Price for Knitting Machines; Circular, with Cylinder Diameter Exceeding 165mm in Nigeria - 2023
Contents:
- Price for Knitting Machines; Circular, with Cylinder Diameter Exceeding 165mm in Nigeria (CIF) - 2022
- Imports of Knitting Machines; Circular, with Cylinder Diameter Exceeding 165mm in Nigeria
Price for Knitting Machines; Circular, with Cylinder Diameter Exceeding 165mm in Nigeria (CIF) - 2022
In 2022, the average import price for knitting machines; circular, with cylinder diameter exceeding 165mms amounted to $44,206 per unit, increasing by 7.3% against the previous year. Overall, the import price showed a significant increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 499%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.
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 Taiwan (Chinese) ($69,112 per unit), while the price for India ($362 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+63.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Knitting Machines; Circular, with Cylinder Diameter Exceeding 165mm in Nigeria
In 2022, imports of knitting machines; circular, with cylinder diameter exceeding 165mms into Nigeria soared to 26 units, with an increase of 63% compared with 2021 figures. In general, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 1,188% against the previous year. As a result, imports attained the peak of 103 units. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of knitting machines; circular, with cylinder diameter exceeding 165mms surged to $1.1M in 2022. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 1,053%. As a result, imports attained the peak of $3.6M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Knitting Machines; Circular, with Cylinder Diameter Exceeding 165mm in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.9 | 39.4 | 111 | 746 | 536.0% |
| China | 176 | 2,232 | 334 | 156 | -3.9% |
| Taiwan (Chinese) | 72.4 | 149 | 152 | 138 | 24.0% |
| Japan | 54.7 | 61.9 | 37.7 | 98.1 | 21.5% |
| Panama | N/A | N/A | N/A | 9.6 | 0% |
| United Kingdom | 2.6 | 1.3 | 1.0 | 1.1 | -24.9% |
| India | 1.8 | 6.3 | 2.5 | 0.4 | -39.4% |
| Austria | N/A | 1,081 | N/A | N/A | 0% |
| Others | N/A | 12.7 | 21.9 | N/A | 72.4% |
| Total | 311 | 3,584 | 659 | 1,149 | 54.6% |
Top Suppliers of Knitting Machines; Circular, with Cylinder Diameter Exceeding 165mm to Nigeria in 2022:
- United States (16.0 units)
- China (3.0 units)
- Taiwan (Chinese) (2.0 units)
- Japan (2.0 units)
- Panama (1.0 units)
- India (1.0 units)
- United Kingdom (1.0 units)
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