Pumps; Parts Thereof Price in Nigeria - 2022
Contents:
- Pumps; Parts Thereof Price in Nigeria (CIF) - 2022
- Pumps; Parts Thereof Price in Nigeria (FOB) - 2022
- Pumps; Parts Thereof Imports in Nigeria
- Pumps; Parts Thereof Exports in Nigeria
Pumps; Parts Thereof Price in Nigeria (CIF) - 2022
In 2022, the average pumps; parts thereof import price amounted to $15,022 per ton, falling by -13.4% against the previous year. Over the period under review, the import price, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 60% against the previous year. The import price peaked at $28,136 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($167,000 per ton), while the price for India ($4,453 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Pumps; Parts Thereof Price in Nigeria (FOB) - 2022
In 2022, the average pumps; parts thereof export price amounted to $14,398 per ton, shrinking by -16.4% against the previous year. Overall, the export price recorded a slight decline. The growth pace was the most rapid in 2015 an increase of 71% against the previous year. As a result, the export price reached the peak level of $28,220 per ton. From 2016 to 2022, the average 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 the UK ($115,413 per ton), while the average price for exports to Benin ($646 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 Germany (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.
Pumps; Parts Thereof Imports in Nigeria
In 2022, overseas purchases of pumps; parts thereoves were finally on the rise to reach 1.1K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt downturn.
In value terms, pumps; parts thereof imports reached $17M in 2022. Overall, imports, however, saw a deep downturn.
| Import of Pumps; Parts Thereof in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.2 | 1.6 | 1.4 | 3.7 | 18.9% |
| Netherlands | 0.7 | 1.2 | 1.1 | 2.2 | 46.5% |
| India | 0.8 | 0.3 | 1.0 | 1.3 | 17.6% |
| United States | 8.9 | 2.7 | 1.6 | 1.2 | -48.7% |
| Barbados | 1.4 | 1.6 | 1.8 | 1.1 | -7.7% |
| Japan | 3.0 | 0.9 | 0.4 | 0.7 | -38.4% |
| Norway | 6.9 | 0.1 | 0.3 | 0.7 | -53.4% |
| Germany | 1.4 | 1.2 | 0.9 | 0.6 | -24.6% |
| Others | 7.5 | 21.3 | 8.3 | 5.4 | -10.4% |
| Total | 32.9 | 31.0 | 16.8 | 16.9 | -19.9% |
Top Suppliers of Pumps; Parts Thereof to Nigeria in 2022:
- China (376.0 tons)
- India (300.8 tons)
- Netherlands (208.9 tons)
- United States (111.3 tons)
- Barbados (20.9 tons)
- Norway (16.4 tons)
- Germany (5.0 tons)
- Japan (4.9 tons)
Pumps; Parts Thereof Exports in Nigeria
In 2022, after three years of growth, there was significant decline in overseas shipments of pumps; parts thereoves, when their volume decreased by -18.7% to 38 tons. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 203% against the previous year. As a result, the exports attained the peak of 47 tons, and then dropped significantly in the following year.
In value terms, pumps; parts thereof exports fell notably to $547K in 2022. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 179% against the previous year. As a result, the exports attained the peak of $805K, and then shrank markedly in the following year.
| Export of Pumps; Parts Thereof in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 31.3 | 89.9 | 273 | 196 | 84.3% |
| United Kingdom | 48.3 | 61.0 | 197 | 151 | 46.2% |
| Norway | 162 | 83.3 | 169 | 61.4 | -27.6% |
| United States | 13.1 | 14.7 | 40.4 | 31.4 | 33.8% |
| Netherlands | 4.5 | 2.6 | 10.6 | 22.8 | 71.8% |
| Germany | 7.7 | 1.9 | 5.8 | 9.4 | 6.9% |
| France | 3.8 | 1.0 | 9.2 | 6.6 | 20.2% |
| Denmark | N/A | N/A | 5.4 | 5.7 | 5.6% |
| Ghana | 1.8 | 2.2 | 7.1 | 5.3 | 43.3% |
| Cameroon | 1.3 | 1.5 | 4.7 | 3.4 | 37.8% |
| Burkina Faso | 0.7 | 1.0 | 3.4 | 2.8 | 58.7% |
| Uganda | 0.5 | 0.5 | 1.2 | 0.7 | 11.9% |
| Benin | 0.3 | 0.2 | 0.1 | 0.4 | 10.1% |
| Others | 25.7 | 29.2 | 78.7 | 50.2 | 25.0% |
| Total | 301 | 289 | 805 | 547 | 22.0% |
Top Export Markets for Pumps; Parts Thereof from Nigeria in 2022:
- France (8.4 tons)
- Cote d'Ivoire (4.7 tons)
- Norway (4.4 tons)
- United States (3.7 tons)
- Netherlands (3.4 tons)
- Cameroon (3.0 tons)
- Burkina Faso (2.2 tons)
- Ghana (1.3 tons)
- United Kingdom (1.3 tons)
- Uganda (0.9 tons)
- Germany (0.7 tons)
- Denmark (0.6 tons)
- Benin (0.6 tons)
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