Price for Non-Silver Precious Metal Jewelry in Nigeria - 2022
Contents:
- Price for Non-Silver Precious Metal Jewelry in Nigeria (CIF) - 2022
- Price for Non-Silver Precious Metal Jewelry in Nigeria (FOB) - 2022
- Imports of Non-Silver Precious Metal Jewelry in Nigeria
- Exports of Non-Silver Precious Metal Jewelry in Nigeria
Price for Non-Silver Precious Metal Jewelry in Nigeria (CIF) - 2022
In 2022, the average non-silver precious metal jewelry import price amounted to $488,475 per ton, picking up by 13% against the previous year. In general, the import price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 2,275%. As a result, import price reached the peak level of $4,617 per kg. From 2021 to 2022, the average import prices remained at a somewhat 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 Italy ($47,797,000 per ton), while the price for China ($1,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+38.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Silver Precious Metal Jewelry in Nigeria (FOB) - 2022
The average non-silver precious metal jewelry export price stood at $1,532,026 per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price, however, showed a deep reduction. The pace of growth was the most pronounced in 2013 when the average export price increased by 67%. The export price peaked at $6,259,104 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($4,749,500 per ton), while the average price for exports to Benin ($10,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Silver Precious Metal Jewelry in Nigeria
Non-silver precious metal jewelry imports into Nigeria declined rapidly to 223 kg in 2022, shrinking by -36.1% on 2021 figures. In general, imports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 260% against the previous year.
In value terms, non-silver precious metal jewelry imports fell remarkably to $109K in 2022. Overall, imports saw a deep slump. The pace of growth was the most pronounced in 2020 when imports increased by 244%. As a result, imports reached the peak of $448K. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Non-Silver Precious Metal Jewelry in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 38.7 | 171 | 68.9 | 47.8 | 7.3% |
| United Kingdom | N/A | 0.3 | 0.1 | 5.2 | 316.3% |
| France | 1.2 | 13.9 | N/A | 2.1 | 20.5% |
| United States | 0.2 | 0.8 | 0.3 | 0.2 | 0.0% |
| Bulgaria | N/A | N/A | N/A | N/A | 0% |
| Hong Kong SAR | 0.1 | 6.1 | N/A | N/A | 6000.0% |
| Germany | 0.2 | 1.8 | N/A | N/A | 800.0% |
| Belgium | N/A | N/A | N/A | N/A | 0% |
| China | 0.2 | 1.5 | 0.1 | N/A | -29.3% |
| Greece | N/A | 0.2 | N/A | N/A | 0% |
| Australia | N/A | 0.1 | N/A | N/A | 0% |
| Israel | N/A | 0.1 | N/A | N/A | 0% |
| Canada | N/A | 0.3 | N/A | N/A | 0% |
| Others | 89.6 | 252 | 81.1 | 53.6 | -15.7% |
| Total | 130 | 448 | 151 | 109 | -5.7% |
Top Suppliers of Non-Silver Precious Metal Jewelry to Nigeria in 2022:
- United Kingdom (6.0 kg)
- France (3.0 kg)
- Canada (1.0 kg)
- United States (1.0 kg)
- Israel (1.0 kg)
- Australia (1.0 kg)
- Italy (1.0 kg)
- Greece (1.0 kg)
- China (1.0 kg)
- Belgium (1.0 kg)
- Germany (1.0 kg)
- Hong Kong SAR (1.0 kg)
- Bulgaria (1.0 kg)
Exports of Non-Silver Precious Metal Jewelry in Nigeria
In 2022, overseas shipments of non-silver precious metal jewelry increased by 27% to 38 kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a drastic downturn.
In value terms, non-silver precious metal jewelry exports surged to $58K in 2022. In general, exports, however, showed a dramatic downturn.
| Export of Non-Silver Precious Metal Jewelry in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 1.1 | 1.7 | 0.9 | 36.0 | 219.9% |
| United Arab Emirates | 11.5 | 36.3 | 14.3 | 9.5 | -6.2% |
| Australia | N/A | N/A | N/A | 0.6 | 0% |
| Italy | 1.7 | 4.6 | 3.9 | 0.5 | -33.5% |
| Ireland | 0.1 | 0.4 | 0.6 | 0.4 | 58.7% |
| Germany | N/A | 0.3 | 0.4 | 0.3 | 0.0% |
| Belgium | N/A | N/A | N/A | 0.3 | 0% |
| Burundi | N/A | 0.2 | 0.3 | 0.2 | 0.0% |
| France | 0.1 | 0.6 | 0.4 | 0.1 | 0.0% |
| Burkina Faso | N/A | 0.1 | 0.2 | 0.1 | 0.0% |
| Benin | N/A | N/A | N/A | N/A | 0% |
| Botswana | N/A | N/A | N/A | N/A | 0% |
| Canada | 0.1 | 1.9 | 2.2 | N/A | 369.0% |
| Others | 106 | 24.8 | 22.5 | 10.1 | -54.3% |
| Total | 121 | 70.9 | 45.6 | 58.2 | -21.6% |
Top Export Markets for Non-Silver Precious Metal Jewelry from Nigeria in 2022:
- United Kingdom (8.0 kg)
- United Arab Emirates (2.0 kg)
- Burkina Faso (2.0 kg)
- Canada (1.0 kg)
- Australia (1.0 kg)
- Italy (1.0 kg)
- France (1.0 kg)
- Burundi (1.0 kg)
- Germany (1.0 kg)
- Ireland (1.0 kg)
- Belgium (1.0 kg)
- Botswana (1.0 kg)
- Benin (1.0 kg)
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