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2022
Exports $1.25MWorld Rnk 71 / 128
Flag Rnk 170 / 1077
2022
Destination $1.19M China
2021 - 2022
FASTEST GROWING MARKET $1.19MChina
2022
PRODUCT COMPLEXITY IN Iron Ore-1.79Rnk 980 / 1025
2022
Imports $11.6kWorld Rnk 105 / 130
Flag Rnk 1128 / 1182
2022
Origin $11.6k Niger
2021 - 2022
FASTEST GROWING ORIGIN $11.6kNiger
2022
ECONOMIC COMPLEXITY of Nigeria-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $1.25M in Iron Ore, making it the 71st largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 170th most exported product in Nigeria. The main destination of Iron Ore exports from Nigeria are: China ($1.24M), Spain ($16.4k), Netherlands ($360), and South Africa ($61).

The fastest growing export markets for Iron Ore of Nigeria between 2021 and 2022 were China ($1.19M), Spain ($16.4k), and South Africa ($56).

Imports In 2022, Nigeria imported $11.6k in Iron Ore, becoming the 105th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 1128th most imported product in Nigeria. Nigeria imports Iron Ore primarily from: Niger ($11.6k).

The fastest growing import markets in Iron Ore for Nigeria between 2021 and 2022 were Niger ($11.6k).

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 Iron Ore. 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)$1.25M
IMPORTS (2022)$11.6k
NET TRADE (2022)$1.24M

In 2022, Nigeria exported $1.25M in Iron Ore. The main destinations of Nigeria exports on Iron Ore were China ($1.24M), Spain ($16.4k), Netherlands ($360), and South Africa ($61).

In 2022, Nigeria imported $11.6k in Iron Ore, mainly from Niger ($11.6k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
China$1.19M (2.34k%)
Spain$16.4k (1%)
South Africa$56 (1.12k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY Nigeria WERE (2021 - 2022):
Turkey-$394 (-100%)
Canada-$17 (-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 Iron Ore were:
Australia $87.9B
Brazil $30.1B
Canada $6.81B
In 2022, Nigeria's main importing competitors in Iron Ore were:
China $103B
Japan $11.3B
South Korea $7.58B

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Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $3.46M
TOP IMPORT POTENTIALBrazil+ $1.87k

Iron Ore’s highest export potential is China. With an export gap of $3.46M.   Iron Ore’s highest import potential is Brazil with an import gap of $1.87k.

See methodology.

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