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Pricing

2023
Flag → Flag
Exports $4.67MRnk 14 / 101
2023
Flag → Flag
Top Product $1.58MOxygen Amino Compounds
2023
Flag → Flag
Exports $4.55kRnk 4 / 0
2023
Flag
Economic Complexity (ECI) ECI -1.32Rnk 123 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.75Rnk 129 / 132
2023
Flag  
GDP$20.3BCURRENT US$
Rnk 120 / 195
2013-2023
Flag
GDP GROWTH61.5%CURRENT US$
Rnk 51 / 195
2023
Flag
 GDP$364BCURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP GROWTH-30%CURRENT US$
Rnk 191 / 195
2023
Flag
GDP PC $5,839CURRENT US$
Rnk 116 / 195
2013-2023
Flag
GDP PC GROWTH34.5%CURRENT US$
Rnk 70 / 195
2023
Flag
GDP PC$1,597CURRENT US$
Rnk 164 / 196
2013-2023
Flag
GDP PC GROWTH-44.4%CURRENT US$
Rnk 192 / 195

About

Mongolia-Nigeria Trade: In 2023, Mongolia exported $4.67M to Nigeria. The main products that Mongolia exported to Nigeria were Oxygen Amino Compounds ($1.58M), Coconuts, Brazil Nuts, and Cashews ($705k), and Light Rubberized Knitted Fabric ($616k). Over the past 7 years the exports of Mongolia to Nigeria have increased at an annualized rate of 179%, from $3.59k in 2016 to $4.67M in 2023.

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

Nigeria-Mongolia Trade: In 2023, Nigeria exported $4.55k to Mongolia. The main products that Nigeria exported to Mongolia were N/A. Over the past 7 years the exports of Nigeria to Mongolia have increased at an annualized rate of 46.1%,  from $683 in 2016 to $4.55k in 2023.

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

Comparison: In 2023,  Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B). That same year, Nigeria ranked 129 in the Economic Complexity Index (ECI -1.75), and 52 in total exports ($61B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Mongolia exported $4.67M to Nigeria. The main products exported from Mongolia to Nigeria were Oxygen Amino Compounds ($1.58M), Coconuts, Brazil Nuts, and Cashews ($705k), and Light Rubberized Knitted Fabric ($616k). During the last 7 years the exports of Mongolia to Nigeria have increased at an annualized rate of 179%, from $3.59k in 2016 to $4.67M in 2023.

In 2017, Nigeria exported $4.55k to Mongolia. There were not main exports from Nigeria to Mongolia in 2017. During the last 5 years the exports of Nigeria to Mongolia have increased at an annualized rate of 46.1%, from $683 in 2022 to $4.55k in 2017.

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

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

Market Competitiveness

Color
Mongolia
Top DestinationChina$13.1B
Nigeria
Top DestinationUnited States$6.29B

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

In 2023, countries that imported more from Mongolia than Nigeria included China ($13.1B), Finland ($22.8M), and Kazakhstan ($8.71M).

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

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

Comparative Advantage Mongolia - Nigeria

Flow
Scale

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

During 2023, Mongolia had a large net trade with Nigeria in the exports of Chemical Products ($2.36M), Vegetable Products ($1.07M), and Textiles ($626k).

During 2017, Nigeria had a large net trade with Mongolia in the exports of .

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia Nigeria+$29.9kPlanes, Helicopters, and/or Spacecraft
Top Product Potential Nigeria Mongolia+$7.15kSpices

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

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

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