2023
Exports
$763MWorld Rnk 4 / 134
Flag Rnk 5 / 1096
2023
PRODUCT COMPLEXITY IN Cocoa Beans
-2.94Rnk 1025 / 1025
2023
Imports
$103kWorld Rnk 79 / 159
Flag Rnk 1035 / 1184
2023
ECONOMIC COMPLEXITY of Nigeria
-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $763M in Cocoa Beans, making it the 4th largest exporter of Cocoa Beans in the world. At the same year, Cocoa Beans was the 5th most exported product in Nigeria. The main destination of Cocoa Beans exports from Nigeria are: Netherlands ($313M), Malaysia ($222M), Indonesia ($109M), Italy ($23.7M), and Canada ($22.1M).

The fastest growing export markets for Cocoa Beans of Nigeria between 2022 and 2023 were Malaysia ($133M), Netherlands ($126M), and Italy ($13M).

Imports In 2023, Nigeria imported $103k in Cocoa Beans, becoming the 79th largest importer of Cocoa Beans in the world. At the same year, Cocoa Beans was the 1035th most imported product in Nigeria. Nigeria imports Cocoa Beans primarily from: Netherlands ($103k), United Kingdom ($18), and Belgium ($11).

The fastest growing import markets in Cocoa Beans for Nigeria between 2022 and 2023 were Netherlands ($103k), United Kingdom ($18), and Belgium ($11).

Latest Trends

Dec 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 (2023)$763M
IMPORTS (2023)$103k
NET TRADE (2023)$763M

In 2023, Nigeria exported $763M in Cocoa Beans. The main destinations of Nigeria exports on Cocoa Beans were Netherlands ($313M), Malaysia ($222M), Indonesia ($109M), Italy ($23.7M), and Canada ($22.1M).

In 2023, Nigeria imported $103k in Cocoa Beans, mainly from Netherlands ($103k), United Kingdom ($18), and Belgium ($11).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Cocoa Beans EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
Malaysia$133M (150%)
Netherlands$126M (67.1%)
Italy$13M (122%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cocoa Beans BY Nigeria WERE (2022 - 2023):
Canada-$7.31M (-24.9%)
Germany-$7.21M (-67.9%)
United States-$6.86M (-40.4%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Cocoa Beans were:
In 2023, Nigeria's main importing competitors in Cocoa Beans were:

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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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