Nigeria (NGA) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Nigeria-Russia Trade: In 2023, Nigeria exported $10M to Russia. The main products that Nigeria exported to Russia were Cut Flowers ($7.46M), Other Oily Seeds ($1.44M), and Cranes ($834k). Over the past 5 years the exports of Nigeria to Russia have decreased at an annualized rate of 23.2%, from $37.4M in 2018 to $10M in 2023.

In 2023, Nigeria did not export any services to Russia.

Russia-Nigeria Trade: In 2023, Russia exported $1.51B to Nigeria. The main products that Russia exported to Nigeria were Refined Petroleum ($1.18B), Wheat ($238M), and Malt ($35.1M). Over the past 5 years the exports of Russia to Nigeria have increased at an annualized rate of 3.72%, from $1.26B in 2018 to $1.51B in 2023.

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 2023, Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B). That same year, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nigeria exported $10M to Russia. The main products exported from Nigeria to Russia were Cut Flowers ($7.46M), Other Oily Seeds ($1.44M), and Cranes ($834k). During the last 5 years the exports of Nigeria to Russia have decreased at an annualized rate of 23.2%, from $37.4M in 2018 to $10M in 2023.

In 2018, Russia exported $1.51B to Nigeria. The main products exported from Russia to Nigeria were Refined Petroleum ($1.18B), Wheat ($238M), and Malt ($35.1M). During the last 5 years the exports of Russia to Nigeria have increased at an annualized rate of 3.72%, from $1.26B in 2023 to $1.51B in 2018.

Exports from Nigeria () to Russia () (2023)

Exports from Russia () to Nigeria () (2023)

Latest Data

Trade between Nigeria () and Russia ()

Nigeria Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nigeria
Top DestinationUnited States$6.29B

Russia
Top DestinationChina$129B

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 2023, countries that imported more from Nigeria than Russia included Spain ($5.76B), United Kingdom ($2.29B), and Cote d'Ivoire ($2.4B).

In 2023, countries that imported more from Russia than Nigeria included China ($129B), India ($66.1B), and Turkey ($31B).

Difference in imports from Russia () and Nigeria () (2023)

Comparative Advantage Nigeria - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nigeria had a large net trade with Russia in the exports of Vegetable Products ($9.05M), Machines ($834k), and Foodstuffs ($137k).

During 2018, Russia had a large net trade with Nigeria in the exports of Mineral Products ($1.18B), Vegetable Products ($273M), and Animal Products ($30.9M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Rus Year

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 () to Nigeria () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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.

About

Historical Data

Bilateral Trade by Products

Exports from Nigeria () to Russia () (2023)

Exports from Russia () to Nigeria () (2023)

Latest Data

Trade between Nigeria () and Russia ()

Nigeria Exports

Russia Exports

Market Competitiveness

Difference in imports from Russia () and Nigeria () (2023)

Comparative Advantage Nigeria - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Nigeria () and Russia () (2023)

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