Price for Used Pneumatic Tyres of Rubber in Nigeria - 2022
Contents:
- Price for Used Pneumatic Tyres of Rubber in Nigeria (CIF) - 2022
- Price for Used Pneumatic Tyres of Rubber in Nigeria (FOB) - 2022
- Imports of Used Pneumatic Tyres of Rubber in Nigeria
- Exports of Used Pneumatic Tyres of Rubber in Nigeria
Price for Used Pneumatic Tyres of Rubber in Nigeria (CIF) - 2022
In 2022, the average import price for used pneumatic tyres of rubbers amounted to $19 per unit, waning by -28.9% against the previous year. Overall, the import price showed a noticeable slump. The growth pace was the most rapid in 2021 when the average import price increased by 68% against the previous year. As a result, import price reached the peak level of $27 per unit, and then fell rapidly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($142 per unit), while the price for Switzerland ($7.5 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Used Pneumatic Tyres of Rubber in Nigeria (FOB) - 2022
In 2022, the average export price for used pneumatic tyres of rubbers amounted to $26 per unit, remaining stable against the previous year. In general, the export price enjoyed significant growth. The most prominent rate of growth was recorded in 2013 an increase of 4,220%. Over the period under review, the average export prices reached the peak figure at $53 per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($103 per unit), while the average price for exports to Gambia ($5 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 Gambia (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Used Pneumatic Tyres of Rubber in Nigeria
Used pneumatic tyres of rubber imports into Nigeria surged to 4.1K units in 2022, picking up by 60% on 2021 figures. Over the period under review, imports, however, saw a noticeable descent. Imports peaked at 5.4K units in 2020; however, from 2021 to 2022, imports remained at a lower figure.
In value terms, used pneumatic tyres of rubber imports stood at $78K in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 18% against the previous year. As a result, imports attained the peak of $87K. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Used Pneumatic Tyres of Rubber in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.5 | N/A | 0.3 | 13.0 | 196.2% |
| Singapore | 10.9 | 18.1 | 8.4 | 8.9 | -6.5% |
| Belgium | 35.4 | 45.4 | 11.7 | 8.9 | -36.9% |
| Taiwan (Chinese) | 5.1 | 5.3 | 4.0 | 4.0 | -7.8% |
| Germany | 3.7 | 3.6 | 2.6 | 3.6 | -0.9% |
| Switzerland | 4.4 | 3.8 | 3.3 | 3.3 | -9.1% |
| Denmark | 3.8 | 1.4 | 1.1 | 1.9 | -20.6% |
| Japan | 3.4 | 1.9 | 1.6 | 1.8 | -19.1% |
| Netherlands | 1.5 | 2.6 | 1.3 | 1.6 | 2.2% |
| Austria | 0.9 | 0.6 | 0.5 | 0.5 | -17.8% |
| Others | 4.3 | 4.3 | 33.5 | 30.1 | 91.3% |
| Total | 73.9 | 87.0 | 68.4 | 77.7 | 1.7% |
Top Suppliers of Used Pneumatic Tyres of Rubber to Nigeria in 2022:
- Belgium (627.0 units)
- Switzerland (438.0 units)
- Germany (315.0 units)
- Singapore (204.0 units)
- Taiwan (Chinese) (135.0 units)
- Denmark (121.0 units)
- China (92.0 units)
- Netherlands (70.0 units)
- Japan (61.0 units)
- Austria (51.0 units)
Exports of Used Pneumatic Tyres of Rubber in Nigeria
In 2022, after two years of decline, there was significant growth in overseas shipments of used pneumatic tyres of rubbers, when their volume increased by 176% to 293 units. Over the period under review, exports, however, showed a dramatic decrease. The exports peaked at 605 units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, used pneumatic tyres of rubber exports surged to $7.7K in 2022. In general, exports, however, continue to indicate a sharp downturn. The exports peaked at $17K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Used Pneumatic Tyres of Rubber in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 5.7 | 5.9 | 1.4 | 2.8 | -21.1% |
| Niger | 3.8 | 0.9 | 0.2 | 2.1 | -17.9% |
| Mexico | 2.0 | 2.9 | 0.7 | 1.5 | -9.1% |
| Benin | 2.3 | 0.5 | N/A | 0.5 | -39.9% |
| Ghana | 0.5 | 0.7 | 0.2 | 0.4 | -7.2% |
| Cameroon | 0.6 | 0.7 | 0.1 | 0.3 | -20.6% |
| Gambia | 0.1 | N/A | N/A | N/A | 0% |
| Others | 1.5 | 1.1 | 0.2 | 0.1 | -59.5% |
| Total | 16.5 | 12.7 | 2.8 | 7.7 | -22.4% |
Top Export Markets for Used Pneumatic Tyres of Rubber from Nigeria in 2022:
- Cote d'Ivoire (124.0 units)
- Niger (90.0 units)
- Mexico (33.0 units)
- Ghana (19.0 units)
- Cameroon (14.0 units)
- Gambia (7.0 units)
- Benin (5.0 units)
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