Nigeria (NGA) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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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 40%, 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

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 40%, from $222k in 2022 to $17.2k in 2017.

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

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

Latest Data

Trade between Nigeria () and Armenia ()

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

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 () and Nigeria () (2022)

Comparative Advantage Nigeria - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Year

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.

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Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Nigeria () and Armenia ()

Armenia Exports

Market Competitiveness

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

Comparative Advantage Nigeria - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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