Price for Non-Furniture Refrigerating or Freezing Equipment in Nigeria - 2022
Contents:
- Price for Non-Furniture Refrigerating or Freezing Equipment in Nigeria (CIF) - 2022
- Price for Non-Furniture Refrigerating or Freezing Equipment in Nigeria (FOB) - 2022
- Imports of Non-Furniture Refrigerating or Freezing Equipment in Nigeria
- Exports of Non-Furniture Refrigerating or Freezing Equipment in Nigeria
Price for Non-Furniture Refrigerating or Freezing Equipment in Nigeria (CIF) - 2022
The average import price for non-furniture refrigerating or freezing equipment stood at $158 per unit in 2022, surging by 37% against the previous year. Over the period under review, the import price saw a mild increase. The most prominent rate of growth was recorded in 2014 an increase of 38%. The import price peaked at $206 per unit in 2017; however, from 2018 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 France ($261 per unit), while the price for Turkey ($68 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Non-Furniture Refrigerating or Freezing Equipment in Nigeria (FOB) - 2022
The average export price for non-furniture refrigerating or freezing equipment stood at $122 per unit in 2022, shrinking by -39.5% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 95% against the previous year. The export price peaked at $242 per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($148 per unit), while the average price for exports to Niger ($110 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+656.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Furniture Refrigerating or Freezing Equipment in Nigeria
In 2022, approx. 112K units of non-furniture refrigerating or freezing equipment were imported into Nigeria; growing by 14% on the previous year. In general, imports posted a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 328% against the previous year. As a result, imports reached the peak of 217K units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, non-furniture refrigerating or freezing equipment imports skyrocketed to $18M in 2022. Over the period under review, imports recorded a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 329% against the previous year. As a result, imports attained the peak of $20M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Non-Furniture Refrigerating or Freezing Equipment in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.6 | 1.1 | 1.2 | 4.4 | 94.3% |
| Germany | 0.5 | 5.5 | 3.4 | 3.6 | 93.1% |
| China | 1.4 | 7.8 | 3.0 | 2.4 | 19.7% |
| Italy | 0.2 | 0.8 | 0.9 | 2.2 | 122.4% |
| France | 0.1 | 0.8 | 1.0 | 2.2 | 180.2% |
| Lebanon | N/A | 0.2 | N/A | 0.9 | 112.1% |
| Turkey | 0.2 | 1.4 | 0.4 | 0.5 | 35.7% |
| Others | 1.6 | 2.4 | 1.4 | 1.5 | -2.1% |
| Total | 4.7 | 20.0 | 11.3 | 17.7 | 55.6% |
Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to Nigeria in 2022:
- India (24.5K units)
- China (21.9K units)
- Germany (21.6K units)
- Italy (13.4K units)
- France (8.6K units)
- Turkey (7.9K units)
- Lebanon (5.0K units)
Exports of Non-Furniture Refrigerating or Freezing Equipment in Nigeria
Non-furniture refrigerating or freezing equipment exports from Nigeria soared to 243 units in 2022, rising by 16% on the previous year's figure. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 297% against the previous year. As a result, the exports reached the peak of 254 units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, non-furniture refrigerating or freezing equipment exports dropped markedly to $30K in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 120%. The exports peaked at $42K in 2021, and then reduced remarkably in the following year.
| Export of Non-Furniture Refrigerating or Freezing Equipment in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 0.1 | 3.9 | 11.8 | 17.6 | 460.4% |
| India | 2.7 | N/A | N/A | 10.9 | 59.2% |
| Angola | N/A | N/A | 0.1 | 0.9 | 800.0% |
| Benin | 1.1 | 1.7 | 1.0 | N/A | -4.7% |
| Cote d'Ivoire | 7.7 | 9.3 | 9.9 | N/A | 13.4% |
| Cameroon | N/A | 4.0 | 1.0 | N/A | -75.0% |
| Kenya | N/A | 7.3 | 8.3 | N/A | 13.7% |
| Others | 0.4 | N/A | 10.3 | 0.3 | -9.1% |
| Total | 12.0 | 26.3 | 42.4 | 29.7 | 35.3% |
Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from Nigeria in 2022:
- Niger (160.0 units)
- India (74.0 units)
- Angola (7.0 units)
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