Price for Pearls; Articles of Natural or Cultured Pearls in Nigeria - 2022

Contents:

1. Price for Pearls; Articles of Natural or Cultured Pearls in Nigeria (CIF) - 2022
2. Price for Pearls; Articles of Natural or Cultured Pearls in Nigeria (FOB) - 2022
3. Imports of Pearls; Articles of Natural or Cultured Pearls in Nigeria
4. Exports of Pearls; Articles of Natural or Cultured Pearls in Nigeria

Price for Pearls; Articles of Natural or Cultured Pearls in Nigeria (CIF) - 2022

The average import price for pearls; articles of natural or cultured pearlses stood at $23,000 per ton in 2022, rising by 342% against the previous year. In general, the import price, however, recorded a abrupt contraction. The import price peaked at $55,682 per ton in 2012; however, from 2013 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 Hong Kong SAR.

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to -13.2% per year.

Price for Pearls; Articles of Natural or Cultured Pearls in Nigeria (FOB) - 2022

In 2022, the average export price for pearls; articles of natural or cultured pearlses amounted to $5,667 per ton, which is down by -11.5% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2013 when the average export price increased by 13% against the previous year. As a result, the export price reached the peak level of $11,000 per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($21,000 per ton), while the average price for exports to Ireland ($1,000 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 Niger (-10.2%).

Imports of Pearls; Articles of Natural or Cultured Pearls in Nigeria

In 2022, imports of pearls; articles of natural or cultured pearlses into Nigeria contracted rapidly to 1 kg, which is down by -99.4% on 2021. In general, imports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2021 when imports increased by 208% against the previous year.

In value terms, imports of pearls; articles of natural or cultured pearlses fell sharply to $23 in 2022. Over the period under review, imports showed a sharp reduction. The smallest decline of -22.8% was in 2020.

Top Suppliers of Pearls; Articles of Natural or Cultured Pearls to Nigeria in 2022:

1. Hong Kong SAR (1.0 kg)

Exports of Pearls; Articles of Natural or Cultured Pearls in Nigeria

In 2022, the amount of pearls; articles of natural or cultured pearlses exported from Nigeria surged to 6 kg, jumping by 20% on the previous year. In general, exports, however, recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year.

In value terms, exports of pearls; articles of natural or cultured pearlses stood at $34 in 2022. Over the period under review, exports, however, recorded a significant decline.

Top Export Markets for Pearls; Articles of Natural or Cultured Pearls from Nigeria in 2022:

1. Niger (3.0 kg)
2. Botswana (1.0 kg)
3. Ireland (1.0 kg)
4. Czech Republic (1.0 kg)

Source: IndexBox Market Intelligence Platform