Dem. People's Rep. of Korea-Nigeria Bilateral Trade Analysis 2023
Complete trade statistics: $7.00M total volume •Dem. People's Rep. of Korea surplus: $4.33M
Dem. People's Rep. of Korea → Nigeria
$5.66M
Exports (2023)
Nigeria → Dem. People's Rep. of Korea
$1.33M
Imports (2023)
Trade Balance
$4.33M
Surplus for Dem. People's Rep. of Korea
Total Trade
$7.00M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Dem. People's Rep. of Korea and Nigeria. Green line shows exports from Dem. People's Rep. of Korea, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Dem. People's Rep. of Korea-Nigeria commercial relationship and competitive positioning in global markets.
Dem. People's Rep. of Korea → Nigeria Exports
Export Market Intelligence
🎯 Strategic Export Focus
Dem. People's Rep. of Korea's export portfolio to Nigeria demonstrates strategic specialization, with fish: frozen, herrings (clupea harengus, clupea pallasii), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99 representing a key competitive advantage in this bilateral market.
Nigeria → Dem. People's Rep. of Korea Imports
Import Dependency Profile
📦 Import Strategy Analysis
Dem. People's Rep. of Korea's import pattern from Nigeria reveals significant dependencyin aluminium: unwrought, alloys, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Dem. People's Rep. of Korea demonstrates competitive strength in exportingfish: frozen, herrings (clupea harengus, clupea pallasii), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99 to Nigeria, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $7.00M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Dem. People's Rep. of Korea-Nigeria Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $7.00 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Dem. People's Rep. of Korea maintains a surplus of $4.33 million
- Export Focus: Dem. People's Rep. of Korea's primary exports include fish: frozen, herrings (clupea harengus, clupea pallasii), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99, fish: frozen, mackerel (scomber scombrus, scomber australasicus, scomber japonicus), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99, ethylene polymers: in primary forms, polyethylene having a specific gravity of 0.94 or more
- Import Dependencies: Key imports from Nigeria include aluminium: unwrought, alloys, aluminium: waste and scrap, lead: unwrought, unrefined, not containing by weight antimony as the principal other element
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $7.00M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Dem. People's Rep. of Korea leveraging its comparative advantages in fish: frozen, herrings (clupea harengus, clupea pallasii), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Dem. People's Rep. of Korea's specialization in fish: frozen, herrings (clupea harengus, clupea pallasii), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99complements Nigeria's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in aluminium: unwrought, alloys.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $7.00M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $7.00M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $7.00 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in fish: frozen, herrings (clupea harengus, clupea pallasii), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99 and aluminium: unwrought, alloys demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Dem. People's Rep. of Korea's trade surplus of $4.33 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Dem. People's Rep. of Korea and Nigeria represents a total trade volume of $7.00 million in 2023. This partnership demonstrates a favorable trade balance for Dem. People's Rep. of Korea, with exports exceeding importsby $4.33 million.
Export Strengths
Dem. People's Rep. of Korea's exports to Nigeria total $5.66 million, with competitive advantages in fish: frozen, herrings (clupea harengus, clupea pallasii), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99, representing $1.86M or32.8% of bilateral exports.
Import Dependencies
Imports from Nigeria amount to $1.33 million, highlighting economic interdependence in aluminium: unwrought, alloys, with Aluminium: unwrought, alloys comprising78.5% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Dem. People's Rep. of Korea's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Dem. People's Rep. of Korea and Nigeria in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023