2023
Exports
$1.67MWorld Rnk 97 / 186
Flag Rnk 157 / 1096
2023
PRODUCT COMPLEXITY IN Malt Extract
-0.019Rnk 566 / 1025
2023
Imports
$314MWorld Rnk 19 / 224
Flag Rnk 27 / 1184
2023
ECONOMIC COMPLEXITY of Nigeria
-1.75Rnk 129 / 132

About

Exports In 2023, Nigeria exported $1.67M in Malt Extract, making it the 97th largest exporter of Malt Extract in the world. At the same year, Malt Extract was the 157th most exported product in Nigeria. The main destination of Malt Extract exports from Nigeria are: Ghana ($420k), Benin ($326k), United Kingdom ($271k), Italy ($221k), and Niger ($127k).

The fastest growing export markets for Malt Extract of Nigeria between 2022 and 2023 were Ghana ($329k), United Kingdom ($223k), and Italy ($139k).

Imports In 2023, Nigeria imported $314M in Malt Extract, becoming the 19th largest importer of Malt Extract in the world. At the same year, Malt Extract was the 27th most imported product in Nigeria. Nigeria imports Malt Extract primarily from: Ireland ($88.3M), Malaysia ($60M), Germany ($57.6M), Mexico ($27.3M), and New Zealand ($14.6M).

The fastest growing import markets in Malt Extract for Nigeria between 2022 and 2023 were Malaysia ($9.89M), Germany ($8.71M), and Ghana ($6.67M).

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 Malt Extract. 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)$1.67M
IMPORTS (2023)$314M
NET TRADE (2023)-$313M

In 2023, Nigeria exported $1.67M in Malt Extract. The main destinations of Nigeria exports on Malt Extract were Ghana ($420k), Benin ($326k), United Kingdom ($271k), Italy ($221k), and Niger ($127k).

In 2023, Nigeria imported $314M in Malt Extract, mainly from Ireland ($88.3M), Malaysia ($60M), Germany ($57.6M), Mexico ($27.3M), and New Zealand ($14.6M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Malt Extract EXPORT MARKETS FOR Nigeria WERE (2022 - 2023):
Ghana$329k (362%)
United Kingdom$223k (469%)
Italy$139k (169%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Malt Extract BY Nigeria WERE (2022 - 2023):
Canada-$50.6k (-43%)
South Africa-$34.2k (-66.4%)
New Zealand-$20.9k (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nigeria's main exporting competitors in Malt Extract were:
In 2023, Nigeria's main importing competitors in Malt Extract were:

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Trade Value of Malt Extract by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $205k
TOP IMPORT POTENTIALNetherlands+ $9.92M

Malt Extract’s highest export potential is United States. With an export gap of $205k.   Malt Extract’s highest import potential is Netherlands with an import gap of $9.92M.

See methodology.

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