Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria - 2023
Contents:
- Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria (CIF) - 2022
- Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria (FOB) - 2022
- Imports of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria
- Exports of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria
Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria (CIF) - 2022
The average import price for footwear; parts, outer soles and heels, of rubber or plasticses stood at $2,308 per ton in 2022, surging by 50% against the previous year. Overall, the import price posted a notable increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 96%. Over the period under review, average import prices attained the maximum at $4,527 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
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 the UK ($2,805 per ton), while the price for Italy ($1,047 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria (FOB) - 2022
In 2022, the average export price for footwear; parts, outer soles and heels, of rubber or plasticses amounted to $568 per ton, reducing by -14.1% against the previous year. In general, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 when the average export price increased by 46% against the previous year. As a result, the export price reached the peak level of $1,471 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Benin.
From 2012 to 2022, the rate of growth in terms of prices for Gambia amounted to +70.8% per year.
Imports of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria
In 2022, supplies from abroad of footwear; parts, outer soles and heels, of rubber or plasticses decreased by -64% to 3.6K tons, falling for the second year in a row after two years of growth. Overall, imports recorded a dramatic setback. The most prominent rate of growth was recorded in 2020 with an increase of 87% against the previous year. As a result, imports attained the peak of 26K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of footwear; parts, outer soles and heels, of rubber or plasticses declined significantly to $8.2M in 2022. Over the period under review, imports faced a abrupt descent. The pace of growth appeared the most rapid in 2020 when imports increased by 45%. As a result, imports reached the peak of $20M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 13.0 | 19.8 | 14.7 | 7.8 | -15.7% |
| United Kingdom | N/A | N/A | N/A | 0.3 | 0% |
| Others | 1.1 | 0.7 | 0.4 | 0.2 | -43.3% |
| Total | 14.1 | 20.5 | 15.2 | 8.2 | -16.5% |
Top Suppliers of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics to Nigeria in 2022:
- China (3.4K tons)
- United Kingdom (0.1K tons)
Exports of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria
After three years of growth, overseas shipments of footwear; parts, outer soles and heels, of rubber or plasticses decreased by -51.4% to 14 tons in 2022. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 137%.
In value terms, exports of footwear; parts, outer soles and heels, of rubber or plasticses declined dramatically to $7.8K in 2022. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 164% against the previous year. As a result, the exports reached the peak of $19K, and then shrank notably in the following year.
| Export of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 0.3 | 4.2 | 1.6 | 7.8 | 196.2% |
| Cameroon | N/A | 2.9 | 0.6 | N/A | -79.3% |
| Gambia | N/A | N/A | 16.3 | N/A | 0% |
| Ghana | 3.3 | N/A | 0.2 | N/A | -75.4% |
| Others | 0.3 | N/A | N/A | N/A | 0% |
| Total | 3.9 | 7.1 | 18.7 | 7.8 | 26.0% |
Top Export Markets for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics from Nigeria in 2022:
- Benin (13.8 tons)
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