2022
Flag  
GDP
$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH
5.49%CURRENT US$
Rnk 154 / 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 
$29,350CURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP PC GROWTH
3.63%CURRENT US$
Rnk 132 / 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

Spain-Nigeria Trade: In 2022, Spain exported $376M to Nigeria. The main products that Spain exported to Nigeria were Alkylbenzenes and Alkylnaphthalenes ($37.6M), Unglazed Ceramics ($32.3M), and Refined Petroleum ($20.4M). Over the past 5 years the exports of Spain to Nigeria have decreased at an annualized rate of 0.047%, from $377M in 2017 to $376M in 2022.

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

Nigeria-Spain Trade: In 2022, Nigeria exported $9.41B to Spain. The main products that Nigeria exported to Spain were Crude Petroleum ($6.72B), Petroleum Gas ($2.54B), and Tanned Sheep Hides ($26.4M). Over the past 5 years the exports of Nigeria to Spain have increased at an annualized rate of 13.4%,  from $5.02B in 2017 to $9.41B in 2022.

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

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). 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, Spain exported $376M to Nigeria. The main products exported from Spain to Nigeria were Alkylbenzenes and Alkylnaphthalenes ($37.6M), Unglazed Ceramics ($32.3M), and Refined Petroleum ($20.4M). During the last 5 years the exports of Spain to Nigeria have decreased at an annualized rate of 0.047%, from $377M in 2017 to $376M in 2022.

In 2017, Nigeria exported $9.41B to Spain. The main products exported from Nigeria to Spain were Crude Petroleum ($6.72B), Petroleum Gas ($2.54B), and Tanned Sheep Hides ($26.4M). During the last 5 years the exports of Nigeria to Spain have increased at an annualized rate of 13.4%, from $5.02B in 2022 to $9.41B in 2017.

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

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

Market Competitiveness

Color
Spain
Top Destination
France$65.2B
Nigeria
Top Destination
Spain$9.41B

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

In 2022, countries that imported more from Spain than Nigeria included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

In 2022, countries that imported more from Nigeria than Spain included India ($8.2B), Indonesia ($3.83B), and Cote d'Ivoire ($1.97B).

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

Comparative Advantage Spain - Nigeria

Flow
Scale

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

During 2022, Spain had a large net trade with Nigeria in the exports of Chemical Products ($94.1M), Foodstuffs ($49.1M), and Machines ($46.9M).

During 2017, Nigeria had a large net trade with Spain in the exports of Mineral Products ($9.26B), Animal Hides ($38.8M), and Plastics and Rubbers ($35.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Nigeria+$54.3MRefined Petroleum
Top Product Potential Nigeria Spain+$1.37BPetroleum 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 Spain and Nigeria. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Spain.

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

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