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Pricing

2022
Flag → Flag
Exports $4.8MRnk 80 / 166
2022
Flag → Flag
Top Product $3.49MCut Flowers
2022
Flag → Flag
Exports $543MRnk 58 / 138
2022
Flag → Flag
Top Product $245MRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.43Rnk 47 / 133
2022
Flag  
GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
 GDP$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
GDP PC $2,184CURRENT US$
Rnk 146 / 186
2012-2022
Flag
GDP PC GROWTH-19.9%CURRENT US$
Rnk 173 / 186
2022
Flag
GDP PC$15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

About

Nigeria-Russia Trade: In 2022, Nigeria exported $4.8M to Russia. The main products that Nigeria exported to Russia were Cut Flowers ($3.49M), Perfume Plants ($662k), and Other Oily Seeds ($318k). Over the past 5 years the exports of Nigeria to Russia have decreased at an annualized rate of 36.3%, from $45.8M in 2017 to $4.8M in 2022.

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

Russia-Nigeria Trade: In 2022, Russia exported $543M to Nigeria. The main products that Russia exported to Nigeria were Refined Petroleum ($245M), Non-fillet Frozen Fish ($151M), and Wheat ($63.5M). Over the past 5 years the exports of Russia to Nigeria have decreased at an annualized rate of 4.13%,  from $670M in 2017 to $543M in 2022.

In 2020, Russia exported services to Nigeria worth $2.65M, with Other business services ($1.03M), Computer and information services ($722k), and Transportation ($567k) being the largest in terms of value.

Comparison: In 2022,  Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $4.8M to Russia. The main products exported from Nigeria to Russia were Cut Flowers ($3.49M), Perfume Plants ($662k), and Other Oily Seeds ($318k). During the last 5 years the exports of Nigeria to Russia have decreased at an annualized rate of 36.3%, from $45.8M in 2017 to $4.8M in 2022.

In 2017, Russia exported $543M to Nigeria. The main products exported from Russia to Nigeria were Refined Petroleum ($245M), Non-fillet Frozen Fish ($151M), and Wheat ($63.5M). During the last 5 years the exports of Russia to Nigeria have decreased at an annualized rate of 4.13%, from $670M in 2022 to $543M in 2017.

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

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

Latest Data

Trade between Nigeria (Flag) and Russia (Flag)

Nigeria Exports

Russia Exports

Market Competitiveness

Color
Nigeria
Top DestinationSpain$9.41B
Russia
Top DestinationChina$101B

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

In 2022, countries that imported more from Nigeria than Russia included Spain ($9.41B), Indonesia ($3.83B), and Cote d'Ivoire ($1.97B).

In 2022, countries that imported more from Russia than Nigeria included China ($101B), India ($40.4B), and Germany ($27.7B).

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

Comparative Advantage Nigeria - Russia

Flow
Scale

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

During 2022, Nigeria had a large net trade with Russia in the exports of Vegetable Products ($4.71M), Foodstuffs ($86.8k), and Chemical Products ($4.39k).

During 2017, Russia had a large net trade with Nigeria in the exports of Mineral Products ($247M), Animal Products ($160M), and Vegetable Products ($71.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Russia+$1.44MCut Flowers
Top Product Potential Russia Nigeria+$279MRefined Petroleum

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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Bilateral Service Trade

In 2020, Russia exported services to Nigeria worth $2.65M, with Other business services ($1.03M), Computer and information services ($722k), and Transportation ($567k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia (Flag) to Nigeria (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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