Latest Report Update: May 26, 2021

Nigeria - Wool - Market Analysis, Forecast, Size, Trends And Insights
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Nigeria: Wool Market Overview 2021

Wool Market Size in Nigeria

The Nigerien wool market skyrocketed to $X in 2020, picking up by 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). Over the period under review, consumption recorded a significant expansion. The most prominent rate of growth was recorded in 2012 when the market value increased by X% y-o-y. Over the period under review, the market attained the peak level in 2020 and is likely to see gradual growth in the immediate term.

Wool Exports

Exports from Nigeria

For the fourth consecutive year, Nigeria recorded decline in overseas shipments of wool, which decreased by -X% to X tonnes in 2020. Overall, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Exports peaked at X tonnes in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

In value terms, wool exports shrank notably to $X in 2020. In general, exports recorded a significant contraction. Over the period under review, exports reached the peak figure at $X in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

Exports by Country

Botswana (X tonnes) was the main destination for wool exports from Nigeria, accounting for a approx. X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to Botswana amounted to -X%.

In value terms, Botswana ($X) also remains the key foreign market for wool exports from Nigeria.

From 2007 to 2020, the average annual rate of growth in terms of value to Botswana amounted to -X%.

Export Prices by Country

The average wool export price stood at $X per tonne in 2020, reducing by -X% against the previous year. Over the period under review, the export price showed a deep slump. The pace of growth was the most pronounced in 2012 when the average export price increased by X% y-o-y. As a result, export price reached the peak level of $X per tonne. From 2013 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Botswana.

From 2007 to 2020, the rate of growth in terms of prices for Botswana amounted to -X% per year.

Wool Imports

Imports into Nigeria

Wool imports into Nigeria skyrocketed to X tonnes in 2020, growing by X% compared with the previous year's figure. In general, total imports indicated temperate growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wool imports skyrocketed to $X in 2020. Over the period under review, imports showed a mild reduction. Imports peaked at $X in 2010; however, from 2011 to 2020, imports remained at a lower figure.

Imports by Country

China (X tonnes) and India (X tonnes) were the main suppliers of wool imports to Nigeria, with a combined X% share of total imports.

From 2007 to 2020, the biggest increases were in India.

In value terms, the largest wool suppliers to Nigeria were China ($X) and India ($X), together accounting for X% of total imports.

In terms of the main suppliers, India recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average wool import price stood at $X per tonne in 2020, jumping by X% against the previous year. Over the period under review, the import price, however, showed a noticeable setback. The import price peaked at $X per tonne in 2007; however, from 2008 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was China ($X per tonne), while the price for India amounted to $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by India.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wool in the world?
+
The countries with the highest volumes of wool consumption in 2020 were China (58K tonnes), India (44K tonnes) and the U.S. (44K tonnes), together comprising 33% of global consumption. These countries were followed by Russia, Brazil, Pakistan, Germany, the UK, Ethiopia, Lithuania, Denmark, Italy and South Korea, which together accounted for a further 27%.
What are the largest producers of wool in the world?
+
The countries with the highest volumes of wool production in 2020 were New Zealand (60K tonnes), the U.S. (42K tonnes) and Australia (29K tonnes), together comprising 29% of global production. China, Pakistan, Brazil, Russia, Kazakhstan, Syrian Arab Republic, Turkey, Germany, the UK and Ethiopia lagged somewhat behind, together comprising a further 34%.
What are the leading suppliers of wool to Nigeria?
+
In value terms, China ($51K) and India ($32K) appeared to be the largest wool suppliers to Nigeria, with a combined 100% share of total imports.
What are the leading importers of wool from Nigeria?
+
In value terms, Botswana ($1.7K) remains the key foreign market for wool exports from Nigeria.
What is the average export price for wool in Nigeria?
+
The average wool export price stood at $525 per tonne in 2020, falling by -17.4% against the previous year.
What is the average import price for wool in Nigeria?
+
The average wool import price stood at $2,513 per tonne in 2020, jumping by 27% against the previous year.

Product coverage:
• Prodcom 13102200 - Wool, degreased or carbonised, not carded or combed

This report provides an in-depth analysis of the wool market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Nigeria

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Nigeria
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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