Price for Electronic Integrated Circuits; Memories in Nigeria - 2022
Contents:
- Price for Electronic Integrated Circuits; Memories in Nigeria (CIF) - 2022
- Price for Electronic Integrated Circuits; Memories in Nigeria (FOB) - 2022
- Imports of Electronic Integrated Circuits; Memories in Nigeria
- Exports of Electronic Integrated Circuits; Memories in Nigeria
Price for Electronic Integrated Circuits; Memories in Nigeria (CIF) - 2022
In 2022, the average electronic integrated circuits; memories import price amounted to $14 per unit, waning by -11.3% against the previous year. Over the period under review, the import price, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of 230% against the previous year. Over the period under review, average import prices reached the maximum at $16 per unit in 2021, and then contracted in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($87 per unit), while the price for the UK ($0.9 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+41.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electronic Integrated Circuits; Memories in Nigeria (FOB) - 2022
In 2022, the average electronic integrated circuits; memories export price amounted to $1.8 per unit, picking up by 133% against the previous year. Over the period under review, the export price enjoyed a significant expansion. 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 overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Cote d'Ivoire ($1.8 per unit) and Germany ($1.8 per unit), while the average price for exports to Ghana ($1.8 per unit) and the UK ($1.8 per unit) were amongst the lowest.
From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+102.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electronic Integrated Circuits; Memories in Nigeria
In 2022, overseas purchases of electronic integrated circuits increased by 55% to 88K units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a sharp setback. Over the period under review, imports hit record highs at 202K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, electronic integrated circuits; memories imports skyrocketed to $1.2M in 2022. Overall, imports, however, recorded a abrupt contraction. Over the period under review, imports attained the peak figure at $1.8M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Electronic Integrated Circuits; Memories in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 1,050 | 629 | 539 | 707 | -12.4% |
| France | 24.4 | 617 | 245 | 355 | 144.1% |
| Hong Kong SAR | 224 | 61.7 | N/A | 58.6 | -36.0% |
| China | 1.5 | 31.8 | 17.1 | 21.9 | 144.4% |
| United Kingdom | 124 | 10.0 | 0.9 | 3.1 | -70.8% |
| Others | 354 | 176 | 91.2 | 78.5 | -39.5% |
| Total | 1,776 | 1,525 | 893 | 1,224 | -11.7% |
Top Suppliers of Electronic Integrated Circuits; Memories to Nigeria in 2022:
- France (43.8K units)
- China (22.5K units)
- Singapore (8.1K units)
- Hong Kong SAR (6.5K units)
- United Kingdom (3.6K units)
Exports of Electronic Integrated Circuits; Memories in Nigeria
In 2022, exports of electronic integrated circuits from Nigeria skyrocketed to 48K units, with an increase of 32% against 2021. The total export volume increased at an average annual rate of +31.6% over the period from 2021 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, electronic integrated circuits; memories exports surged to $87K in 2022. Overall, exports posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Electronic Integrated Circuits; Memories in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Germany | 21.9 | 68.5 | 212.8% | ||
| Cote d'Ivoire | 3.2 | 10.0 | 212.5% | ||
| United Kingdom | 2.2 | 6.1 | 177.3% | ||
| Ghana | 0.4 | 1.3 | 225.0% | ||
| Others | 0.7 | 1.3 | 85.7% | ||
| Total | 28.4 | 87.3 | 207.4% | ||
Top Export Markets for Electronic Integrated Circuits; Memories from Nigeria in 2022:
- Germany (37.4K units)
- Cote d'Ivoire (5.5K units)
- United Kingdom (3.3K units)
- Ghana (0.7K units)
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