Nigeria - Plastic or Non-Precious Metal Watches - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Plastic or Non-Precious Metal Watch in Nigeria - 2022
Contents:
- Price for Plastic or Non-Precious Metal Watch in Nigeria (CIF) - 2022
- Price for Plastic or Non-Precious Metal Watch in Nigeria (FOB) - 2022
- Imports of Plastic or Non-Precious Metal Watch in Nigeria
- Exports of Plastic or Non-Precious Metal Watch in Nigeria
Price for Plastic or Non-Precious Metal Watch in Nigeria (CIF) - 2022
The average import price for plastic or non-precious metal watches stood at $184 per unit in 2022, rising by 37% against the previous year. In general, the import price posted a significant expansion. The most prominent rate of growth was recorded in 2017 an increase of 162% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
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 Switzerland ($1,110 per unit), while the price for China ($33 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+32.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Plastic or Non-Precious Metal Watch in Nigeria (FOB) - 2022
The average export price for plastic or non-precious metal watches stood at $87 per unit in 2022, growing by 20% against the previous year. In general, the export price, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 108%. As a result, the export price reached the peak level of $156 per unit. From 2017 to 2022, the average export prices failed to regain momentum.
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 Hong Kong SAR ($369 per unit), while the average price for exports to Cote d'Ivoire ($35 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 Benin (+13.5%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Plastic or Non-Precious Metal Watch in Nigeria
In 2022, the amount of plastic or non-precious metal watches imported into Nigeria expanded remarkably to 11K units, growing by 14% on the year before. The total import volume increased at an average annual rate of +7.9% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, plastic or non-precious metal watch imports soared to $2.1M in 2022. Overall, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +18.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Plastic or Non-Precious Metal Watch in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 18.0 | 106 | 178 | 1,044 | 287.1% |
| China | 148 | 235 | 63.1 | 236 | 16.8% |
| Germany | 16.7 | 36.9 | 44.1 | 144 | 105.1% |
| United Arab Emirates | 14.9 | 231 | 111 | 89.3 | 81.6% |
| United States | 414 | 249 | 174 | 73.6 | -43.8% |
| Philippines | 49.4 | 20.5 | 56.2 | 61.0 | 7.3% |
| United Kingdom | 43.7 | 129 | 83.0 | 51.5 | 5.6% |
| Hong Kong SAR | 63.5 | 52.1 | 29.8 | 29.6 | -22.5% |
| India | 8.2 | 3.7 | 20.6 | 15.1 | 22.6% |
| Canada | 7.4 | 38.7 | 26.6 | 13.6 | 22.5% |
| South Africa | 12.9 | 12.5 | 11.5 | 8.5 | -13.0% |
| Israel | 24.3 | 34.2 | 37.8 | 2.0 | -56.5% |
| Others | 426 | 173 | 480 | 285 | -12.5% |
| Total | 1,247 | 1,322 | 1,316 | 2,054 | 18.1% |
Top Suppliers of Plastic or Non-Precious Metal Watch to Nigeria in 2022:
- China (7120.0 units)
- Switzerland (941.0 units)
- United States (449.0 units)
- Hong Kong SAR (362.0 units)
- Canada (272.0 units)
- Germany (229.0 units)
- India (196.0 units)
- United Arab Emirates (187.0 units)
- United Kingdom (115.0 units)
- Philippines (93.0 units)
- South Africa (38.0 units)
- Israel (16.0 units)
Exports of Plastic or Non-Precious Metal Watch in Nigeria
In 2022, approx. 603 units of plastic or non-precious metal watches were exported from Nigeria; falling by -19.1% on 2021 figures. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, the exports hit record highs at 1.2K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, plastic or non-precious metal watch exports declined slightly to $52K in 2022. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of 6.1%. The exports peaked at $93K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Plastic or Non-Precious Metal Watch in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 55.5 | 21.6 | 7.0 | 12.4 | -39.3% |
| Hong Kong SAR | 10.9 | 5.8 | 7.2 | 10.0 | -2.8% |
| United Kingdom | 5.5 | 4.1 | 3.1 | 5.7 | 1.2% |
| United Arab Emirates | 0.4 | 2.2 | 9.9 | 4.5 | 124.1% |
| Cote d'Ivoire | 2.3 | 3.5 | 5.0 | 3.8 | 18.2% |
| South Africa | 1.5 | 1.9 | 4.9 | 3.6 | 33.9% |
| Zimbabwe | 1.9 | 1.5 | 1.8 | 1.4 | -9.7% |
| Benin | 0.2 | 1.3 | 2.3 | 1.3 | 86.6% |
| Niger | 1.2 | 0.9 | 1.0 | 0.8 | -12.6% |
| Botswana | 0.8 | 0.3 | 0.8 | 0.7 | -4.4% |
| France | 0.7 | 0.4 | 0.3 | 0.6 | -5.0% |
| Germany | 3.5 | N/A | N/A | 0.1 | -69.4% |
| Others | 8.2 | 7.1 | 10.6 | 7.3 | -3.8% |
| Total | 92.7 | 50.6 | 53.7 | 52.2 | -17.4% |
Top Export Markets for Plastic or Non-Precious Metal Watch from Nigeria in 2022:
- Switzerland (119.0 units)
- Cote d'Ivoire (108.0 units)
- South Africa (79.0 units)
- United Kingdom (48.0 units)
- United Arab Emirates (37.0 units)
- Benin (32.0 units)
- Hong Kong SAR (27.0 units)
- Botswana (20.0 units)
- Zimbabwe (17.0 units)
- Niger (12.0 units)
- France (11.0 units)
- Germany (3.0 units)
This report provides an in-depth analysis of the market for plastic or non-precious metal watch in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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