2022
Exports
$806MWorld Rnk 63 / 176
Flag Rnk 5 / 1077
2022
PRODUCT COMPLEXITY IN Gold
-2.43Rnk 1016 / 1025
2022
Imports
$1.32MWorld Rnk 118 / 178
Flag Rnk 784 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $806M in Gold, making it the 63rd largest exporter of Gold in the world. At the same year, Gold was the 5th most exported product in Nigeria. The main destination of Gold exports from Nigeria are: United Arab Emirates ($489M), Switzerland ($317M), France ($175k), South Korea ($48.7k), and Indonesia ($113).

The fastest growing export markets for Gold of Nigeria between 2021 and 2022 were United Arab Emirates ($345M), Switzerland ($304M), and France ($175k).

Imports In 2022, Nigeria imported $1.32M in Gold, becoming the 118th largest importer of Gold in the world. At the same year, Gold was the 784th most imported product in Nigeria. Nigeria imports Gold primarily from: United Arab Emirates ($1.16M), Germany ($86.2k), Kenya ($55.2k), South Korea ($13.2k), and China ($2.12k).

The fastest growing import markets in Gold for Nigeria between 2021 and 2022 were United Arab Emirates ($723k), Germany ($86.2k), and Kenya ($55.2k).

Latest Trends

Aug 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 Gold. 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)$806M
IMPORTS (2022)$1.32M
NET TRADE (2022)$805M

In 2022, Nigeria exported $806M in Gold. The main destinations of Nigeria exports on Gold were United Arab Emirates ($489M), Switzerland ($317M), France ($175k), South Korea ($48.7k), and Indonesia ($113).

In 2022, Nigeria imported $1.32M in Gold, mainly from United Arab Emirates ($1.16M), Germany ($86.2k), Kenya ($55.2k), South Korea ($13.2k), and China ($2.12k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Gold EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Switzerland$304M (2.36k%)
France$175k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Gold BY Nigeria WERE (2021 - 2022):
Turkey-$376k (-100%)
Canada-$899 (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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

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Trade Value of Gold by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALSwitzerland+ $176M
TOP IMPORT POTENTIALUnited Arab Emirates+ $1.01M

Gold’s highest export potential is Switzerland. With an export gap of $176M.   Gold’s highest import potential is United Arab Emirates with an import gap of $1.01M.

See methodology.

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