2022
Exports
$4.17MWorld Rnk 91 / 216
Flag Rnk 101 / 1077
2022
PRODUCT COMPLEXITY IN Machinery Having Individual Functions
1.9Rnk 10 / 1025
2022
Imports
$192MWorld Rnk 61 / 225
Flag Rnk 61 / 1182
2022
ECONOMIC COMPLEXITY of Nigeria
-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $4.17M in Machinery Having Individual Functions, making it the 91st largest exporter of Machinery Having Individual Functions in the world. At the same year, Machinery Having Individual Functions was the 101st most exported product in Nigeria. The main destination of Machinery Having Individual Functions exports from Nigeria are: Norway ($1.44M), Cote d'Ivoire ($1.03M), Guinea ($600k), Republic of the Congo ($219k), and Netherlands ($193k).

The fastest growing export markets for Machinery Having Individual Functions of Nigeria between 2021 and 2022 were Norway ($1.44M), Cote d'Ivoire ($948k), and Guinea ($600k).

Imports In 2022, Nigeria imported $192M in Machinery Having Individual Functions, becoming the 61st largest importer of Machinery Having Individual Functions in the world. At the same year, Machinery Having Individual Functions was the 61st most imported product in Nigeria. Nigeria imports Machinery Having Individual Functions primarily from: China ($46.6M), India ($31.1M), Germany ($15.5M), Italy ($14.8M), and United States ($13.2M).

The fastest growing import markets in Machinery Having Individual Functions for Nigeria between 2021 and 2022 were India ($6.12M), Lebanon ($5.75M), and Singapore ($3.56M).

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 Machinery Having Individual Functions. 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)$4.17M
IMPORTS (2022)$192M
NET TRADE (2022)-$188M

In 2022, Nigeria exported $4.17M in Machinery Having Individual Functions. The main destinations of Nigeria exports on Machinery Having Individual Functions were Norway ($1.44M), Cote d'Ivoire ($1.03M), Guinea ($600k), Republic of the Congo ($219k), and Netherlands ($193k).

In 2022, Nigeria imported $192M in Machinery Having Individual Functions, mainly from China ($46.6M), India ($31.1M), Germany ($15.5M), Italy ($14.8M), and United States ($13.2M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Machinery Having Individual Functions EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Norway$1.44M (1%)
Cote d'Ivoire$948k (1.11k%)
Guinea$600k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machinery Having Individual Functions BY Nigeria WERE (2021 - 2022):
Japan-$46k (-100%)
Kenya-$42.2k (-98.7%)
Ethiopia-$40.7k (-99.6%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Machinery Having Individual Functions were:
In 2022, Nigeria's main importing competitors in Machinery Having Individual Functions were:

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Trade Value of Machinery Having Individual Functions by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALNetherlands+ $333k
TOP IMPORT POTENTIALChina+ $25.3M

Machinery Having Individual Functions’s highest export potential is Netherlands. With an export gap of $333k.   Machinery Having Individual Functions’s highest import potential is China with an import gap of $25.3M.

See methodology.

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