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2022
Exports $489MWorld Rnk 4 / 125
Flag Rnk 7 / 1077
2022
Destination $35.5M Netherlands
2021 - 2022
FASTEST GROWING MARKET $35.5MIndonesia
2022
PRODUCT COMPLEXITY IN Cocoa Beans-2.82Rnk 1025 / 1025
2022
Imports $47World Rnk 152 / 159
Flag Rnk 1179 / 1182
2022
Origin $47 Turkey
2021 - 2022
FASTEST GROWING ORIGIN $47Turkey
2022
ECONOMIC COMPLEXITY of Nigeria-1.67Rnk 127 / 133

About

Exports In 2022, Nigeria exported $489M in Cocoa Beans, making it the 4th largest exporter of Cocoa Beans in the world. At the same year, Cocoa Beans was the 7th most exported product in Nigeria. The main destination of Cocoa Beans exports from Nigeria are: Netherlands ($189M), Indonesia ($105M), Malaysia ($87.9M), Canada ($29.4M), and United States ($16.9M).

The fastest growing export markets for Cocoa Beans of Nigeria between 2021 and 2022 were Indonesia ($35.5M), Singapore ($10.5M), and Estonia ($1.28M).

Imports In 2022, Nigeria imported $47 in Cocoa Beans, becoming the 152nd largest importer of Cocoa Beans in the world. At the same year, Cocoa Beans was the 1179th most imported product in Nigeria. Nigeria imports Cocoa Beans primarily from: Turkey ($47).

The fastest growing import markets in Cocoa Beans for Nigeria between 2021 and 2022 were Turkey ($47).

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Cocoa Beans. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$489M
IMPORTS (2022)$47
NET TRADE (2022)$489M

In 2022, Nigeria exported $489M in Cocoa Beans. The main destinations of Nigeria exports on Cocoa Beans were Netherlands ($189M), Indonesia ($105M), Malaysia ($87.9M), Canada ($29.4M), and United States ($16.9M).

In 2022, Nigeria imported $47 in Cocoa Beans, mainly from Turkey ($47).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Cocoa Beans EXPORT MARKETS FOR Nigeria WERE (2021 - 2022):
Indonesia$35.5M (51.4%)
Singapore$10.5M (999%)
Estonia$1.28M (127%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cocoa Beans BY Nigeria WERE (2021 - 2022):
Netherlands-$126M (-40%)
Malaysia-$54.9M (-38.5%)
United States-$36.7M (-68.5%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nigeria's main exporting competitors in Cocoa Beans were:
Cote d'Ivoire $3.33B
Ghana $1.08B
Ecuador $937M
In 2022, Nigeria's main importing competitors in Cocoa Beans were:
Netherlands $1.68B
Malaysia $1.02B
United States $874M

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Trade Value of Cocoa Beans by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $26.1M
TOP IMPORT POTENTIALCote d'Ivoire+ $815

Cocoa Beans’s highest export potential is United States. With an export gap of $26.1M.   Cocoa Beans’s highest import potential is Cote d'Ivoire with an import gap of $815.

See methodology.

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