Soybeans in Nigeria | The Observatory of Economic Complexity

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Exports In 2022, Nigeria exported $10.7M in Soybeans, making it the 42nd largest exporter of Soybeans in the world. At the same year, Soybeans was the 70th most exported product in Nigeria. The main destination of Soybeans exports from Nigeria are: Canada ($6.78M), Turkey ($1.81M), India ($1.54M), Sri Lanka ($194k), and Angola ($150k).

The fastest growing export markets for Soybeans of Nigeria between 2021 and 2022 were Canada ($6.78M), India ($853k), and Turkey ($719k).

Imports In 2022, Nigeria imported $37.8M in Soybeans, becoming the 48th largest importer of Soybeans in the world. At the same year, Soybeans was the 232nd most imported product in Nigeria. Nigeria imports Soybeans primarily from: Malaysia ($36.3M), China ($1.37M), Hong Kong ($93.1k), United Kingdom ($9.7k), and Netherlands ($5.39k).

The fastest growing import markets in Soybeans for Nigeria between 2021 and 2022 were Malaysia ($36.3M), China ($1.02M), and Hong Kong ($82.6k).

Latest Trends

Mar 2024

Subnational Monthly Trade

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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 Soybeans. 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

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Trade Value

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Growth (%)

Year

EXPORTS (2022)$10.7M

IMPORTS (2022)$37.8M

NET TRADE (2022)-$27.1M

In 2022, Nigeria exported $10.7M in Soybeans. The main destinations of Nigeria exports on Soybeans were Canada ($6.78M), Turkey ($1.81M), India ($1.54M), Sri Lanka ($194k), and Angola ($150k).

In 2022, Nigeria imported $37.8M in Soybeans, mainly from Malaysia ($36.3M), China ($1.37M), Hong Kong ($93.1k), United Kingdom ($9.7k), and Netherlands ($5.39k).

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