Price for Ivory and Articles Thereof; Worked in Nigeria - 2022

Contents:

1. Price for Ivory and Articles Thereof; Worked in Nigeria (FOB) - 2022
2. Price for Ivory and Articles Thereof; Worked in Nigeria (CIF) - 2022
3. Exports of Ivory and Articles Thereof; Worked in Nigeria
4. Imports of Ivory and Articles Thereof; Worked in Nigeria

Price for Ivory and Articles Thereof; Worked in Nigeria (FOB) - 2022

In 2022, the average export price for ivory and articles thereof; worked amounted to $63,923 per ton, surging by 2.9% against the previous year. Overall, the export price continues to indicate buoyant growth. The growth pace was the most rapid in 2013 when the average export price increased by 1,379%. As a result, the export price reached the peak level of $486,978 per ton. From 2014 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to +6.6% per year.

Price for Ivory and Articles Thereof; Worked in Nigeria (CIF) - 2022

The average import price for ivory and articles thereof; worked stood at $1,324 per ton in 2022, shrinking by -43.1% against the previous year. In general, the import price saw a precipitous decrease. The growth pace was the most rapid in 2013 an increase of 228%. The import price peaked at $70,188 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 -23.7% per year.

Exports of Ivory and Articles Thereof; Worked in Nigeria

In 2022, approx. 542 kg of ivory and articles thereof; worked were exported from Nigeria; waning by -19.1% on the previous year. In general, exports, however, posted prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 644% against the previous year. As a result, the exports reached the peak of 670 kg, and then shrank remarkably in the following year.

In value terms, ivory and articles thereof; worked exports fell dramatically to $35K in 2022. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +15.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.6% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 50%. As a result, the exports reached the peak of $42K, and then fell remarkably in the following year.

Top Export Markets for Ivory and Articles Thereof; Worked from Nigeria in 2022:

1. Niger (542.0 kg)

Imports of Ivory and Articles Thereof; Worked in Nigeria

In 2022, approx. 15 tons of ivory and articles thereof; worked were imported into Nigeria; rising by 71% on the previous year's figure. In general, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ivory and articles thereof; worked imports fell to $20K in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 5.3%.

Top Suppliers of Ivory and Articles Thereof; Worked to Nigeria in 2022:

1. China (14.8 tons)

Source: IndexBox Market Intelligence Platform