Singapore
↔
Nigeria

Singapore-Nigeria Bilateral Trade Analysis 2023

Complete trade statistics: $9.58B total volume •Singapore surplus: $9.11B

Singapore → Nigeria

$9.34B

Exports (2023)

Nigeria → Singapore

$231.40M

Imports (2023)

Trade Balance

$9.11B

Surplus for Singapore

Total Trade

$9.58B

Combined Volume

Trade Flow Visualization

Direct trade relationship between Singapore and Nigeria. Green line shows exports from Singapore, red line shows imports.

Detailed Product Trade Analysis

Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Singapore-Nigeria commercial relationship and competitive positioning in global markets.

Singapore → Nigeria Exports

$9.34B
2023 Total

Export Market Intelligence

Product Diversity:
Highly Diversified
Market Share:
98.1% top product
1Tanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehicles
$9.17B
98.1% of exports
2Electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits
$16.90M
0.2% of exports
3Tools: for working in the hand, parts of chain saws, with self-contained non-electric motor
$11.00M
0.1% of exports
4Cruise ships, excursion boats and similar vessels, principally designed for the transport of persons, ferry boats of all kinds
$9.17M
0.1% of exports
5Vehicles: spark-ignition internal combustion piston engine, for transport of goods, (of a g.v.w. not exceeding 5 tonnes), n.e.c. in item no 8704.1
$8.53M
0.1% of exports
6Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils
$8.39M
0.1% of exports
7Food preparations: of flour, meal, starch, malt extract or milk products, suitable for infants or young children, put up for retail sale
$7.88M
0.1% of exports
8Vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods
$5.05M
0.1% of exports
9Uncoated paper and paperboard (not 4801 or 4803): printing, writing or graphic, 10% or less by weight of mechanical or chemi-mechanical processed fibre, weight 40-150g/m2, n.e.c. in item no. 4802.55 or 4802.56
$4.86M
0.1% of exports
10Propylene, other olefin polymers: polypropylene in primary forms
$4.79M
0.1% of exports

🎯 Strategic Export Focus

Singapore's export portfolio to Nigeria demonstrates strong diversification across multiple sectors, with tanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehicles representing a key competitive advantage in this bilateral market.

Nigeria → Singapore Imports

$231.40M
2023 Total

Import Dependency Profile

Supply Diversity:
Well Diversified
Critical Imports:
92.9% concentration
1Oils: petroleum oils and oils obtained from bituminous minerals, crude
$214.93M
92.9% of imports
2Cocoa beans: whole or broken, raw or roasted
$11.95M
5.2% of imports
3Turbo-propellers: of a power exceeding 1100kW
$858,093
0.4% of imports
4Soya beans: other than seed, whether or not broken
$855,493
0.4% of imports
5Flours and meals: of soya beans
$603,287
0.3% of imports
6Soya beans: seed, whether or not broken
$355,602
0.2% of imports
7Oil seeds: sesamum seeds, whether or not broken
$317,049
0.1% of imports
8Nuts, edible: cashew nuts, fresh or dried, shelled
$303,058
0.1% of imports
9Chocolate and other food preparations containing cocoa: n.e.c. in chapter 18
$173,716
0.1% of imports
10Iron or steel (excluding cast iron or stainless steel): seamless, drill pipe, of a kind used in drilling for oil or gas
$128,192
0.1% of imports

📦 Import Strategy Analysis

Singapore's import pattern from Nigeria reveals significant dependencyin oils: petroleum oils and oils obtained from bituminous minerals, crude, highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

Singapore demonstrates competitive strength in exportingtanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehicles to Nigeria, leveraging comparative advantages.

Export Leader in 20+ Categories
🔄

Trade Complementarity

The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.

Specialized Exchange
📈

Growth Potential

The $9.58B trade volume indicates substantial economic integration with room for expansion in emerging sectors.

Significant Partnership

Executive Summary: Singapore-Nigeria Trade Relationship

Key Trade Highlights 2023

  • Total Trade Volume: $9.58 billionrepresenting a significant bilateral economic relationship
  • Trade Balance: Singapore maintains a surplus of $9.11 billion
  • Export Focus: Singapore's primary exports include tanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehicles, electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits, tools: for working in the hand, parts of chain saws, with self-contained non-electric motor
  • Import Dependencies: Key imports from Nigeria include oils: petroleum oils and oils obtained from bituminous minerals, crude, cocoa beans: whole or broken, raw or roasted, turbo-propellers: of a power exceeding 1100kw

Strategic Trade Indicators

Trade IntensityHigh
Export DiversificationDiversified
Trade Balance HealthImbalanced

📈 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 $9.58B 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 Singapore leveraging its comparative advantages in tanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehicles.

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

1

Comparative Advantage

Singapore's specialization in tanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehiclescomplements Nigeria's demand patterns, creating natural trade synergies.

2

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in oils: petroleum oils and oils obtained from bituminous minerals, crude.

3

Market Access & Trade Policy

Favorable trade agreements and market access conditions have facilitated the growth of this $9.58B bilateral relationship.

Trade Pattern Insights

Trade ComplementarityAsymmetric
Seasonal VariationsModerate
Product ConcentrationLow
Market DependencyHigh
🔮

Trade Relationship Outlook

The $9.58B 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 $9.58 billion bilateral trade volume represents a important trade relationshipfor both economies.

Economic Significance: Moderate
🏭

Industrial Integration

Trade flows in tanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehicles and oils: petroleum oils and oils obtained from bituminous minerals, crude demonstrate deep industrial linkages and supply chain integration.

Supply Chain Integration: Diversified
⚖️

Trade Balance Effects

Singapore's trade surplus of $9.11 billion strengthens its overall economic position in this bilateral relationship.

Balance Impact: Export Advantage

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors
Technology transfer and innovation cooperation in electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits present expansion opportunities.
Market Diversification
Beyond current focus on oils: petroleum oils and oils obtained from bituminous minerals, crude, new product categories offer potential for trade expansion.

⚠️Risk Factors

Supply Chain Vulnerabilities
High trade imbalance may create supply chain risks
Market Competition
Global competition in tanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehicles may affect future market positioning.

🎯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 Singapore and Nigeria represents a total trade volume of $9.58 billion in 2023. This partnership demonstrates a favorable trade balance for Singapore, with exports exceeding importsby $9.11 billion.

Export Strengths

Singapore's exports to Nigeria total $9.34 billion, with competitive advantages in tanks and other armoured fighting vehicles: motorised, whether or not fitted with weapons, and parts of such vehicles, representing $9.17B or98.1% of bilateral exports.

Import Dependencies

Imports from Nigeria amount to $231.40 million, highlighting economic interdependence in oils: petroleum oils and oils obtained from bituminous minerals, crude, with Oils: petroleum oils and oils obtained from bituminous minerals, crude comprising92.9% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Singapore'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 Singapore and Nigeria in multiple formats.

Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023