Nigeria - Cultured Pearls, Precious Or Semi-Precious Stones - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Precious Stone and Pearl in Nigeria - 2022
Contents:
- Price for Precious Stone and Pearl in Nigeria (CIF) - 2022
- Price for Precious Stone and Pearl in Nigeria (FOB) - 2022
- Imports of Precious Stone and Pearl in Nigeria
- Exports of Precious Stone and Pearl in Nigeria
Price for Precious Stone and Pearl in Nigeria (CIF) - 2022
The average precious stone and pearl import price stood at $1,958 per ton in 2022, almost unchanged from the previous year. Overall, the import price recorded a deep reduction. The growth pace was the most rapid in 2014 an increase of 171% against the previous year. Over the period under review, average import prices reached the peak figure at $20,100 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($92,829 per ton), while the price for France ($98 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+53.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Precious Stone and Pearl in Nigeria (FOB) - 2022
The average precious stone and pearl export price stood at $246 per ton in 2022, growing by 10% against the previous year. Over the period under review, the export price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2013 an increase of 149% against the previous year. As a result, the export price reached the peak level of $1,117 per ton. From 2014 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($33 per ton), while the average price for exports to Benin ($0.6 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 Thailand (+32.0%), while the prices for the other major destinations experienced a decline.
Imports of Precious Stone and Pearl in Nigeria
Precious stone and pearl imports into Nigeria fell to 6.1 tons in 2022, waning by -13.9% compared with the previous year's figure. In general, imports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 38% against the previous year.
In value terms, precious stone and pearl imports dropped to $12K in 2022. Overall, imports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year.
| Import of Precious Stone and Pearl in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 4.7 | 4.9 | 7.0 | 4.6 | -0.7% |
| Thailand | 0.1 | 0.4 | 0.2 | 0.6 | 81.7% |
| France | N/A | N/A | N/A | 0.1 | 0% |
| South Africa | N/A | N/A | 2.1 | N/A | 0% |
| Saudi Arabia | 25.8 | N/A | N/A | N/A | 0% |
| Others | 38.0 | 4.6 | 4.7 | 6.6 | -44.2% |
| Total | 68.7 | 9.9 | 14.0 | 11.9 | -44.3% |
Top Suppliers of Precious Stone and Pearl to Nigeria in 2022:
- Thailand (3.6 tons)
- France (1.2 tons)
Exports of Precious Stone and Pearl in Nigeria
In 2022, exports of cultured pearls, precious or semi-precious stones from Nigeria expanded remarkably to 28K tons, picking up by 7.7% on the year before. The total export volume increased at an average annual rate of +9.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 41% against the previous year. As a result, the exports reached the peak of 30K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, precious stone and pearl exports surged to $6.8M in 2022. The total export value increased at an average annual rate of +7.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Precious Stone and Pearl in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 531 | 401 | 879 | 1,362 | 36.9% |
| Thailand | 50.1 | 101 | 961 | 565 | 124.3% |
| China | 1.9 | 5.5 | 33.5 | 206 | 376.8% |
| Taiwan (Chinese) | 43.3 | 5.1 | 4.0 | 18.2 | -25.1% |
| Benin | 2.4 | 0.4 | 1.5 | 1.1 | -22.9% |
| Others | 4,812 | 5,537 | 3,866 | 4,673 | -1.0% |
| Total | 5,440 | 6,049 | 5,745 | 6,825 | 7.9% |
Top Export Markets for Precious Stone and Pearl from Nigeria in 2022:
- Thailand (18.1K tons)
- China (6.2K tons)
- Benin (2.0K tons)
- France (0.4K tons)
This report provides an in-depth analysis of the market for precious stone and pearl 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 32121100 - Cultured pearls, precious or semi-precious stones, including synthetic or reconstructed, worked but not set
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
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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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