Price for Wool, Not Carded or Combed in Nigeria - 2021
Contents:
- Price for Wool, Not Carded or Combed in Nigeria (CIF) - 2022
- Price for Wool, Not Carded or Combed in Nigeria (FOB) - 2022
- Imports of Wool, Not Carded or Combed in Nigeria
- Exports of Wool, Not Carded or Combed in Nigeria
Price for Wool, Not Carded or Combed in Nigeria (CIF) - 2022
In 2022, the average import price for wool, not carded or combed amounted to $1,351 per ton, increasing by 25% against the previous year. Overall, the import price, however, recorded a deep setback. The pace of growth appeared the most rapid in 2016 an increase of 68% against the previous year. The import price peaked at $3,332 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 India ($1,660 per ton), while the price for China stood at $1,051 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-3.5%).
Price for Wool, Not Carded or Combed in Nigeria (FOB) - 2022
In 2022, the average export price for wool, not carded or combed amounted to $2,173 per ton, with an increase of 8.9% against the previous year. Overall, the export price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2016 an increase of 36%. Over the period under review, the average export prices hit record highs at $5,104 per ton in 2012; however, from 2013 to 2022, the 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 Burkina Faso ($2,458 per ton), while the average price for exports to Niger amounted to $395 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+2.4%), while the prices for the other major destinations experienced a decline.
Imports of Wool, Not Carded or Combed in Nigeria
After two years of decline, purchases abroad of wool, not carded or combed increased by 11% to 61 tons in 2022. Overall, imports, however, continue to indicate a deep setback.
In value terms, wool, not carded or combed imports soared to $83K in 2022. In general, imports, however, showed a abrupt decline.
| Import of Wool, Not Carded or Combed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 44.9 | 49.1 | 35.1 | 45.0 | 0.1% |
| China | 76.0 | 53.6 | 22.1 | 35.7 | -22.3% |
| Egypt | 1.0 | N/A | N/A | N/A | 0% |
| Singapore | N/A | N/A | 0.7 | N/A | 0% |
| Turkey | 25.2 | N/A | N/A | N/A | 0% |
| Others | 5.0 | 3.3 | 1.9 | 2.1 | -25.1% |
| Total | 152 | 106 | 59.8 | 82.9 | -18.3% |
Top Suppliers of Wool, Not Carded or Combed to Nigeria in 2022:
- China (34.0 tons)
- India (27.1 tons)
Exports of Wool, Not Carded or Combed in Nigeria
Wool, not carded or combed exports from Nigeria dropped markedly to 1.1 tons in 2022, with a decrease of -42.9% compared with 2021. Over the period under review, exports, however, showed significant growth. The growth pace was the most rapid in 2021 when exports increased by 612%. As a result, the exports reached the peak of 1.9 tons, and then declined rapidly in the following year.
In value terms, wool, not carded or combed exports dropped rapidly to $2.3K in 2022. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 312%. As a result, the exports reached the peak of $3.7K, and then dropped significantly in the following year.
| Export of Wool, Not Carded or Combed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Burkina Faso | 1.5 | 0.7 | 3.5 | 2.2 | 13.6% |
| Niger | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Others | N/A | 0.2 | 0.1 | N/A | -50.0% |
| Total | 1.6 | 0.9 | 3.7 | 2.3 | 12.9% |
Top Export Markets for Wool, Not Carded or Combed from Nigeria in 2022:
- Burkina Faso (911.0 kg)
- Niger (147.0 kg)
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