Price for Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria - 2022

Contents:

1. Price for Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria (CIF) - 2022
2. Price for Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria (FOB) - 2022
3. Imports of Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria
4. Exports of Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria

Price for Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria (CIF) - 2022

The average import price for drawing, marking-out or mathematical calculating instrumentses stood at $4.8 per unit in 2022, which is down by -21.2% against the previous year. Over the period under review, the import price, however, saw a prominent increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 68% against the previous year. Over the period under review, average import prices attained the maximum at $6.1 per unit in 2021, and then dropped notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($15 per unit), while the price for China totaled $4.1 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.6%).

Price for Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria (FOB) - 2022

In 2022, the average export price for drawing, marking-out or mathematical calculating instrumentses amounted to $16 per unit, shrinking by -94% against the previous year. In general, the export price, however, showed buoyant growth. The growth pace was the most rapid in 2021 an increase of 1,060%. As a result, the export price reached the peak level of $262 per unit, and then dropped markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($17 per unit), while the average price for exports to Cameroon ($1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria

After two years of decline, overseas purchases of drawing, marking-out or mathematical calculating instrumentses increased by 50% to 681K units in 2022. Over the period under review, imports, however, showed a significant decrease. Over the period under review, imports of hit record highs at 12M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of drawing, marking-out or mathematical calculating instrumentses surged to $3.3M in 2022. Overall, imports, however, showed a sharp reduction. Over the period under review, imports of attained the maximum at $40M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Top Suppliers of Drawing, Marking-Out or Mathematical Calculating Instruments to Nigeria in 2022:

1. China (644.8K units)
2. Germany (16.1K units)

Exports of Drawing, Marking-Out or Mathematical Calculating Instruments in Nigeria

Exports of drawing, marking-out or mathematical calculating instrumentses from Nigeria skyrocketed to 147 units in 2022, jumping by 96% on the year before. Over the period under review, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 971% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, exports of drawing, marking-out or mathematical calculating instrumentses reduced dramatically to $2.3K in 2022. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 12,332%. As a result, the exports attained the peak of $20K, and then contracted rapidly in the following year.

Top Export Markets for Drawing, Marking-Out or Mathematical Calculating Instruments from Nigeria in 2022:

1. Ghana (127.0 units)
2. Italy (13.0 units)
3. Burkina Faso (2.0 units)
4. Sao Tome and Principe (1.0 units)
5. Cote d'Ivoire (1.0 units)
6. Cameroon (1.0 units)

Source: IndexBox Market Intelligence Platform