Price for Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria - 2022

Contents:

1. Price for Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria (CIF) - 2022
2. Price for Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria (FOB) - 2022
3. Imports of Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria
4. Exports of Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria

Price for Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria (CIF) - 2022

The average import price for machines; automatic beverage-vending machines, not incorporating heating or refrigerating deviceses stood at $1,051 per unit in 2022, picking up by 65% against the previous year. In general, the import price, however, showed a pronounced setback. The pace of growth was the most pronounced in 2018 when the average import price increased by 77% against the previous year. The import price peaked at $1,673 per unit in 2013; however, from 2014 to 2022, import prices remained at a 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 Belgium ($3,769 per unit), while the price for Germany ($101 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+55.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria (FOB) - 2022

The average export price for machines; automatic beverage-vending machines, not incorporating heating or refrigerating deviceses stood at $754 per unit in 2022, picking up by 47% against the previous year. In general, the export price showed a strong expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 205% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niger ($1,431 per unit), while the average price for exports to Ghana stood at $76 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+50.2%).

Imports of Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria

In 2022, supplies from abroad of machines; automatic beverage-vending machines, not incorporating heating or refrigerating deviceses was finally on the rise to reach 22 units after two years of decline. Overall, imports, however, showed a abrupt shrinkage. Imports peaked at 39 units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of machines; automatic beverage-vending machines, not incorporating heating or refrigerating deviceses skyrocketed to $23K in 2022. Over the period under review, imports, however, recorded a dramatic decrease. Over the period under review, imports of hit record highs at $53K in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Top Suppliers of Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices to Nigeria in 2022:

1. Hong Kong SAR (10.0 units)
2. India (3.0 units)
3. South Africa (2.0 units)
4. United States (1.0 units)
5. Italy (1.0 units)
6. France (1.0 units)
7. United Kingdom (1.0 units)
8. Germany (1.0 units)
9. Belgium (1.0 units)
10. China (1.0 units)

Exports of Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices in Nigeria

In 2022, approx. 2 units of machines; automatic beverage-vending machines, not incorporating heating or refrigerating deviceses were exported from Nigeria; almost unchanged from the previous year. In general, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +26.0% 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 +100.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 100%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, exports of machines; automatic beverage-vending machines, not incorporating heating or refrigerating deviceses surged to $1.5K in 2022. Over the period under review, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Machines; Automatic Beverage-Vending Machines, Not Incorporating Heating or Refrigerating Devices from Nigeria in 2022:

1. Ghana (1.0 units)
2. Niger (1.0 units)

Source: IndexBox Market Intelligence Platform