Price for Tobacco; other than "homogenised" or "reconstituted" or "smoking" in Nigeria - 2022
Contents:
- Price for Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria (CIF) - 2022
- Price for Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria (FOB) - 2022
- Imports of Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria
- Exports of Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria
Price for Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria (CIF) - 2022
In 2022, the average import price for tobacco; other than "homogenised" or "reconstituted" or "smoking"s amounted to $2,700 per ton, rising by 9.2% against the previous year. Overall, the import price, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 123%. Over the period under review, average import prices attained the peak figure at $7,744 per ton in 2016; however, from 2017 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 Germany ($3,882 per ton), while the price for South Korea ($2,481 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria (FOB) - 2022
In 2022, the average export price for tobacco; other than "homogenised" or "reconstituted" or "smoking"s amounted to $3,222 per ton, picking up by 30% against the previous year. Over the period under review, the export price, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2016 when the average export price increased by 136%. As a result, the export price attained the peak level of $8,747 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($12,077 per ton), while the average price for exports to Niger ($200 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 Niger (-10.4%), while the prices for the other major destinations experienced a decline.
Imports of Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria
In 2022, the amount of tobacco; other than "homogenised" or "reconstituted" or "smoking"s imported into Nigeria shrank remarkably to 332 tons, which is down by -47.6% compared with 2021 figures. Overall, imports showed a dramatic setback. The smallest decline of -7% was in 2020.
In value terms, imports of tobacco; other than "homogenised" or "reconstituted" or "smoking"s dropped notably to $895K in 2022. In general, imports continue to indicate a significant curtailment. The growth pace was the most rapid in 2020 when imports increased by 107% against the previous year. As a result, imports reached the peak of $17M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Denmark | 1,436 | 1,396 | 398 | 385 | -35.5% |
| South Korea | 5,158 | 4,376 | 517 | 210 | -65.6% |
| Germany | 55.4 | 313 | 69.4 | 101 | 22.2% |
| China | 197 | 121 | 14.4 | 71.2 | -28.8% |
| United States | 79.5 | 148 | 40.8 | 58.8 | -9.6% |
| United Arab Emirates | 3.1 | 153 | 1.6 | 38.2 | 131.0% |
| Others | 1,088 | 10,081 | 524 | 32.1 | -69.1% |
| Total | 8,018 | 16,588 | 1,566 | 895 | -51.9% |
Top Suppliers of Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" to Nigeria in 2022:
- Denmark (149.5 tons)
- South Korea (84.5 tons)
- China (28.4 tons)
- Germany (25.9 tons)
- United States (22.5 tons)
- United Arab Emirates (14.3 tons)
Exports of Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria
Exports of tobacco; other than "homogenised" or "reconstituted" or "smoking"s from Nigeria fell markedly to 81 kg in 2022, reducing by -28.9% compared with 2021. Over the period under review, exports showed a dramatic decrease.
In value terms, exports of tobacco; other than "homogenised" or "reconstituted" or "smoking"s reduced to $261 in 2022. In general, exports continue to indicate a sharp setback. The smallest decline of -7.2% was in 2021.
| Export of Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 516 | 181 | 186 | 157 | -32.7% |
| Benin | 267 | 79.0 | 58.0 | 34.0 | -49.7% |
| South Africa | 134 | 40.0 | 35.0 | 25.0 | -42.9% |
| Niger | 15.0 | 4.0 | 3.0 | 2.0 | -48.9% |
| Turkey | 8,665 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | 43.0 | 0% |
| Total | 9,597 | 304 | 282 | 261 | -69.9% |
Top Export Markets for Tobacco; Other than "Homogenised" or "Reconstituted" or "Smoking" from Nigeria in 2022:
- Benin (40.0 kg)
- South Africa (15.0 kg)
- Germany (13.0 kg)
- Niger (10.0 kg)
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