2022
Flag  
GDP
$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH
1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
 GDP
$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH
2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
GDP PC 
$15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH
-0.49%CURRENT US$
Rnk 145 / 186
2022
Flag
GDP PC
$2,184CURRENT US$
Rnk 146 / 186
2012-2022
Flag
GDP PC GROWTH
-19.9%CURRENT US$
Rnk 173 / 186

About

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.

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.

Comparison: In 2022,  Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). 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
Value

In 2022, 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 2017 to $543M in 2022.

In 2017, 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 2022 to $4.8M in 2017.

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

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

Market Competitiveness

Color
Russia
Top Destination
China$101B
Nigeria
Top Destination
Spain$9.41B

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

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

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

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

Comparative Advantage Russia - Nigeria

Flow
Scale

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

During 2022, Russia had a large net trade with Nigeria in the exports of Mineral Products ($247M), Animal Products ($160M), and Vegetable Products ($71.4M).

During 2017, Nigeria had a large net trade with Russia in the exports of Vegetable Products ($4.71M), Foodstuffs ($86.8k), and Chemical Products ($4.39k).

Potential Exports

Potential Exports

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

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 Russia and Nigeria. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Nigeria. Similarly, a dot/product with the flag of Nigeria indicates it has a comparative advantage over Russia.

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

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