Nigeria: Market for Furnishing Articles, Furniture and Cushion Covers 2024

Market Size for Furnishing Articles, Furniture and Cushion Covers in Nigeria

The Nigerien market for furnishing articles, furniture and cushion covers dropped to $X in 2022, with a decrease of X% against the previous year. Overall, consumption showed a perceptible setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Furnishing Articles, Furniture and Cushion Covers in Nigeria

In value terms, production of furnishing articles, furniture and cushion covers soared to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Production of peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Furnishing Articles, Furniture and Cushion Covers

Exports from Nigeria

In 2022, after three years of growth, there was significant decline in shipments abroad of furnishing articles, furniture and cushion covers, when their volume decreased by X% to X tons. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, exports of furnishing articles, furniture and cushion covers shrank notably to $X in 2022. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports of attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Niger (X tons) was the main destination for exports of furnishing articles, furniture and cushion covers from Nigeria, with a X% share of total exports. Moreover, exports of furnishing articles, furniture and cushion covers to Niger exceeded the volume sent to the second major destination, Senegal (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Niger stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (X.4% per year) and Democratic Republic of the Congo (X% per year).

In value terms, Niger ($X) remains the key foreign market for furnishing articles, furniture and cushion covers exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Niger totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (X% per year) and Democratic Republic of the Congo (X% per year).

Export Prices by Country

In 2022, the average export price for furnishing articles, furniture and cushion covers amounted to $X per ton, falling by X% against the previous year. In general, the export price recorded a abrupt contraction. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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 Senegal ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X 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 Congo (X%), while the prices for the other major destinations experienced a decline.

Imports of Furnishing Articles, Furniture and Cushion Covers

Imports into Nigeria

In 2022, approx. X tons of furnishing articles, furniture and cushion covers were imported into Nigeria; with a decrease of X% compared with the year before. In general, imports recorded a deep contraction. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports of hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of furnishing articles, furniture and cushion covers dropped dramatically to $X in 2022. Overall, imports saw a deep setback. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports of reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of furnishing article, furniture and cushion cover to Nigeria, with a X% share of total imports. Moreover, imports of furnishing articles, furniture and cushion covers from China exceeded the figures recorded by the second-largest supplier, Ghana (X tons), threefold. France (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, the largest furnishing article, furniture and cushion cover suppliers to Nigeria were China ($X), France ($X) and Ghana ($X), with a combined X% share of total imports.

Among the main suppliers, France, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for furnishing articles, furniture and cushion covers stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price saw a pronounced decrease. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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