2022
Exports
$63.6MWorld Rnk 10 / 84
Flag Rnk 29 / 1077
2022
PRODUCT COMPLEXITY IN Scrap Vessels
-1.24Rnk 890 / 1025
2022
Imports
$10.8MWorld Rnk 13 / 100
Flag Rnk 455 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $63.6M in Scrap Vessels, making it the 10th largest exporter of Scrap Vessels in the world. At the same year, Scrap Vessels was the 29th most exported product in Nigeria. The main destination of Scrap Vessels exports from Nigeria are: Cameroon ($39.4M), Cote d'Ivoire ($19M), Ghana ($3.98M), and Equatorial Guinea ($1.2M).

The fastest growing export markets for Scrap Vessels of Nigeria between 2021 and 2022 were Cote d'Ivoire ($19M) and Ghana ($3.98M).

Imports In 2022, Nigeria imported $10.8M in Scrap Vessels, becoming the 13th largest importer of Scrap Vessels in the world. At the same year, Scrap Vessels was the 455th most imported product in Nigeria. Nigeria imports Scrap Vessels primarily from: Singapore ($10.8M), South Korea ($6.9k), and United States ($946).

The fastest growing import markets in Scrap Vessels for Nigeria between 2021 and 2022 were Singapore ($10.8M), South Korea ($6.9k), and United States ($946).

Latest Trends

Oct 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 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 (2022)$63.6M
IMPORTS (2022)$10.8M
NET TRADE (2022)$52.9M

In 2022, Nigeria exported $63.6M in Scrap Vessels. The main destinations of Nigeria exports on Scrap Vessels were Cameroon ($39.4M), Cote d'Ivoire ($19M), Ghana ($3.98M), and Equatorial Guinea ($1.2M).

In 2022, Nigeria imported $10.8M in Scrap Vessels, mainly from Singapore ($10.8M), South Korea ($6.9k), and United States ($946).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Vessels EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Cote d'Ivoire$19M (1%)
Ghana$3.98M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Vessels BY Nigeria WERE (2021 - 2022):
Cameroon-$48.8M (-55.3%)
United Kingdom-$47.6M (-100%)
Spain-$19.4M (-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 Vessels were:
In 2022, 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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