Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Nigeria - 2022

Contents:

  1. Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Nigeria (CIF) - 2022
  2. Imports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Nigeria

Price for Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Nigeria (CIF) - 2022

In 2022, the average import price for pocket watches and other watches, including stop-watches; battery or accumulator powereds amounted to $28 per unit, picking up by 44% against the previous year. Overall, the import price recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 63% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($29 per unit), while the price for Hong Kong SAR ($2.6 per unit) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+61.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Imports of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Nigeria

In 2022, the amount of pocket watches and other watches, including stop-watches; battery or accumulator powereds imported into Nigeria amounted to 1.1K units, remaining constant against the year before. In general, imports, however, recorded a abrupt descent. The growth pace was the most rapid in 2020 when imports increased by 5.8%. As a result, imports attained the peak of 2K units. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of pocket watches and other watches, including stop-watches; battery or accumulator powereds soared to $30K in 2022. Overall, imports, however, showed a slight shrinkage. Imports peaked at $35K in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Import of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered in Nigeria (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
China11.810.76.321.622.3%
United Kingdom2.33.40.87.749.6%
Australia1.20.90.70.6-20.6%
South Africa0.30.60.30.1-30.7%
Hong Kong SAR2.5N/A0.2N/A-71.7%
IndiaN/A1.70.8N/A-52.9%
United States7.53.86.4N/A-7.6%
CanadaN/A6.5N/AN/A0%
Others5.97.15.30.1-74.3%
Total31.534.720.830.1-1.5%

Top Suppliers of Pocket Watches and Other Watches, Including Stop-Watches; Battery or Accumulator Powered to Nigeria in 2022:

  1. China (751.0 units)
  2. United Kingdom (272.0 units)
  3. Australia (27.0 units)
  4. South Africa (12.0 units)
  5. Hong Kong SAR (7.0 units)
  6. India (6.0 units)

Source: IndexBox Market Intelligence Platform

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