Price for Clock Movements; Complete and Assembled in Nigeria - 2022
Contents:
- Price for Clock Movements; Complete and Assembled in Nigeria (CIF) - 2022
- Price for Clock Movements; Complete and Assembled in Nigeria (FOB) - 2022
- Imports of Clock Movements; Complete and Assembled in Nigeria
- Exports of Clock Movements; Complete and Assembled in Nigeria
Price for Clock Movements; Complete and Assembled in Nigeria (CIF) - 2022
The average import price for clock movements; complete and assembleds stood at $5.8 per unit in 2022, standing approx. at the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 82% against the previous year. Over the period under review, average import prices reached the peak figure at $8.3 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.
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 China ($8.2 per unit), while the price for India amounted to $5.3 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Clock Movements; Complete and Assembled in Nigeria (FOB) - 2022
In June 2022, the average export price for clock movements; complete and assembleds amounted to $501 per thousand units, jumping by 333% against the previous month. In general, the export price saw a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably for the major foreign markets. In June 2022, the countries with the highest prices were the United Arab Emirates ($578 per thousand units) and Sudan ($528 per thousand units), while the average price for exports to India ($464 per thousand units) and China ($521 per thousand units) were amongst the lowest.
From May 2022 to June 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+300.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Clock Movements; Complete and Assembled in Nigeria
In 2022, clock movements; complete and assembled imports into Nigeria rose markedly to 12K units, surging by 9.4% on 2021. Overall, imports posted significant growth. The growth pace was the most rapid in 2021 when imports increased by 1,327%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.
In value terms, clock movements; complete and assembled imports rose notably to $68K in 2022. In general, imports posted a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 1,419%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Clock Movements; Complete and Assembled in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.3 | 3.9 | 46.8 | 53.3 | 244.8% |
| China | N/A | N/A | 2.3 | 12.5 | 443.5% |
| United Arab Emirates | N/A | 0.2 | 8.3 | 0.1 | -29.3% |
| Others | 0.1 | N/A | 5.4 | 2.0 | 171.4% |
| Total | 1.4 | 4.1 | 62.8 | 67.9 | 264.7% |
Top Suppliers of Clock Movements; Complete and Assembled to Nigeria in 2022:
- United Arab Emirates (undefinedK units)
- India (10.1K units)
- China (1.5K units)
Exports of Clock Movements; Complete and Assembled in Nigeria
In 2022, after two years of decline, there was significant growth in shipments abroad of clock movements; complete and assembleds, when their volume increased by 138% to 19 units. Over the period under review, exports, however, faced a dramatic decline. Over the period under review, the exports attained the maximum at 1.8K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, clock movements; complete and assembled exports surged to $1.5K in 2022. In general, exports, however, recorded a sharp decrease. Over the period under review, the exports reached the maximum at $5.4K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Clock Movements; Complete and Assembled in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | N/A | N/A | N/A | 660 | 0% |
| Niger | 38.0 | 1.0 | 32.0 | 121 | 47.1% |
| Ghana | 13.0 | 1.0 | 6.0 | 18.0 | 11.5% |
| United Arab Emirates | N/A | 789 | N/A | N/A | 0% |
| Netherlands | 5,355 | N/A | N/A | N/A | 0% |
| Others | N/A | 1,985 | 107 | 660 | -42.3% |
| Total | 5,406 | 2,776 | 145 | 1,459 | -35.4% |
Top Export Markets for Clock Movements; Complete and Assembled from Nigeria in 2022:
- Ireland (8.0 units)
- Niger (2.0 units)
- Ghana (1.0 units)
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