2023
Exports
$85.8MWorld Rnk 4 / 78
Flag Rnk 21 / 1096
2023
PRODUCT COMPLEXITY IN Scrap Vessels
-1.53Rnk 947 / 1025
2023
Imports
$9.38MWorld Rnk 12 / 98
Flag Rnk 458 / 1184
2023
ECONOMIC COMPLEXITY of Nigeria
-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $85.8M in Scrap Vessels, making it the 4th largest exporter of Scrap Vessels in the world. At the same year, Scrap Vessels was the 21st most exported product in Nigeria. The main destination of Scrap Vessels exports from Nigeria are: Cameroon ($31.1M), Malaysia ($24.8M), Gabon ($12.6M), Equatorial Guinea ($10.1M), and Ghana ($7.28M).

The fastest growing export markets for Scrap Vessels of Nigeria between 2022 and 2023 were Malaysia ($24.8M), Gabon ($12.6M), and Equatorial Guinea ($8.86M).

Imports In 2023, Nigeria imported $9.38M in Scrap Vessels, becoming the 12th largest importer of Scrap Vessels in the world. At the same year, Scrap Vessels was the 458th most imported product in Nigeria. Nigeria imports Scrap Vessels primarily from: Cameroon ($4.05M), United States ($3.28M), South Africa ($2.05M), and Norway ($3.22k).

The fastest growing import markets in Scrap Vessels for Nigeria between 2022 and 2023 were Cameroon ($4.05M), United States ($3.28M), and South Africa ($2.05M).

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 Scrap Vessels. 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)$85.8M
IMPORTS (2023)$9.38M
NET TRADE (2023)$76.4M

In 2023, Nigeria exported $85.8M in Scrap Vessels. The main destinations of Nigeria exports on Scrap Vessels were Cameroon ($31.1M), Malaysia ($24.8M), Gabon ($12.6M), Equatorial Guinea ($10.1M), and Ghana ($7.28M).

In 2023, Nigeria imported $9.38M in Scrap Vessels, mainly from Cameroon ($4.05M), United States ($3.28M), South Africa ($2.05M), and Norway ($3.22k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Scrap Vessels EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
Malaysia$24.8M (1%)
Gabon$12.6M (1%)
Equatorial Guinea$8.86M (739%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Vessels BY Nigeria WERE (2022 - 2023):
Cote d'Ivoire-$19M (-100%)
Cameroon-$8.31M (-21.1%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Scrap Vessels were:
In 2023, Nigeria's main importing competitors in Scrap Vessels were:

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Trade Value of Scrap Vessels by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $6.23k
TOP IMPORT POTENTIALSouth Korea+ $32.5k

Scrap Vessels’s highest export potential is India. With an export gap of $6.23k.   Scrap Vessels’s highest import potential is South Korea with an import gap of $32.5k.

See methodology.

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