Nigeria: Data Storage Device Market 2024

Data Storage Device Market Size in Nigeria

The Nigerien data storage device market amounted to $X in 2022, surging by X% against the previous year. Overall, consumption, however, showed a abrupt setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Data Storage Device Production in Nigeria

In value terms, data storage device production rose modestly to $X in 2022 estimated in export price. In general, production, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Data Storage Device Exports

Exports from Nigeria

In 2022, exports of data storage devices from Nigeria shrank rapidly to X units, with a decrease of X% compared with the previous year. In general, exports, however, continue to indicate a significant increase. The smallest decline of X% was in 2015. The exports peaked at X units in 2021, and then declined dramatically in the following year.

In value terms, data storage device exports reduced rapidly to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. Over the period under review, the exports hit record highs at $X in 2021, and then declined markedly in the following year.

Exports by Country

The Netherlands (X units), Rwanda (X units) and South Africa (X units) were the main destinations of data storage device exports from Nigeria, together accounting for X% of total exports. Ireland, Germany, Burkina Faso, Spain, France, Switzerland and Benin lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for data storage devices exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Rwanda ($X), with a X% share of total exports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (X% per year) and South Africa (X% per year).

Export Prices by Country

In 2022, the average data storage device export price amounted to $X per unit, leveling off at the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then reduced modestly in the following year.

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

Data Storage Device Imports

Imports into Nigeria

In 2022, approx. X units of data storage devices were imported into Nigeria; dropping by X% against the year before. Over the period under review, imports continue to indicate a perceptible decline. The growth pace was the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, data storage device imports declined significantly to $X in 2022. In general, imports showed a perceptible reduction. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest data storage device supplier to Nigeria, accounting for a X% share of total imports. Moreover, data storage device imports from China exceeded the figures recorded by the second-largest supplier, Hungary (X units), twofold. The third position in this ranking was taken by the UK (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and the UK (X% per year).

In value terms, China ($X) constituted the largest supplier of data storage devices to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Hungary ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and the UK (X% per year).

Import Prices by Country

The average data storage device import price stood at $X per unit in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per unit) and Hungary ($X per unit), while the price for the United Arab Emirates ($X per unit) and Taiwan (Chinese) ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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