Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Nigeria - 2022

Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Nigeria (CIF) - 2022

The average import price for musical instruments; wind, brass (eg trumpets) stood at $381 per unit in 2022, flattening at the previous year. In general, the import price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 25%. Over the period under review, average import prices attained the peak figure at $857 per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($446 per unit), while the price for the United States amounted to $316 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.4%), while the prices for the other major suppliers experienced a decline.

Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Nigeria (FOB) - 2022

The average export price for musical instruments; wind, brass (eg trumpets) stood at $30 per unit in 2022, falling by -44.4% against the previous year. Over the period under review, the export price saw a sharp slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 731%. Over the period under review, the average export prices hit record highs at $815 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($39 per unit), while the average price for exports to Angola amounted to $21 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (-6.2%).

Imports of Musical Instruments; Wind, Brass (Eg Trumpets) in Nigeria

In 2022, overseas purchases of musical instruments; wind, brass (eg trumpets) decreased by -85.7% to 2 units, falling for the second consecutive year after two years of growth. Overall, imports faced a sharp shrinkage. The pace of growth was the most pronounced in 2020 when imports increased by 5.8% against the previous year. As a result, imports attained the peak of 311 units. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of musical instruments; wind, brass (eg trumpets) dropped notably to $762 in 2022. In general, imports recorded a sharp curtailment. The smallest decline of -3% was in 2020. Imports peaked at $237K in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Musical Instruments; Wind, Brass (Eg Trumpets) in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	216	213	5.0	0.4	-87.7%
United States	10.1	6.1	0.1	0.3	-69.0%
Others	10.8	10.8	0.2	N/A	-86.4%
Total	237	230	5.3	0.8	-85.0%

Top Suppliers of Musical Instruments; Wind, Brass (Eg Trumpets) to Nigeria in 2022:

United States (1.0 units)
China (1.0 units)

Exports of Musical Instruments; Wind, Brass (Eg Trumpets) in Nigeria

In 2022, approx. 2 units of musical instruments; wind, brass (eg trumpets) were exported from Nigeria; leveling off at the year before. Over the period under review, exports saw a relatively flat trend pattern. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, exports of musical instruments; wind, brass (eg trumpets) contracted significantly to $60 in 2022. Overall, exports continue to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 731%. Over the period under review, the exports of attained the maximum at $522 in 2019; however, from 2020 to 2022, the exports remained at a lower figure.