Armenia (ARM) and Nigeria (NGA) Trade | The Observatory of Economic Complexity

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Armenia-Nigeria Trade: In 2022, Armenia exported $17.2k to Nigeria. The main products that Armenia exported to Nigeria were Centrifuges ($10.8k), Hard Liquor ($2.65k), and Embroidery ($2.57k). Over the past 5 years the exports of Armenia to Nigeria have decreased at an annualized rate of 40%, from $222k in 2017 to $17.2k in 2022.

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

Nigeria-Armenia Trade: In 2022, Nigeria exported $1.59M to Armenia. The main products that Nigeria exported to Armenia were Cocoa Beans ($1.59M), Shaving Products ($1.15k), and Perfume Plants ($221). Over the past 5 years the exports of Nigeria to Armenia have increased at an annualized rate of 18.8%, from $674k in 2017 to $1.59M in 2022.

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

Comparison: In 2022, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Armenia exported $17.2k to Nigeria. The main products exported from Armenia to Nigeria were Centrifuges ($10.8k), Hard Liquor ($2.65k), and Embroidery ($2.57k). During the last 5 years the exports of Armenia to Nigeria have decreased at an annualized rate of 40%, from $222k in 2017 to $17.2k in 2022.

In 2017, Nigeria exported $1.59M to Armenia. The main products exported from Nigeria to Armenia were Cocoa Beans ($1.59M), Shaving Products ($1.15k), and Perfume Plants ($221). During the last 5 years the exports of Nigeria to Armenia have increased at an annualized rate of 18.8%, from $674k in 2022 to $1.59M in 2017.

Exports from Armenia () to Nigeria () (2022)

Exports from Nigeria () to Armenia () (2022)

Latest Data

Trade between Armenia () and Nigeria ()

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$2.36B

Nigeria
Top DestinationSpain$9.41B

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

In 2022, countries that imported more from Armenia than Nigeria included Russia ($2.36B), Georgia ($260M), and Iraq ($250M).

In 2022, countries that imported more from Nigeria than Armenia included Spain ($9.41B), India ($8.2B), and France ($4.95B).

Difference in imports from Nigeria () and Armenia () (2022)

Comparative Advantage Armenia - Nigeria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Armenia had a large net trade with Nigeria in the exports of Machines ($12k), Foodstuffs ($2.65k), and Textiles ($2.57k).

During 2017, Nigeria had a large net trade with Armenia in the exports of Foodstuffs ($1.59M), Chemical Products ($1.15k), and Vegetable Products ($221).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Nigeria+$37.4kCentrifuges

Top Product Potential Nigeria Armenia+$6.78kPetroleum 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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Nigeria () (2022)

Exports from Nigeria () to Armenia () (2022)

Latest Data

Trade between Armenia () and Nigeria ()

Armenia Exports

Market Competitiveness

Difference in imports from Nigeria () and Armenia () (2022)

Comparative Advantage Armenia - Nigeria

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Armenia () and Nigeria () (2022)

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