Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria - 2022
Contents:
- Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria (CIF) - 2022
- Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria (FOB) - 2022
- Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria
- Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria
Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria (CIF) - 2022
In 2022, the average import price for cycles; parts, pedals and crank-gear, and parts thereoves amounted to $990 per ton, picking up by 27% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 69% against the previous year. The import price peaked at $2,543 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
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 South Africa ($9,762 per ton), while the price for Kenya ($617 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+44.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria (FOB) - 2022
The average export price for cycles; parts, pedals and crank-gear, and parts thereoves stood at $2,330 per ton in 2022, rising by 128% against the previous year. Over the period under review, the export price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2017 an increase of 326%. Over the period under review, the average export prices reached the peak figure at $5,428 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Sao Tome and Principe ($4,770 per ton), while the average price for exports to Benin ($487 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+308.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria
For the third year in a row, Nigeria recorded decline in purchases abroad of cycles; parts, pedals and crank-gear, and parts thereoves, which decreased by -60% to 131 tons in 2022. Over the period under review, imports saw a dramatic slump. The smallest decline of -13.3% was in 2020.
In value terms, imports of cycles; parts, pedals and crank-gear, and parts thereoves shrank sharply to $130K in 2022. Overall, imports saw a dramatic downturn. The smallest decline of -7% was in 2020.
| Import of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 449 | 530 | 207 | 75.1 | -44.9% |
| Kenya | N/A | N/A | N/A | 25.0 | 0% |
| South Africa | N/A | N/A | N/A | 21.5 | 0% |
| India | 143 | 37.9 | 32.6 | N/A | -52.3% |
| Others | 25.5 | 5.3 | 16.7 | 8.4 | -30.9% |
| Total | 617 | 573 | 257 | 130 | -40.5% |
Top Suppliers of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof to Nigeria in 2022:
- China (86.4 tons)
- Kenya (40.5 tons)
- South Africa (2.2 tons)
Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria
In 2022, the amount of cycles; parts, pedals and crank-gear, and parts thereoves exported from Nigeria contracted sharply to 336 kg, which is down by -71.4% compared with the previous year's figure. Overall, exports faced a dramatic decrease. The pace of growth was the most pronounced in 2021 with an increase of 156% against the previous year.
In value terms, exports of cycles; parts, pedals and crank-gear, and parts thereoves shrank markedly to $783 in 2022. In general, exports recorded a precipitous setback. The pace of growth was the most pronounced in 2021 when exports increased by 240% against the previous year.
| Export of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sao Tome and Principe | 0.9 | N/A | N/A | 0.7 | -8.0% |
| Benin | N/A | 0.2 | 0.1 | 0.1 | -29.3% |
| Mali | 24.9 | N/A | N/A | N/A | 0% |
| Angola | N/A | N/A | 0.5 | N/A | 0% |
| Others | 1.6 | 0.2 | 0.6 | N/A | -38.8% |
| Total | 27.4 | 0.4 | 1.2 | 0.8 | -69.2% |
Top Export Markets for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof from Nigeria in 2022:
- Benin (158.0 kg)
- Sao Tome and Principe (139.0 kg)
- Angola (39.0 kg)
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