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2022
Exports $15.6kWorld Rnk 72 / 95
Flag Rnk 638 / 1077
2022
Destination $4.87k Brazil
2021 - 2022
FASTEST GROWING MARKET $4.87kNetherlands
2022
Imports $24.6kWorld Rnk 64 / 112
Flag Rnk 1103 / 1182
2022
Origin $19.6k India
2021 - 2022
FASTEST GROWING ORIGIN $19.6kIndia
2022
ECONOMIC COMPLEXITY of Nigeria-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $15.6k in Fat and Oil Residues, making it the 72nd largest exporter of Fat and Oil Residues in the world. At the same year, Fat and Oil Residues was the 638th most exported product in Nigeria. The main destination of Fat and Oil Residues exports from Nigeria are: Brazil ($7.61k), Netherlands ($4.87k), Portugal ($2.91k), and Benin ($169).

The fastest growing export markets for Fat and Oil Residues of Nigeria between 2021 and 2022 were Netherlands ($4.87k) and Brazil ($474).

Imports In 2022, Nigeria imported $24.6k in Fat and Oil Residues, becoming the 64th largest importer of Fat and Oil Residues in the world. At the same year, Fat and Oil Residues was the 1103rd most imported product in Nigeria. Nigeria imports Fat and Oil Residues primarily from: India ($19.6k) and Niger ($4.97k).

The fastest growing import markets in Fat and Oil Residues for Nigeria between 2021 and 2022 were India ($19.6k) and Niger ($4.97k).

Latest Trends

Jul 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 Fat and Oil Residues. 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)$15.6k
IMPORTS (2022)$24.6k
NET TRADE (2022)-$9.04k

In 2022, Nigeria exported $15.6k in Fat and Oil Residues. The main destinations of Nigeria exports on Fat and Oil Residues were Brazil ($7.61k), Netherlands ($4.87k), Portugal ($2.91k), and Benin ($169).

In 2022, Nigeria imported $24.6k in Fat and Oil Residues, mainly from India ($19.6k) and Niger ($4.97k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Fat and Oil Residues EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Netherlands$4.87k (1%)
Brazil$474 (6.65%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Fat and Oil Residues BY Nigeria WERE (2021 - 2022):
Portugal-$3.93k (-57.4%)
Benin-$117 (-40.9%)
Niger-$25 (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Fat and Oil Residues were:
Indonesia $153M
Malaysia $75.1M
Spain $33M
In 2022, Nigeria's main importing competitors in Fat and Oil Residues were:
Spain $180M
Italy $46.7M
Netherlands $43.3M

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Trade Value of Fat and Oil Residues by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $5.59k
TOP IMPORT POTENTIALIndonesia+ $896

Fat and Oil Residues’s highest export potential is Netherlands. With an export gap of $5.59k.   Fat and Oil Residues’s highest import potential is Indonesia with an import gap of $896.

See methodology.

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