2022
Exports
$1.46MWorld Rnk 120 / 221
Flag Rnk 156 / 1077
2022
PRODUCT COMPLEXITY IN Excavation Machinery
0.96Rnk 185 / 1025
2022
Imports
$122MWorld Rnk 64 / 224
Flag Rnk 90 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $1.46M in Excavation Machinery, making it the 120th largest exporter of Excavation Machinery in the world. At the same year, Excavation Machinery was the 156th most exported product in Nigeria. The main destination of Excavation Machinery exports from Nigeria are: Malaysia ($567k), Angola ($265k), Tanzania ($216k), Kenya ($73k), and United Arab Emirates ($62.8k).

The fastest growing export markets for Excavation Machinery of Nigeria between 2021 and 2022 were Malaysia ($567k), Angola ($246k), and Tanzania ($216k).

Imports In 2022, Nigeria imported $122M in Excavation Machinery, becoming the 64th largest importer of Excavation Machinery in the world. At the same year, Excavation Machinery was the 90th most imported product in Nigeria. Nigeria imports Excavation Machinery primarily from: China ($50.3M), United States ($18.7M), Italy ($5.61M), United Kingdom ($5.18M), and Germany ($4.73M).

The fastest growing import markets in Excavation Machinery for Nigeria between 2021 and 2022 were China ($9.66M), United States ($2.16M), and Indonesia ($1.86M).

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 Excavation Machinery. 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)$1.46M
IMPORTS (2022)$122M
NET TRADE (2022)-$121M

In 2022, Nigeria exported $1.46M in Excavation Machinery. The main destinations of Nigeria exports on Excavation Machinery were Malaysia ($567k), Angola ($265k), Tanzania ($216k), Kenya ($73k), and United Arab Emirates ($62.8k).

In 2022, Nigeria imported $122M in Excavation Machinery, mainly from China ($50.3M), United States ($18.7M), Italy ($5.61M), United Kingdom ($5.18M), and Germany ($4.73M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Excavation Machinery EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Malaysia$567k (1%)
Angola$246k (1.3k%)
Tanzania$216k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Excavation Machinery BY Nigeria WERE (2021 - 2022):
Cote d'Ivoire-$314k (-87.9%)
Norway-$59.6k (-96.6%)
Netherlands-$28.6k (-83.9%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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

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Trade Value of Excavation Machinery by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALMalaysia+ $170k
TOP IMPORT POTENTIALChina+ $23.2M

Excavation Machinery’s highest export potential is Malaysia. With an export gap of $170k.   Excavation Machinery’s highest import potential is China with an import gap of $23.2M.

See methodology.

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