Lamps; Arc-Lamps Price in Nigeria - 2022

Lamps; Arc-Lamps Price in Nigeria (CIF) - 2022

The average lamps; arc-lamps import price stood at $19 per unit in 2022, picking up by 25% against the previous year. Overall, the import price, however, recorded a drastic downturn. The growth pace was the most rapid in 2019 when the average import price increased by 209%. The import price peaked at $33 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($58 per unit), while the price for China ($4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Lamps; Arc-Lamps Imports in Nigeria

In 2022, lamps; arc-lamps imports into Nigeria skyrocketed to 7.8K units, growing by 390% against the previous year's figure. Over the period under review, imports, however, showed a sharp decline. The pace of growth was the most pronounced in 2020 when imports increased by 1,661%. As a result, imports reached the peak of 325K units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, lamps; arc-lamps imports surged to $148K in 2022. Overall, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 654%. As a result, imports attained the peak of $2M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Lamps; Arc-Lamps in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	24.3	910	0.8	30.1	7.4%
China	34.2	991	4.9	18.0	-19.3%
Austria	6.1	4.6	2.1	7.4	6.7%
Spain	8.4	5.2	1.5	5.6	-12.6%
Others	186	45.3	14.9	86.6	-22.5%
Total	259	1,956	24.2	148	-17.0%