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2022
Exports $31.2MWorld Rnk 55 / 177
Flag Rnk 43 / 1077
2022
Destination $12.1M Italy
2021 - 2022
FASTEST GROWING MARKET $12.1MItaly
2022
PRODUCT COMPLEXITY IN Precious Metal Scraps-0.68Rnk 752 / 1025
2022
Imports $400kWorld Rnk 64 / 118
Flag Rnk 934 / 1182
2022
Origin $5.18k United Arab Emirates
2021 - 2022
FASTEST GROWING ORIGIN $5.18kChina
2022
ECONOMIC COMPLEXITY of Nigeria-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $31.2M in Precious Metal Scraps, making it the 55th largest exporter of Precious Metal Scraps in the world. At the same year, Precious Metal Scraps was the 43rd most exported product in Nigeria. The main destination of Precious Metal Scraps exports from Nigeria are: Italy ($21.4M), United Kingdom ($5.36M), Germany ($2.75M), Belgium ($1.68M), and United Arab Emirates ($49.3k).

The fastest growing export markets for Precious Metal Scraps of Nigeria between 2021 and 2022 were Italy ($12.1M), United Arab Emirates ($49.3k), and Lithuania ($26.2k).

Imports In 2022, Nigeria imported $400k in Precious Metal Scraps, becoming the 64th largest importer of Precious Metal Scraps in the world. At the same year, Precious Metal Scraps was the 934th most imported product in Nigeria. Nigeria imports Precious Metal Scraps primarily from: United Arab Emirates ($391k), China ($5.54k), United States ($1.12k), Italy ($991), and India ($871).

The fastest growing import markets in Precious Metal Scraps for Nigeria between 2021 and 2022 were China ($5.18k), United States ($1.06k), and Italy ($991).

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 Precious Metal Scraps. 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)$31.2M
IMPORTS (2022)$400k
NET TRADE (2022)$30.8M

In 2022, Nigeria exported $31.2M in Precious Metal Scraps. The main destinations of Nigeria exports on Precious Metal Scraps were Italy ($21.4M), United Kingdom ($5.36M), Germany ($2.75M), Belgium ($1.68M), and United Arab Emirates ($49.3k).

In 2022, Nigeria imported $400k in Precious Metal Scraps, mainly from United Arab Emirates ($391k), China ($5.54k), United States ($1.12k), Italy ($991), and India ($871).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Precious Metal Scraps EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Italy$12.1M (131%)
United Arab Emirates$49.3k (1%)
Lithuania$26.2k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Precious Metal Scraps BY Nigeria WERE (2021 - 2022):
United States-$9.4M (-100%)
Germany-$7.53M (-73.3%)
United Kingdom-$4.63M (-46.3%)
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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 Precious Metal Scraps were:
United States $5.75B
Indonesia $2.6B
United Kingdom $1.45B
In 2022, Nigeria's main importing competitors in Precious Metal Scraps were:
Germany $3.7B
Canada $3.02B
Japan $2.87B

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Trade Value of Precious Metal Scraps by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALGermany+ $17.3M
TOP IMPORT POTENTIALUnited Arab Emirates+ $78.1k

Precious Metal Scraps’s highest export potential is Germany. With an export gap of $17.3M.   Precious Metal Scraps’s highest import potential is United Arab Emirates with an import gap of $78.1k.

See methodology.

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