Mica; Waste Price in Nigeria - 2021

Mica; Waste Price in Nigeria (CIF) - 2022

The average mica; waste import price stood at $510 per ton in 2022, leveling off at the previous year. Over the period under review, the import price continues to indicate a abrupt slump. The growth pace was the most rapid in 2014 an increase of 566%. As a result, import price attained the peak level of $9,898 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -14.3% per year.

Mica; Waste Price in Nigeria (FOB) - 2022

The average mica; waste export price stood at $246 per ton in 2022, with a decrease of -6.5% against the previous year. In general, the export price, however, continues to indicate slight growth. The most prominent rate of growth was recorded in 2013 an increase of 70% against the previous year. The export price peaked at $536 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.9% per year.

Mica; Waste Imports in Nigeria

In 2022, the amount of mica; wastes imported into Nigeria declined significantly to 45 tons, waning by -43.4% compared with 2021 figures. In general, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 1,111%. As a result, imports attained the peak of 79 tons, and then shrank rapidly in the following year.

In value terms, mica; waste imports declined dramatically to $23K in 2022. Overall, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 766%. As a result, imports attained the peak of $41K, and then reduced notably in the following year.

Import of Mica; Waste in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	17.3	4.7	40.7	22.7	9.5%
Others	N/A	N/A	N/A	N/A	0%
Total	17.3	4.7	40.7	22.7	9.5%

Top Suppliers of Mica; Waste to Nigeria in 2022:

India (44.6 tons)

Mica; Waste Exports in Nigeria

In 2022, shipments abroad of mica; wastes decreased by -8.9% to 76 tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +6.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, the exports attained the peak of 83 tons, and then declined in the following year.

In value terms, mica; waste exports contracted to $19K in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +13.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. As a result, the exports reached the peak of $22K, and then reduced in the following year.