2023
Exports
$1.2MWorld Rnk 134 / 214
Flag Rnk 188 / 1096
2023
PRODUCT COMPLEXITY IN Packaged Medicaments
0.63Rnk 313 / 1025
2023
Imports
$706MWorld Rnk 66 / 226
Flag Rnk 6 / 1184
2023
ECONOMIC COMPLEXITY of Nigeria
-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $1.2M in Packaged Medicaments, making it the 134th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 188th most exported product in Nigeria. The main destination of Packaged Medicaments exports from Nigeria are: Botswana ($242k), Ghana ($182k), Benin ($153k), Angola ($93.8k), and Liberia ($85.7k).

The fastest growing export markets for Packaged Medicaments of Nigeria between 2022 and 2023 were Botswana ($241k), Ghana ($163k), and Benin ($153k).

Imports In 2023, Nigeria imported $706M in Packaged Medicaments, becoming the 66th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 6th most imported product in Nigeria. Nigeria imports Packaged Medicaments primarily from: India ($345M), China ($140M), Switzerland ($27.5M), Belgium ($19M), and United Kingdom ($18.7M).

The fastest growing import markets in Packaged Medicaments for Nigeria between 2022 and 2023 were United States ($6.34M), Switzerland ($5.58M), and Mexico ($4.58M).

Historical Data

Trade Balance

Color
EXPORTS (2023)$1.2M
IMPORTS (2023)$706M
NET TRADE (2023)-$705M

In 2023, Nigeria exported $1.2M in Packaged Medicaments. The main destinations of Nigeria exports on Packaged Medicaments were Botswana ($242k), Ghana ($182k), Benin ($153k), Angola ($93.8k), and Liberia ($85.7k).

In 2023, Nigeria imported $706M in Packaged Medicaments, mainly from India ($345M), China ($140M), Switzerland ($27.5M), Belgium ($19M), and United Kingdom ($18.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
Botswana$241k (40.9k%)
Ghana$163k (847%)
Benin$153k (94.9k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Nigeria WERE (2022 - 2023):
Rwanda-$120k (-100%)
Republic of the Congo-$79.9k (-100%)
Sierra Leone-$76.9k (-61.9%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Packaged Medicaments were:
In 2023, Nigeria's main importing competitors in Packaged Medicaments were:

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALTurkey+ $123k
TOP IMPORT POTENTIALIndia+ $88.5M

Packaged Medicaments’s highest export potential is Turkey. With an export gap of $123k.   Packaged Medicaments’s highest import potential is India with an import gap of $88.5M.

See methodology.

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