Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria - 2022
Contents:
- Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria (CIF) - 2022
- Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria (FOB) - 2022
- Imports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria
- Exports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria
Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria (CIF) - 2022
The average import price for weighing machines; having a maximum weighing capacity exceeding 5000kgs stood at $1,584 per unit in 2022, falling by -4.6% against the previous year. Overall, the import price continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2017 an increase of 104% against the previous year. Over the period under review, average import prices hit record highs at $3,016 per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($7,435 per unit), while the price for Romania ($107 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria (FOB) - 2022
In 2022, the average export price for weighing machines; having a maximum weighing capacity exceeding 5000kgs amounted to $1,710 per unit, declining by -12.3% against the previous year. Over the period under review, the export price, however, saw prominent growth. The pace of growth was the most pronounced in 2020 an increase of 582% against the previous year. As a result, the export price attained the peak level of $2,607 per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($2,618 per unit), while the average price for exports to Ireland ($8 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 Cote d'Ivoire (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria
In 2022, overseas purchases of weighing machines; having a maximum weighing capacity exceeding 5000kgs were finally on the rise to reach 2.2K units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, faced a dramatic contraction. Imports peaked at 7.9K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, imports of weighing machines; having a maximum weighing capacity exceeding 5000kgs expanded significantly to $3.5M in 2022. In general, imports, however, recorded a precipitous contraction. Over the period under review, imports of reached the maximum at $16M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 11.8 | 5.9 | 1.5 | 1.4 | -50.9% |
| India | 0.4 | 0.1 | 0.6 | 0.6 | 14.5% |
| United Kingdom | 0.6 | 0.2 | 0.1 | 0.3 | -20.6% |
| United Arab Emirates | N/A | N/A | N/A | 0.2 | 0% |
| Netherlands | 0.1 | N/A | 0.3 | 0.1 | 0.0% |
| Others | 2.8 | 1.2 | 0.9 | 1.1 | -26.8% |
| Total | 15.8 | 7.4 | 3.4 | 3.5 | -39.5% |
Top Suppliers of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg to Nigeria in 2022:
- India (1422.0 units)
- China (372.0 units)
- Netherlands (155.0 units)
- United Arab Emirates (51.0 units)
- United Kingdom (34.0 units)
Exports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria
Exports of weighing machines; having a maximum weighing capacity exceeding 5000kgs from Nigeria skyrocketed to 32 units in 2022, jumping by 88% compared with 2021. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 144%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of weighing machines; having a maximum weighing capacity exceeding 5000kgs surged to $55K in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2020 when exports increased by 1,568%. As a result, the exports attained the peak of $57K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 2.4 | 40.6 | 20.9 | 43.7 | 163.1% |
| Cote d'Ivoire | 0.4 | 13.2 | 9.0 | 7.9 | 170.3% |
| United Kingdom | 0.2 | 1.6 | 1.7 | 1.6 | 100.0% |
| South Africa | 0.2 | 1.0 | 0.7 | 0.8 | 58.7% |
| Netherlands | 0.1 | 0.6 | 0.6 | 0.4 | 58.7% |
| Niger | N/A | 0.2 | 0.3 | 0.3 | 22.5% |
| Ghana | N/A | 0.1 | 0.1 | 0.1 | 0.0% |
| Ireland | N/A | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 3.4 | 57.4 | 33.2 | 54.7 | 152.4% |
Top Export Markets for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg from Nigeria in 2022:
- Benin (23.0 units)
- Cote d'Ivoire (3.0 units)
- Ghana (1.0 units)
- Netherlands (1.0 units)
- South Africa (1.0 units)
- United Kingdom (1.0 units)
- Ireland (1.0 units)
- Niger (1.0 units)
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