Nigeria: Knotted Carpet Market 2024

Knotted Carpet Market Size in Nigeria

The Nigerien knotted carpet market contracted sharply to $X in 2022, shrinking by -41.4% 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). Over the period under review, consumption recorded a drastic downturn. Knotted carpet consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Knotted Carpet Exports

Exports from Nigeria

In 2022, overseas shipments of knotted carpets and other knotted textile floor coverings decreased by -8.1% to X square meters for the first time since 2017, thus ending a four-year rising trend. Overall, exports showed a slight shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 211%. The exports peaked at X square meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, knotted carpet exports declined to $X in 2022. In general, exports, however, enjoyed a mild expansion. The pace of growth appeared the most rapid in 2015 with an increase of 166%. The exports peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

Niger (X square meters) was the main destination for knotted carpet exports from Nigeria, with a 90% share of total exports. Moreover, knotted carpet exports to Niger exceeded the volume sent to the second major destination, Tanzania (X square meters), more than tenfold. The third position in this ranking was taken by Ghana (X square meters), with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume to Niger totaled -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (-41.7% per year) and Ghana (-2.2% per year).

In value terms, Niger ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from Nigeria, comprising 87% of total exports. The second position in the ranking was held by Ghana ($X), with a 5.3% share of total exports. It was followed by Tanzania, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to Niger was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+10.6% per year) and Tanzania (-61.2% per year).

Export Prices by Country

In 2022, the average knotted carpet export price amounted to $X per square meter, increasing by 4% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, knotted carpet export price increased by +24.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 57% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per square meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per square meter), while the average price for exports to Benin ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+13.1%), while the prices for the other major destinations experienced mixed trend patterns.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Knotted Carpet Imports

Imports into Nigeria

In 2022, the amount of knotted carpets and other knotted textile floor coverings imported into Nigeria dropped notably to X square meters, with a decrease of -41.4% on 2021 figures. Overall, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of 581% against the previous year. Imports peaked at X square meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, knotted carpet imports fell dramatically to $X in 2022. In general, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 1,952%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X square meters) constituted the largest knotted carpet supplier to Nigeria, accounting for a 30% share of total imports. Moreover, knotted carpet imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X square meters), twofold. China (X square meters) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+20.4% per year) and China (-12.5% per year).

In value terms, Spain ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to Nigeria, comprising 36% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain totaled +40.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-13.2% per year) and the United Arab Emirates (+4.5% per year).

Import Prices by Country

The average knotted carpet import price stood at $X per square meter in 2022, surging by 21% against the previous year. Overall, the import price, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2015 an increase of 201% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2016 to 2022, the average import prices remained at a lower figure.

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 Spain ($X per square meter), while the price for Germany ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :