Report Update: May 1, 2024

Nigeria - Data Storage Devices - Market Analysis, Forecast, Size, Trends and Insights

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Data Storage Device Price in Nigeria - 2022

Data Storage Device Price in Nigeria (FOB) - 2022

The average data storage device export price stood at $188 per unit in 2022, rising by 7.7% against the previous year. Overall, the export price continues to indicate buoyant growth. The growth pace was the most rapid in 2015 when the average export price increased by 44% against the previous year. Over the period under review, the average export prices reached the peak figure at $224 per unit in 2019; however, from 2020 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 the Netherlands ($372 per unit), while the average price for exports to Cote d'Ivoire ($178 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 the Netherlands (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Data Storage Device Price in Nigeria (CIF) - 2022

In 2022, the average data storage device import price amounted to $259 per unit, jumping by 66% against the previous year. Overall, the import price recorded a prominent expansion. The pace of growth appeared the most rapid in 2013 an increase of 193%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($446 per unit), while the price for the United Arab Emirates ($101 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Data Storage Device Exports in Nigeria

In 2022, approx. 1.6K units of data storage devices were exported from Nigeria; with a decrease of -15.1% against 2021 figures. The total export volume increased at an average annual rate of +1.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 43%. As a result, the exports attained the peak of 1.8K units, and then dropped markedly in the following year.

In value terms, data storage device exports declined to $291K in 2022. Over the period under review, exports showed a noticeable reduction. The pace of growth was the most pronounced in 2021 when exports increased by 20% against the previous year. Over the period under review, the exports attained the peak figure at $336K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Data Storage Device in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ghana	1.0	261	315	289	561.1%
Cote d'Ivoire	51.9	1.6	1.0	0.9	-74.1%
Netherlands	109	0.5	1.1	0.7	-81.4%
South Africa	104	0.1	0.1	0.2	-87.6%
Others	71.0	0.6	0.5	0.7	-78.6%
Total	336	264	318	291	-4.7%

Top Export Markets for Data Storage Device from Nigeria in 2022:

Ghana (1503.0 units)
Cote d'Ivoire (5.0 units)
South Africa (4.0 units)
Netherlands (2.0 units)

Data Storage Device Imports in Nigeria

In 2022, the amount of data storage devices imported into Nigeria amounted to 114K units, with an increase of 8.8% on the previous year's figure. In general, total imports indicated a modest expansion from 2019 to 2022: its volume increased at an average annual rate of +1.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -30.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 48%. As a result, imports attained the peak of 163K units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, data storage device imports surged to $30M in 2022. Overall, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 91%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Import of Data Storage Device in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Barbados	6.5	9.5	8.7	12.9	25.7%
Ireland	0.4	0.1	N/A	5.2	135.1%
China	3.7	2.5	2.5	3.5	-1.8%
Netherlands	0.8	0.8	0.2	2.6	48.1%
Taiwan (Chinese)	N/A	6.9	0.1	2.2	-43.5%
United Kingdom	0.1	0.2	N/A	0.7	91.3%
United Arab Emirates	0.1	0.1	0.3	0.3	44.2%
Others	1.0	4.0	4.4	2.1	28.1%
Total	12.6	24.0	16.3	29.5	32.8%

Top Suppliers of Data Storage Device to Nigeria in 2022:

Barbados (35.9K units)
China (32.0K units)
Ireland (17.8K units)
Taiwan (Chinese) (6.2K units)
Netherlands (5.7K units)
United Kingdom (4.6K units)
United Arab Emirates (3.3K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the data storage device market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26202100 - Storage units

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023