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Pricing

2022
Flag → Flag
Exports $1.59MRnk 97 / 166
2022
Flag → Flag
Top Product $1.59MCocoa Beans
2022
Flag → Flag
Exports $17.2kRnk 108 / 129
2022
Flag → Flag
Top Product $10.8kCentrifuges
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.00081Rnk 66 / 133
2022
Flag  
GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
 GDP$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
Flag
GDP GROWTH83.7%CURRENT US$
Rnk 25 / 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$7,014CURRENT US$
Rnk 91 / 186
2012-2022
Flag
GDP PC GROWTH92.5%CURRENT US$
Rnk 10 / 186

About

Nigeria-Armenia Trade: In 2022, Nigeria exported $1.59M to Armenia. The main products that Nigeria exported to Armenia were Cocoa Beans ($1.59M), Shaving Products ($1.15k), and Perfume Plants ($221). Over the past 5 years the exports of Nigeria to Armenia have increased at an annualized rate of 18.8%, from $674k in 2017 to $1.59M in 2022.

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

Armenia-Nigeria Trade: In 2022, Armenia exported $17.2k to Nigeria. The main products that Armenia exported to Nigeria were Centrifuges ($10.8k), Hard Liquor ($2.65k), and Embroidery ($2.57k). Over the past 5 years the exports of Armenia to Nigeria have decreased at an annualized rate of 22.6%,  from $222k in 2017 to $17.2k in 2022.

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

Comparison: In 2022,  Nigeria ranked 127 in the Economic Complexity Index (ECI -1.67), and 51 in total exports ($70.7B). That same year, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $1.59M to Armenia. The main products exported from Nigeria to Armenia were Cocoa Beans ($1.59M), Shaving Products ($1.15k), and Perfume Plants ($221). During the last 5 years the exports of Nigeria to Armenia have increased at an annualized rate of 18.8%, from $674k in 2017 to $1.59M in 2022.

In 2017, Armenia exported $17.2k to Nigeria. The main products exported from Armenia to Nigeria were Centrifuges ($10.8k), Hard Liquor ($2.65k), and Embroidery ($2.57k). During the last 5 years the exports of Armenia to Nigeria have decreased at an annualized rate of 22.6%, from $222k in 2022 to $17.2k in 2017.

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

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

Latest Data

Trade between Nigeria (Flag) and Armenia (Flag)

Armenia Exports

Market Competitiveness

Color
Nigeria
Top DestinationSpain$9.41B
Armenia
Top DestinationRussia$2.36B

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

In 2022, countries that imported more from Nigeria than Armenia included Spain ($9.41B), India ($8.2B), and France ($4.95B).

In 2022, countries that imported more from Armenia than Nigeria included Russia ($2.36B), Georgia ($260M), and Iraq ($250M).

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

Comparative Advantage Nigeria - Armenia

Flow
Scale

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

During 2022, Nigeria had a large net trade with Armenia in the exports of Foodstuffs ($1.59M), Chemical Products ($1.15k), and Vegetable Products ($221).

During 2017, Armenia had a large net trade with Nigeria in the exports of Machines ($12k), Foodstuffs ($2.65k), and Textiles ($2.57k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nigeria Armenia+$6.78kPetroleum Gas
Top Product Potential Armenia Nigeria+$37.4kCentrifuges

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

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

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