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2022
Exports $1.95BWorld Rnk 9 / 199
Flag Rnk 65 / 96
2022
Destination $27.6M Canada
2021 - 2022
FASTEST GROWING MARKET $27.6MCanada
2022
PRODUCT COMPLEXITY IN Cocoa & cocoa preparations0.14Rnk 508 / 1025
2022
Imports $6.22BWorld Rnk 1 / 225
Flag Rnk 48 / 96
2022
Origin $263M Canada
2021 - 2022
FASTEST GROWING ORIGIN $263MCanada
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $1.95B in Cocoa & cocoa preparations, making it the 9th largest exporter of Cocoa & cocoa preparations in the world. At the same year, Cocoa & cocoa preparations was the 65th most exported product in United States. The main destination of Cocoa & cocoa preparations exports from United States are: Canada ($892M), Mexico ($267M), South Korea ($73.3M), Philippines ($46.8M), and Australia ($45.1M).

The fastest growing export markets for Cocoa & cocoa preparations of United States between 2021 and 2022 were Canada ($27.6M), Philippines ($10.8M), and Saudi Arabia ($8.14M).

Imports In 2022, United States imported $6.22B in Cocoa & cocoa preparations, becoming the 1st largest importer of Cocoa & cocoa preparations in the world. At the same year, Cocoa & cocoa preparations was the 48th most imported product in United States. United States imports Cocoa & cocoa preparations primarily from: Canada ($1.98B), Cote d'Ivoire ($801M), Mexico ($629M), Ghana ($288M), and Netherlands ($263M).

The fastest growing import markets in Cocoa & cocoa preparations for United States between 2021 and 2022 were Canada ($263M), Mexico ($106M), and Malaysia ($61.9M).

COMPANIES In 2023, leading companies such as IKEA Group (9.53k), Barry Callebaut (1.53k), and Storck (683) were at the forefront of shipping Cocoa & cocoa preparations to the United States.

Latest Trends

June 2024

About

Overview In June 2024 United States' Cocoa & cocoa preparations exports accounted up to $278M and imports accounted up to $603M, resulting in a negative trade balance of $325M. Between June 2023 and June 2024 the exports of United States'   Cocoa & cocoa preparations have increased by $111M (66.6%) from $167M to $278M, while imports increased by $137M (29.3%) from $466M to $603M.

Destinations In June 2024, Cocoa & cocoa preparations were exported mostly to Canada ($154M), Mexico ($33.9M), Estonia ($11.9M), Netherlands ($10.5M), and United Kingdom ($6.48M), and were imported mostly from Canada ($212M), Mexico ($50.1M), Ecuador ($43.9M), Indonesia ($35.7M), and Cote d'Ivoire ($33.8M).

Growth In June 2024, the increase in Cocoa & cocoa preparations's year-by-year exports was explained primarily by an increase in exports to Canada ($7.88M or 11.8%), Singapore ($3.16M or 236%), and Guatemala ($1.04M or 95.8%). In June 2024, the increase in Cocoa & cocoa preparations's year-by-year imports was explained primarily by an increase in imports from Cote d'Ivoire ($29M or 26.5%), Ghana ($19.5M or 170%), and Canada ($16M or 11.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$111M(66.6%)
IMPORT GROWTH (June 2023 - June 2024)$137M(29.3%)
MAIN EXPORTER (June 2024)Pennsylvania$95.4M
MAIN DESTINATION (June 2024)Canada$154M

This section shows Cocoa & cocoa preparations's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Cocoa & cocoa preparations over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.95B
IMPORTS (2022)$6.22B
NET TRADE (2022)-$4.27B

In 2022, United States exported $1.95B in Cocoa & cocoa preparations. The main destinations of United States exports on Cocoa & cocoa preparations were Canada ($892M), Mexico ($267M), South Korea ($73.3M), Philippines ($46.8M), and Australia ($45.1M).

In 2022, United States imported $6.22B in Cocoa & cocoa preparations, mainly from Canada ($1.98B), Cote d'Ivoire ($801M), Mexico ($629M), Ghana ($288M), and Netherlands ($263M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Cocoa & cocoa preparations EXPORT MARKETS FOR United States WERE (2021 - 2022):
Canada$27.6M (3.2%)
Philippines$10.8M (30%)
Saudi Arabia$8.14M (39.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cocoa & cocoa preparations BY United States WERE (2021 - 2022):
Vietnam-$27.7M (-41.1%)
China-$10.6M (-32.4%)
Russia-$8.08M (-92.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Cocoa & cocoa preparations were:
Germany $6.74B
Cote d'Ivoire $5.39B
Netherlands $5.36B
In 2022, United States's main importing competitors in Cocoa & cocoa preparations were:
Netherlands $4.41B
Germany $4.41B

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Trade Value of Cocoa & cocoa preparations by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited Kingdom+ $26M
TOP IMPORT POTENTIALGermany+ $122M

Cocoa & cocoa preparations’s highest export potential is United Kingdom. With an export gap of $26M.   Cocoa & cocoa preparations’s highest import potential is Germany with an import gap of $122M.

See methodology.

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