2022
Exports
$1.27MWorld Rnk 95 / 177
Flag Rnk 166 / 1077
2022
PRODUCT COMPLEXITY IN Iron Blocks
-0.42Rnk 679 / 1025
2022
Imports
$132MWorld Rnk 41 / 219
Flag Rnk 85 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $1.27M in Iron Blocks, making it the 95th largest exporter of Iron Blocks in the world. At the same year, Iron Blocks was the 166th most exported product in Nigeria. The main destination of Iron Blocks exports from Nigeria are: Ghana ($751k), Niger ($326k), Benin ($196k), and Togo ($496).

The fastest growing export markets for Iron Blocks of Nigeria between 2021 and 2022 were Niger ($23.1k) and Togo ($496).

Imports In 2022, Nigeria imported $132M in Iron Blocks, becoming the 41st largest importer of Iron Blocks in the world. At the same year, Iron Blocks was the 85th most imported product in Nigeria. Nigeria imports Iron Blocks primarily from: China ($124M), Turkey ($2.25M), United Arab Emirates ($1.98M), Ukraine ($1.04M), and Spain ($886k).

The fastest growing import markets in Iron Blocks for Nigeria between 2021 and 2022 were China ($72.1M), United Arab Emirates ($530k), and Bahrain ($311k).

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 Iron Blocks. 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)$1.27M
IMPORTS (2022)$132M
NET TRADE (2022)-$130M

In 2022, Nigeria exported $1.27M in Iron Blocks. The main destinations of Nigeria exports on Iron Blocks were Ghana ($751k), Niger ($326k), Benin ($196k), and Togo ($496).

In 2022, Nigeria imported $132M in Iron Blocks, mainly from China ($124M), Turkey ($2.25M), United Arab Emirates ($1.98M), Ukraine ($1.04M), and Spain ($886k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Blocks EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Niger$23.1k (7.62%)
Togo$496 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Blocks BY Nigeria WERE (2021 - 2022):
Ghana-$581k (-43.6%)
Benin-$11.1k (-5.35%)
Cote d'Ivoire-$1.89k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Iron Blocks were:
China $2.83B
Spain $2.24B
Germany $2.07B
In 2022, Nigeria's main importing competitors in Iron Blocks were:

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Trade Value of Iron Blocks by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALBenin+ $90.7k
TOP IMPORT POTENTIALTurkey+ $3.08M

Iron Blocks’s highest export potential is Benin. With an export gap of $90.7k.   Iron Blocks’s highest import potential is Turkey with an import gap of $3.08M.

See methodology.

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