2022
Exports
$12.1MWorld Rnk 108 / 212
Flag Rnk 69 / 1077
2022
PRODUCT COMPLEXITY IN Scrap Iron
-0.59Rnk 720 / 1025
2022
Imports
$2.93MWorld Rnk 81 / 187
Flag Rnk 673 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $12.1M in Scrap Iron, making it the 108th largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 69th most exported product in Nigeria. The main destination of Scrap Iron exports from Nigeria are: Netherlands ($5.96M), India ($4.49M), Germany ($1.38M), China ($95.2k), and Niger ($76.1k).

The fastest growing export markets for Scrap Iron of Nigeria between 2021 and 2022 were India ($2.74M), Netherlands ($1.78M), and Germany ($1.26M).

Imports In 2022, Nigeria imported $2.93M in Scrap Iron, becoming the 81st largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 673rd most imported product in Nigeria. Nigeria imports Scrap Iron primarily from: Australia ($759k), China ($742k), Niger ($659k), Benin ($411k), and United States ($218k).

The fastest growing import markets in Scrap Iron for Nigeria between 2021 and 2022 were Australia ($747k), China ($656k), and Benin ($411k).

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 Scrap Iron. 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)$12.1M
IMPORTS (2022)$2.93M
NET TRADE (2022)$9.17M

In 2022, Nigeria exported $12.1M in Scrap Iron. The main destinations of Nigeria exports on Scrap Iron were Netherlands ($5.96M), India ($4.49M), Germany ($1.38M), China ($95.2k), and Niger ($76.1k).

In 2022, Nigeria imported $2.93M in Scrap Iron, mainly from Australia ($759k), China ($742k), Niger ($659k), Benin ($411k), and United States ($218k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Iron EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
India$2.74M (156%)
Netherlands$1.78M (42.6%)
Germany$1.26M (1k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Iron BY Nigeria WERE (2021 - 2022):
Spain-$69.2k (-100%)
Malaysia-$53.8k (-100%)
United Kingdom-$25k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Scrap Iron were:
In 2022, Nigeria's main importing competitors in Scrap Iron were:
Turkey $8.77B
India $5.65B
Belgium $2.84B

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Trade Value of Scrap Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $6.37M
TOP IMPORT POTENTIALUnited States+ $537k

Scrap Iron’s highest export potential is India. With an export gap of $6.37M.   Scrap Iron’s highest import potential is United States with an import gap of $537k.

See methodology.

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