Price for Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria - 2022
Contents:
- Price for Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria (CIF) - 2022
- Price for Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria (FOB) - 2022
- Imports of Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria
- Exports of Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria
Price for Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria (CIF) - 2022
The average import price for clocks; wall clocks, battery, accumulator or mains powereds stood at $7.1 per unit in 2022, approximately mirroring the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for clocks; wall clocks, battery, accumulator or mains powereds increased by +104.8% against 2015 indices. The growth pace was the most rapid in 2016 when the average import price increased by 22%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.
As there is only one major supplying country, 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 +3.4% per year.
Price for Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria (FOB) - 2022
In 2022, the average export price for clocks; wall clocks, battery, accumulator or mains powereds amounted to $6 per unit, increasing by 56% against the previous year. In general, the export price enjoyed a mild expansion. The most prominent rate of growth was recorded in 2016 an increase of 411%. Over the period under review, the average export prices attained the peak figure at $10 per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($7 per unit), while the average price for exports to France ($4 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 Canada (+164.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria
In 2022, overseas purchases of clocks; wall clocks, battery, accumulator or mains powereds were finally on the rise to reach 106K units after two years of decline. Over the period under review, imports, however, saw a sharp slump. Imports peaked at 413K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, imports of clocks; wall clocks, battery, accumulator or mains powereds skyrocketed to $758K in 2022. Overall, imports, however, faced a sharp downturn. Over the period under review, imports of reached the peak figure at $2.2M in 2020; however, from 2021 to 2022, imports failed to regain momentum.
| Import of Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.1 | 2.1 | 0.4 | 0.8 | -27.5% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 2.1 | 2.2 | 0.4 | 0.8 | -27.5% |
Top Suppliers of Clocks; Wall Clocks, Battery, Accumulator or Mains Powered to Nigeria in 2022:
- China (106.0K units)
Exports of Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria
In 2022, approx. 37 units of clocks; wall clocks, battery, accumulator or mains powereds were exported from Nigeria; which is down by -70.2% against the previous year. Over the period under review, exports recorded a sharp curtailment. The smallest decline of -48.5% was in 2020. Over the period under review, the exports of hit record highs at 831 units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, exports of clocks; wall clocks, battery, accumulator or mains powereds dropped sharply to $222 in 2022. In general, exports showed a dramatic shrinkage. The smallest decline of -39.3% was in 2020. The exports peaked at $4.2K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Clocks; Wall Clocks, Battery, Accumulator or Mains Powered in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 2,745 | 2,551 | 409 | 190 | -58.9% |
| Canada | N/A | 1.0 | N/A | 28.0 | 429.2% |
| France | N/A | N/A | N/A | 4.0 | 0% |
| Cote d'Ivoire | 1,155 | N/A | N/A | N/A | 0% |
| South Africa | 127 | N/A | 59.0 | N/A | -31.8% |
| Angola | 135 | N/A | N/A | N/A | 0% |
| Others | 48.0 | 3.0 | 10.0 | N/A | -54.4% |
| Total | 4,210 | 2,555 | 478 | 222 | -62.5% |
Top Export Markets for Clocks; Wall Clocks, Battery, Accumulator or Mains Powered from Nigeria in 2022:
- Benin (32.0 units)
- Canada (4.0 units)
- France (1.0 units)
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