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Pricing

2022
Flag → Flag
Exports $4.19kRnk 157 / 166
2022
Flag → Flag
Top Product $4.09kSpices
2022
Flag → Flag
Exports $150kRnk 60 / 113
2022
Flag → Flag
Top Product $76.4kOxygen Amino Compounds
2022
Flag
Economic Complexity (ECI) ECI -1.67Rnk 127 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.26Rnk 120 / 133
2022
Flag  
GDP$477BCURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP GROWTH2.89%CURRENT US$
Rnk 159 / 186
2022
Flag
 GDP$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH36.8%CURRENT US$
Rnk 90 / 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$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH12.4%CURRENT US$
Rnk 107 / 186

About

Nigeria-Mongolia Trade: In 2022, Nigeria exported $4.19k to Mongolia. The main products that Nigeria exported to Mongolia were Spices ($4.09k) and Other Oily Seeds ($99). Over the past 5 years the exports of Nigeria to Mongolia have increased at an annualized rate of 45.3%, from $648 in 2017 to $4.19k in 2022.

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

Mongolia-Nigeria Trade: In 2022, Mongolia exported $150k to Nigeria. The main products that Mongolia exported to Nigeria were Oxygen Amino Compounds ($76.4k), Yeast ($68k), and Planes, Helicopters, and/or Spacecraft ($5.31k). Over the past 5 years the exports of Mongolia to Nigeria have increased at an annualized rate of 196%,  from $659 in 2017 to $150k in 2022.

In 2022, Mongolia 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, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nigeria exported $4.19k to Mongolia. The main products exported from Nigeria to Mongolia were Spices ($4.09k) and Other Oily Seeds ($99). During the last 5 years the exports of Nigeria to Mongolia have increased at an annualized rate of 45.3%, from $648 in 2017 to $4.19k in 2022.

In 2017, Mongolia exported $150k to Nigeria. The main products exported from Mongolia to Nigeria were Oxygen Amino Compounds ($76.4k), Yeast ($68k), and Planes, Helicopters, and/or Spacecraft ($5.31k). During the last 5 years the exports of Mongolia to Nigeria have increased at an annualized rate of 196%, from $659 in 2022 to $150k in 2017.

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

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

Market Competitiveness

Color
Nigeria
Top DestinationSpain$9.41B
Mongolia
Top DestinationChina$10.6B

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

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

In 2022, countries that imported more from Mongolia than Nigeria included China ($10.6B), Switzerland ($1.98B), and Russia ($112M).

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

Comparative Advantage Nigeria - Mongolia

Flow
Scale

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

During 2022, Nigeria had a large net trade with Mongolia in the exports of Vegetable Products ($4.19k).

During 2017, Mongolia had a large net trade with Nigeria in the exports of Chemical Products ($76.4k), Foodstuffs ($68k), and Transportation ($5.31k).

Potential Exports

Potential Exports

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

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

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

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