Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria - 2022
Contents:
- Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria (CIF) - 2022
- Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria (FOB) - 2022
- Imports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria
- Exports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria
Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria (CIF) - 2022
In 2022, the average import price for rubber; vulcanised, conveyor belts or belting, reinforced only with metals amounted to $5,645 per ton, with a decrease of -62.3% against the previous year. Over the period under review, the import price, however, posted a slight increase. The pace of growth was the most pronounced in 2021 an increase of 177% against the previous year. As a result, import price reached the peak level of $14,990 per ton, and then contracted 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 ($20,985 per ton), while the price for China ($2,436 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria (FOB) - 2022
In 2022, the average export price for rubber; vulcanised, conveyor belts or belting, reinforced only with metals amounted to $5,395 per ton, surging by 60% against the previous year. In general, the export price saw prominent growth. The growth pace was the most rapid in 2013 an increase of 71% against the previous year. The export price peaked at $6,754 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($62,500 per ton), while the average price for exports to Niger ($933 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+24.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria
In 2022, approx. 388 tons of rubber; vulcanised, conveyor belts or belting, reinforced only with metals were imported into Nigeria; growing by 418% compared with the previous year. In general, imports recorded a relatively flat trend pattern.
In value terms, imports of rubber; vulcanised, conveyor belts or belting, reinforced only with metals skyrocketed to $2.2M in 2022. Overall, imports, however, saw a drastic downturn.
| Import of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 143 | 8.9 | 8.9 | 859 | 81.8% |
| China | 945 | 1,866 | 24.9 | 589 | -14.6% |
| Germany | 356 | 644 | 438 | 561 | 16.4% |
| India | 240 | 557 | 40.6 | 74.0 | -32.4% |
| Poland | 0.1 | 0.5 | 1.8 | 71.3 | 793.4% |
| Others | 946 | 608 | 610 | 37.4 | -65.9% |
| Total | 2,630 | 3,684 | 1,124 | 2,192 | -5.9% |
Top Suppliers of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal to Nigeria in 2022:
- China (241.9 tons)
- South Africa (81.5 tons)
- Germany (26.7 tons)
- India (18.8 tons)
- Poland (17.0 tons)
Exports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria
In 2022, shipments abroad of rubber; vulcanised, conveyor belts or belting, reinforced only with metals decreased by -73.1% to 86 kg, falling for the second year in a row after two years of growth. In general, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 43% against the previous year. As a result, the exports reached the peak of 1.3 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of rubber; vulcanised, conveyor belts or belting, reinforced only with metals shrank markedly to $464 in 2022. Overall, exports showed a sharp decrease. The pace of growth was the most pronounced in 2020 with an increase of 107%. As a result, the exports attained the peak of $8.5K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cabo Verde | 156 | 4,529 | 871 | 303 | 24.8% |
| Cote d'Ivoire | 1,742 | 3,094 | 109 | 125 | -58.4% |
| Niger | 901 | 709 | 63.0 | 28.0 | -68.6% |
| South Africa | N/A | N/A | 9.0 | N/A | 0% |
| Angola | 1,167 | N/A | N/A | N/A | 0% |
| Others | 137 | 144 | 30.0 | 8.0 | -61.2% |
| Total | 4,103 | 8,476 | 1,082 | 464 | -51.6% |
Top Export Markets for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Metal from Nigeria in 2022:
- Cabo Verde (53.0 kg)
- Niger (30.0 kg)
- Cote d'Ivoire (2.0 kg)
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