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Nigeria : economic indicators and trade with EU
02 May 2023
Authors: MÁCSAI, Györgyi; TIWARI, Mira Manini
Our infographic provides an insight into the economic performance of Nigeria compared to the EU, and looks at the trade dynamics between the two. GDP growth in Nigeria recovered quickly after a slight recession in 2020 during the COVID-19 pandemic. Nigeria is experiencing a growing unemployment rate combined with rising inflation. The EU is Nigeria’s largest trading partner, led by the Netherlands and Spain within the EU-27. The EU’s main service imports from Nigeria are in the transport sector (56% in 2021) and the main service exports are in the broad category of business services.
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