Nigeria: Domestic Toaster Market 2024

Domestic Toaster Market Size in Nigeria

In 2022, the Nigerien domestic toaster market decreased by X% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Domestic Toaster Exports

Exports from Nigeria

In 2022, after four years of decline, there was significant growth in overseas shipments of domestic electric toasters, when their volume increased by X% to X units. Over the period under review, exports, however, recorded a dramatic decrease. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, domestic toaster exports surged to $X in 2022. Overall, exports, however, continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Angola (X units) was the main destination for domestic toaster exports from Nigeria, with a X% share of total exports. Moreover, domestic toaster exports to Angola exceeded the volume sent to the second major destination, Mauritius (X units), fourfold. The third position in this ranking was taken by Niger (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Angola amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (X% per year) and Niger (X% per year).

In value terms, the largest markets for domestic toaster exported from Nigeria were Angola ($X), Kenya ($X) and Mauritius ($X), together accounting for X% of total exports.

Among the main countries of destination, Angola, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average domestic toaster export price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, the export price attained the peak level of $X per unit, and then declined markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kenya ($X per unit), while the average price for exports to Ireland ($X 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 Kenya (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Domestic Toaster Imports

Imports into Nigeria

In 2022, supplies from abroad of domestic electric toasters decreased by X% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a noticeable curtailment. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, domestic toaster imports reached $X in 2022. In general, imports, however, continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest domestic toaster supplier to Nigeria, accounting for a X% share of total imports. Moreover, domestic toaster imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was held by Australia (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Australia (X% per year).

In value terms, China ($X) constituted the largest supplier of domestic electric toasters to Nigeria, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Australia (X% per year).

Import Prices by Country

In 2022, the average domestic toaster import price amounted to $X per unit, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per unit) and Australia ($X per unit), while the price for South Africa ($X per unit) and France ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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