Nigeria: Hand-Made Lace Market 2024

Hand-Made Lace Market Size in Nigeria

The Nigerien hand-made lace market fell dramatically to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted a moderate expansion. Hand-made lace consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Hand-Made Lace Exports

Exports from Nigeria

In 2022, overseas shipments of hand-made lace in the piece, in strips or in motifs were finally on the rise to reach X tons after four years of decline. In general, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, hand-made lace exports skyrocketed to $X in 2022. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X tons) was the main destination for hand-made lace exports from Nigeria, accounting for a X% share of total exports. Moreover, hand-made lace exports to Benin exceeded the volume sent to the second major destination, Angola (X kg), twofold. The third position in this ranking was held by the United States (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Benin stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (X% per year) and the United States (X% per year).

In value terms, the largest markets for hand-made lace exported from Nigeria were the United States ($X), Angola ($X) and the UK ($X), with a combined X% share of total exports. Benin, Ireland and Niger lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Ireland, with a CAGR of X%, recorded 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 hand-made lace export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price enjoyed moderate growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

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

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Hand-Made Lace Imports

Imports into Nigeria

In 2022, supplies from abroad of hand-made lace in the piece, in strips or in motifs decreased by X% to X tons, falling for the third consecutive year after three years of growth. Overall, imports showed a noticeable setback. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, hand-made lace imports reduced dramatically to $X in 2022. Over the period under review, imports, however, showed a strong expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest hand-made lace supplier to Nigeria, with a X% share of total imports. Moreover, hand-made lace imports from China exceeded the figures recorded by the second-largest supplier, Panama (X tons), threefold. The third position in this ranking was held by India (X kg), 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: Panama (X% per year) and India (X% per year).

In value terms, the largest hand-made lace suppliers to Nigeria were China ($X), Panama ($X) and India ($X), with a combined X% share of total imports.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average hand-made lace import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price posted strong growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. The import price peaked at $X per ton in 2016; however, from 2017 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 India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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