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2023
Flag → Flag
Exports $534MRnk 25 / 159
2023
Flag → Flag
Top Product $513MCrude Petroleum
2023
Flag → Flag
Exports $24.3MRnk 47 / 166
2023
Flag → Flag
Top Product $16.4MConcentrated Milk
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.22Rnk 52 / 132
2023
Flag  
GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
 GDP$77.2BCURRENT US$
Rnk 81 / 195
2013-2023
Flag
GDP GROWTH25.9%CURRENT US$
Rnk 122 / 195
2023
Flag
GDP PC $1,597CURRENT US$
Rnk 164 / 195
2013-2023
Flag
GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195
2023
Flag
GDP PC$22,798CURRENT US$
Rnk 54 / 196
2013-2023
Flag
GDP PC GROWTH24.3%CURRENT US$
Rnk 90 / 195

About

Nigeria-Uruguay Trade: In 2023, Nigeria exported $534M to Uruguay. The main products that Nigeria exported to Uruguay were Crude Petroleum ($513M), Nitrogenous Fertilizers ($21.4M), and Cocoa Paste ($192k). Over the past 5 years the exports of Nigeria to Uruguay have increased at an annualized rate of 7.9%, from $365M in 2018 to $534M in 2023.

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

Uruguay-Nigeria Trade: In 2023, Uruguay exported $24.3M to Nigeria. The main products that Uruguay exported to Nigeria were Concentrated Milk ($16.4M), Non-fillet Frozen Fish ($6.08M), and Sulfate Chemical Woodpulp ($1.12M). Over the past 5 years the exports of Uruguay to Nigeria have decreased at an annualized rate of 1.34%,  from $26M in 2018 to $24.3M in 2023.

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

Comparison: In 2023,  Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B). That same year, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nigeria exported $534M to Uruguay. The main products exported from Nigeria to Uruguay were Crude Petroleum ($513M), Nitrogenous Fertilizers ($21.4M), and Cocoa Paste ($192k). During the last 5 years the exports of Nigeria to Uruguay have increased at an annualized rate of 7.9%, from $365M in 2018 to $534M in 2023.

In 2018, Uruguay exported $24.3M to Nigeria. The main products exported from Uruguay to Nigeria were Concentrated Milk ($16.4M), Non-fillet Frozen Fish ($6.08M), and Sulfate Chemical Woodpulp ($1.12M). During the last 5 years the exports of Uruguay to Nigeria have decreased at an annualized rate of 1.34%, from $26M in 2023 to $24.3M in 2018.

Exports from Nigeria (Flag) to Uruguay (Flag) (2023)

Exports from Uruguay (Flag) to Nigeria (Flag) (2023)

Latest Data

Trade between Nigeria (Flag) and Uruguay (Flag)

Nigeria Exports

Uruguay Exports

Market Competitiveness

Color
Nigeria
Top DestinationUnited States$6.29B
Uruguay
Top DestinationChina$2.34B

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

In 2023, countries that imported more from Nigeria than Uruguay included Spain ($5.76B), United States ($6.29B), and France ($4.76B).

In 2023, countries that imported more from Uruguay than Nigeria included Brazil ($1.92B), Argentina ($569M), and Chile ($285M).

Difference in imports from Uruguay (Flag) and Nigeria (Flag) (2023)

Comparative Advantage Nigeria - Uruguay

Flow
Scale

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

During 2023, Nigeria had a large net trade with Uruguay in the exports of Mineral Products ($513M), Chemical Products ($21.4M), and Foodstuffs ($268k).

During 2018, Uruguay had a large net trade with Nigeria in the exports of Animal Products ($22.9M), Paper Goods ($1.23M), and Animal and Vegetable Bi-Products ($120k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Uruguay+$48.3MCrude Petroleum
Top Product Potential Uruguay Nigeria+$2.26MConcentrated Milk

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

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

Product Space of Nigeria (Flag) and Uruguay (Flag) (2023)

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