2022
Flag  
GDP
$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH
16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP
$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH
2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
GDP PC 
$49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH
11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC
$2,184CURRENT US$
Rnk 146 / 186
2012-2022
Flag
GDP PC GROWTH
-19.9%CURRENT US$
Rnk 173 / 186

About

Belgium-Nigeria Trade: In 2022, Belgium exported $7.72B to Nigeria. The main products that Belgium exported to Nigeria were Refined Petroleum ($6.83B), Vaccines, blood, antisera, toxins and cultures ($515M), and Malt ($32M). Over the past 5 years the exports of Belgium to Nigeria have increased at an annualized rate of 46.3%, from $1.15B in 2017 to $7.72B in 2022.

In 2020, Belgium exported services to Nigeria worth $32M, with Transportation ($13.7M), Other business services ($12.6M), and Financial services ($3.43M) being the largest in terms of value.

Nigeria-Belgium Trade: In 2022, Nigeria exported $719M to Belgium. The main products that Nigeria exported to Belgium were Petroleum Gas ($236M), Refined Petroleum ($183M), and Crude Petroleum ($148M). Over the past 5 years the exports of Nigeria to Belgium have increased at an annualized rate of 30.7%,  from $189M in 2017 to $719M in 2022.

In 2022, Nigeria did not export any services to Belgium.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $7.72B to Nigeria. The main products exported from Belgium to Nigeria were Refined Petroleum ($6.83B), Vaccines, blood, antisera, toxins and cultures ($515M), and Malt ($32M). During the last 5 years the exports of Belgium to Nigeria have increased at an annualized rate of 46.3%, from $1.15B in 2017 to $7.72B in 2022.

In 2017, Nigeria exported $719M to Belgium. The main products exported from Nigeria to Belgium were Petroleum Gas ($236M), Refined Petroleum ($183M), and Crude Petroleum ($148M). During the last 5 years the exports of Nigeria to Belgium have increased at an annualized rate of 30.7%, from $189M in 2022 to $719M in 2017.

Exports from Belgium (Flag) to Nigeria (Flag) (2022)

Exports from Nigeria (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top Destination
Germany$91.9B
Nigeria
Top Destination
Spain$9.41B

This map shows whether countries import more from Belgium or Nigeria. Each country is colored based on the difference in imports they receive from Belgium and Nigeria or the difference in the growth in imports.

In 2022, countries that imported more from Belgium than Nigeria included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2022, countries that imported more from Nigeria than Belgium included Indonesia ($3.83B), Cote d'Ivoire ($1.97B), and Gibraltar ($1.15B).

Difference in imports from Nigeria (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Nigeria

Flow
Scale

This chart compares trade between Belgium and Nigeria by product, considering products traded by both, Belgium and Nigeria.

During 2022, Belgium had a large net trade with Nigeria in the exports of Mineral Products ($6.83B), Chemical Products ($581M), and Machines ($79.3M).

During 2017, Nigeria had a large net trade with Belgium in the exports of Mineral Products ($623M), Transportation ($46.9M), and Animal Products ($13.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Nigeria+$31.1MCars
Top Product Potential Nigeria Belgium+$282MPetroleum Gas

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and Nigeria. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Nigeria (Flag) (2022)

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