Price for Slide Fasteners and Parts Thereof in Nigeria - 2022

Price for Slide Fasteners and Parts Thereof in Nigeria (CIF) - 2022

The average import price for slide fasteners and parts thereoves stood at less than $0.1 per unit in 2022, falling by -11.2% against the previous year. Over the period under review, the import price, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 135% against the previous year. Over the period under review, average import prices hit record highs at $0.2 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($0.2 per unit), while the price for Hong Kong SAR (less than $0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Slide Fasteners and Parts Thereof in Nigeria (FOB) - 2022

The average export price for slide fasteners and parts thereoves stood at $0.1 per unit in 2022, increasing by 10% against the previous year. Overall, the export price, however, continues to indicate a perceptible reduction. The growth pace was the most rapid in 2014 when the average export price increased by 30% against the previous year. As a result, the export price reached the peak level of $0.3 per unit. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($0.5 per unit), while the average price for exports to Burkina Faso (less than $0.1 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 Cameroon (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Slide Fasteners and Parts Thereof in Nigeria

In 2022, the amount of slide fasteners and parts thereoves imported into Nigeria stood at 13M units, with an increase of 6.5% against the year before. In general, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +15.8% 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 +56.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 47% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, slide fasteners and parts thereof imports declined to $467K in 2022. Over the period under review, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by 12% against the previous year. Imports peaked at $681K in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Slide Fasteners and Parts Thereof in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	515	283	262	218	-24.9%
India	18.5	0.3	36.4	63.2	50.6%
United States	52.6	43.0	70.9	62.2	5.7%
Hong Kong SAR	19.0	14.8	23.7	23.4	7.2%
Spain	15.5	12.4	20.4	20.6	9.9%
Germany	10.5	3.2	16.7	14.7	11.9%
Niger	7.6	6.3	10.8	11.3	14.1%
Others	42.7	77.7	53.3	54.3	8.3%
Total	681	441	495	467	-11.8%

Top Suppliers of Slide Fasteners and Parts Thereof to Nigeria in 2022:

China (7.5M units)
Hong Kong SAR (1.7M units)
Niger (0.7M units)
India (0.6M units)
Germany (0.5M units)
Spain (0.5M units)
United States (0.4M units)

Exports of Slide Fasteners and Parts Thereof in Nigeria

Slide fasteners and parts thereof exports from Nigeria contracted rapidly to 76K units in 2022, with a decrease of -15.8% on the previous year. Over the period under review, exports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. Over the period under review, the exports attained the maximum at 258K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, slide fasteners and parts thereof exports fell to $10K in 2022. Overall, exports faced a dramatic shrinkage. The growth pace was the most rapid in 2021 with an increase of 17%. Over the period under review, the exports attained the maximum at $48K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Slide Fasteners and Parts Thereof in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cameroon	36.6	7.0	8.2	8.1	-39.5%
Congo	2.5	1.1	1.4	1.1	-23.9%
Benin	2.2	0.6	0.8	0.6	-35.2%
Ghana	2.8	0.4	0.4	0.3	-52.5%
Burkina Faso	0.8	0.1	0.1	0.1	-50.0%
Cote d'Ivoire	0.6	0.1	0.1	0.1	-45.0%
Others	2.2	0.3	0.2	0.2	-55.0%
Total	47.7	9.7	11.3	10.5	-39.6%