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2023
Exports $5.77MWorld Rnk 60 / 127
Flag Rnk 92 / 1096
falsefalse China
2022 - 2023
FASTEST GROWING MARKETfalseChina
2023
PRODUCT COMPLEXITY IN Iron Ore-1.87Rnk 987 / 1025
2023
Imports $14kWorld Rnk 0 / 0
Flag Rnk 0 / 0
2022 - 2023
FASTEST GROWING ORIGINfalsefalse
2023
ECONOMIC COMPLEXITY of Nigeria-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $5.77M in Iron Ore, making it the 60th largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 92nd most exported product in Nigeria. The main destination of Iron Ore exports from Nigeria are: China ($5.75M), Malaysia ($19.9k), South Africa ($99), and Netherlands ($91).

The fastest growing export markets for Iron Ore of Nigeria between 2022 and 2023 were China ($4.58M), Malaysia ($19.9k), and South Africa ($38).

Imports In 2022, Nigeria imported $14k in Iron Ore, becoming the 0th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 0th most imported product in Nigeria. Nigeria imports Iron Ore primarily from: N/A.

Latest Trends

Jan 2025

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 (2023)$5.77M
IMPORTS (2022)$14k
NET TRADE (2023)$5.77M

In 2023, Nigeria exported $5.77M in Iron Ore. The main destinations of Nigeria exports on Iron Ore were China ($5.75M), Malaysia ($19.9k), South Africa ($99), and Netherlands ($91).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
China$4.58M (389%)
Malaysia$19.9k (1%)
South Africa$38 (62.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY Nigeria WERE (2022 - 2023):
Spain-$16.4k (-100%)
Netherlands-$352 (-79.5%)
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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 Iron Ore were:
Australia $85.4B
Brazil $34B
Canada $7.23B
In 2023, Nigeria's main importing competitors in Iron Ore were:
China $112B
Japan $9.3B
South Korea $7.07B

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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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