Price for Seats; of Bamboo or Rattan in Nigeria - 2021

Price for Seats; of Bamboo or Rattan in Nigeria (CIF) - 2022

The average import price for seats; of bamboo or rattans stood at $81 per unit in 2022, jumping by 29% against the previous year. In general, the import price, however, showed a noticeable slump. The growth pace was the most rapid in 2020 an increase of 113% against the previous year. Over the period under review, average import prices reached the peak figure at $142 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($111 per unit), while the price for China ($78 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+38.0%), while the prices for the other major suppliers experienced a decline.

Price for Seats; of Bamboo or Rattan in Nigeria (FOB) - 2022

In 2022, the average export price for seats; of bamboo or rattans amounted to $28 per unit, with an increase of 4.1% against the previous year. In general, the export price, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2018 when the average export price increased by 253%. As a result, the export price attained the peak level of $180 per unit. From 2019 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Niger.

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to -6.3% per year.

Imports of Seats; of Bamboo or Rattan in Nigeria

In 2022, approx. 24 units of seats; of bamboo or rattans were imported into Nigeria; surging by 14% on the previous year. Overall, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 550% against the previous year. As a result, imports reached the peak of 26 units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, seats; of bamboo or rattan imports skyrocketed to $1.9K in 2022. In general, imports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 1,283% against the previous year. As a result, imports reached the peak of $2.6K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Seats; of Bamboo or Rattan in Nigeria (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	27.0	1,576	871	1,203	254.5%
China	141	851	365	624	64.2%
United States	17.0	131	81.0	111	86.9%
Others	N/A	N/A	N/A	N/A	0%
Total	185	2,558	1,317	1,938	118.8%

Top Suppliers of Seats; of Bamboo or Rattan to Nigeria in 2022:

United Kingdom (15.0 units)
China (8.0 units)
United States (1.0 units)

Exports of Seats; of Bamboo or Rattan in Nigeria

In 2022, after three years of growth, there was significant decline in shipments abroad of seats; of bamboo or rattans, when their volume decreased by -10% to 9 units. The total export volume increased at an average annual rate of +8.7% 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 2021 with an increase of 25%. As a result, the exports reached the peak of 10 units, and then fell in the following year.

In value terms, seats; of bamboo or rattan exports fell to $252 in 2022. The total export value increased at an average annual rate of +6.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 14%. As a result, the exports attained the peak of $269, and then fell in the following year.