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The BRICS and Nigeria’s Economic Performance: A Trade Intensity Analysis

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  • Maxwell Ekor
  • Oluwatosin Adeniyi
  • Jimoh Saka

Abstract

The study examined Nigeria’s trading relationship with the individual BRICS (Brazil, Russia, India, China and South Africa) by applying a combination of descriptive and econometric techniques. The findings show that Nigeria’s trade intensity is highest with Brazil followed by trade with India and then South Africa. The outcome of the vector autoregressive analysis indicated that Nigeria’s gross domestic product (GDP) reverts faster to equilibrium when there is a shock to exports to and imports from Brazil, as against Nigeria exports to and imports from the other BRICS countries. A key policy implication of the results is that of all the BRICS countries, Brazil appears to have the most potential in terms of improving Nigeria’s trade position.

Suggested Citation

  • Maxwell Ekor & Oluwatosin Adeniyi & Jimoh Saka, 2014. "The BRICS and Nigeria’s Economic Performance: A Trade Intensity Analysis," Economy, Asian Online Journal Publishing Group, vol. 1(2), pages 37-53.
    • Handle: RePEc:aoj:econom:v:1:y:2014:i:2:p:37-53:id:552
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    Keywords

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    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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