
Flag Rnk 127 / 1077
2022
PRODUCT COMPLEXITY IN Cars
0.9Rnk 207 / 1025
2022
Imports
$1.24BWorld Rnk 68 / 224
Flag Rnk 3 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $2.29M in Cars, making it the 110th largest exporter of Cars in the world. At the same year, Cars was the 127th most exported product in Nigeria. The main destination of Cars exports from Nigeria are: Benin ($1.88M), United States ($80k), Germany ($69.9k), Ethiopia ($47.9k), and Senegal ($42.7k).

The fastest growing export markets for Cars of Nigeria between 2021 and 2022 were Benin ($572k), United States ($80k), and Germany ($51.5k).

Imports In 2022, Nigeria imported $1.24B in Cars, becoming the 68th largest importer of Cars in the world. At the same year, Cars was the 3rd most imported product in Nigeria. Nigeria imports Cars primarily from: United States ($580M), India ($160M), United Arab Emirates ($149M), Canada ($76M), and Kuwait ($55.6M).

The fastest growing import markets in Cars for Nigeria between 2021 and 2022 were Kuwait ($55.3M), United Arab Emirates ($16.2M), and Japan ($4.46M).

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Cars. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.29M
IMPORTS (2022)$1.24B
NET TRADE (2022)-$1.23B

In 2022, Nigeria exported $2.29M in Cars. The main destinations of Nigeria exports on Cars were Benin ($1.88M), United States ($80k), Germany ($69.9k), Ethiopia ($47.9k), and Senegal ($42.7k).

In 2022, Nigeria imported $1.24B in Cars, mainly from United States ($580M), India ($160M), United Arab Emirates ($149M), Canada ($76M), and Kuwait ($55.6M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Cars EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Benin$572k (43.9%)
United States$80k (1%)
Germany$51.5k (280%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cars BY Nigeria WERE (2021 - 2022):
Spain-$57.1k (-58.5%)
Cameroon-$53.6k (-100%)
Angola-$41.8k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Cars were:
In 2022, Nigeria's main importing competitors in Cars were:

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Trade Value of Cars by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $640k
TOP IMPORT POTENTIALUnited States+ $91.1M

Cars’s highest export potential is United States. With an export gap of $640k.   Cars’s highest import potential is United States with an import gap of $91.1M.

See methodology.

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