Price for Precious Metal-Clad Jewelry of Base Metals in Nigeria - 2022
Contents:
- Price for Precious Metal-Clad Jewelry of Base Metals in Nigeria (CIF) - 2022
- Price for Precious Metal-Clad Jewelry of Base Metals in Nigeria (FOB) - 2022
- Imports of Precious Metal-Clad Jewelry of Base Metals in Nigeria
- Exports of Precious Metal-Clad Jewelry of Base Metals in Nigeria
Price for Precious Metal-Clad Jewelry of Base Metals in Nigeria (CIF) - 2022
In 2022, the average import price for base metal jewelry clad with precious metals amounted to $2,034 per ton, which is down by -42.9% against the previous year. In general, the import price saw a abrupt setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 161% against the previous year. The import price peaked at $7,514 per ton in 2015; however, from 2016 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 the UK.
From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +7.8% per year.
Price for Precious Metal-Clad Jewelry of Base Metals in Nigeria (FOB) - 2022
The average export price for base metal jewelry clad with precious metals stood at $12,814 per ton in 2022, reducing by -68.8% against the previous year. In general, the export price saw a abrupt contraction. The growth pace was the most rapid in 2018 when the average export price increased by 250% against the previous year. As a result, the export price reached the peak level of $139,688 per ton. From 2019 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($659,000 per ton), while the average price for exports to Benin ($3,512 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 France (+133.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Precious Metal-Clad Jewelry of Base Metals in Nigeria
After three years of growth, overseas purchases of base metal jewelry clad with precious metals decreased by -32.4% to 101 tons in 2022. Overall, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 2,037%.
In value terms, imports of base metal jewelry clad with precious metals fell notably to $205K in 2022. Over the period under review, imports, however, recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 1,726% against the previous year.
| Import of Precious Metal-Clad Jewelry of Base Metals in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 0.4 | 36.4 | 187 | 197 | 689.7% |
| China | 0.9 | 40.9 | 105 | N/A | 980.1% |
| Panama | N/A | 233 | N/A | N/A | 0% |
| South Africa | 9.3 | 11.4 | 105 | N/A | 236.0% |
| Others | 8.5 | 24.8 | 135 | 8.4 | -0.4% |
| Total | 19.0 | 347 | 531 | 205 | 121.0% |
Top Suppliers of Precious Metal-Clad Jewelry of Base Metals to Nigeria in 2022:
- United Kingdom (100.2 tons)
Exports of Precious Metal-Clad Jewelry of Base Metals in Nigeria
In 2022, the amount of base metal jewelry clad with precious metals exported from Nigeria soared to 1 tons, increasing by 8,383% compared with the year before. Over the period under review, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of base metal jewelry clad with precious metals surged to $13K in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Precious Metal-Clad Jewelry of Base Metals in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Democratic Republic of the Congo | N/A | N/A | N/A | 5.6 | 0% |
| Canada | N/A | N/A | 0.1 | 1.1 | 1000.0% |
| Benin | N/A | N/A | N/A | 0.9 | 0% |
| France | N/A | N/A | N/A | 0.4 | 0% |
| Others | 0.5 | 0.5 | 0.4 | 5.0 | 115.4% |
| Total | 0.5 | 0.5 | 0.5 | 13.0 | 196.2% |
Top Export Markets for Precious Metal-Clad Jewelry of Base Metals from Nigeria in 2022:
- Democratic Republic of the Congo (689.0 kg)
- Benin (248.0 kg)
- Canada (36.0 kg)
- France (16.0 kg)
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