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2023
Exports $1.54BWorld Rnk 47 / 167
Flag Rnk 3 / 1096
2023
Destination $729M United Arab Emirates
2022 - 2023
FASTEST GROWING MARKET $729MUnited Arab Emirates
2023
PRODUCT COMPLEXITY IN Gold-2.5Rnk 1019 / 1025
2023
Imports $788kWorld Rnk 126 / 174
Flag Rnk 836 / 1184
2023
Origin $804 United Arab Emirates
2022 - 2023
FASTEST GROWING ORIGIN $804Turkey
2023
ECONOMIC COMPLEXITY of Nigeria-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $1.54B in Gold, making it the 47th largest exporter of Gold in the world. At the same year, Gold was the 3rd most exported product in Nigeria. The main destination of Gold exports from Nigeria are: United Arab Emirates ($1.25B), Switzerland ($287M), and Benin ($2.62k).

The fastest growing export markets for Gold of Nigeria between 2022 and 2023 were United Arab Emirates ($729M) and Benin ($2.62k).

Imports In 2023, Nigeria imported $788k in Gold, becoming the 126th largest importer of Gold in the world. At the same year, Gold was the 836th most imported product in Nigeria. Nigeria imports Gold primarily from: United Arab Emirates ($787k), Turkey ($804), and China ($660).

The fastest growing import markets in Gold for Nigeria between 2022 and 2023 were Turkey ($804).

Latest Trends

Dec 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 (2023)$1.54B
IMPORTS (2023)$788k
NET TRADE (2023)$1.54B

In 2023, Nigeria exported $1.54B in Gold. The main destinations of Nigeria exports on Gold were United Arab Emirates ($1.25B), Switzerland ($287M), and Benin ($2.62k).

In 2023, Nigeria imported $788k in Gold, mainly from United Arab Emirates ($787k), Turkey ($804), and China ($660).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Gold EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
United Arab Emirates$729M (140%)
Benin$2.62k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Gold BY Nigeria WERE (2022 - 2023):
Switzerland-$29.7M (-9.36%)
France-$175k (-100%)
South Korea-$48.7k (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Gold were:
Switzerland $109B
United Arab Emirates $46.8B
United Kingdom $33B
In 2023, Nigeria's main importing competitors in Gold were:
Switzerland $111B
China $87.8B
United Arab Emirates $75.2B

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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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