Price for Winding Wire, Other than of Copper in Nigeria - 2023
Contents:
- Price for Winding Wire, Other than of Copper in Nigeria (CIF) - 2022
- Price for Winding Wire, Other than of Copper in Nigeria (FOB) - 2022
- Imports of Winding Wire, Other than of Copper in Nigeria
- Exports of Winding Wire, Other than of Copper in Nigeria
Price for Winding Wire, Other than of Copper in Nigeria (CIF) - 2022
The average import price for winding wire, other than of coppers stood at $2,049 per ton in 2022, falling by -49.9% against the previous year. Overall, the import price saw a abrupt decrease. The pace of growth appeared the most rapid in 2015 an increase of 3,818%. As a result, import price attained the peak level of $210,865 per ton. From 2016 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($12,894 per ton), while the price for China ($1,653 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+24.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Winding Wire, Other than of Copper in Nigeria (FOB) - 2022
In 2022, the average export price for winding wire, other than of coppers amounted to $2,286 per ton, increasing by 11% against the previous year. Overall, the export price, however, continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the average export price increased by 1,947%. Over the period under review, the average export prices hit record highs at $6,814 per ton in 2013; however, from 2014 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 Niger ($4,239 per ton), while the average price for exports to Angola ($760 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 Niger (+2.0%), while the prices for the other major destinations experienced a decline.
Imports of Winding Wire, Other than of Copper in Nigeria
Imports of winding wire, other than of coppers into Nigeria soared to 1K tons in 2022, with an increase of 23% on the previous year's figure. Overall, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +23.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.1% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 48%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, imports of winding wire, other than of coppers fell to $3.1M in 2022. The total import value increased at an average annual rate of +10.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 38%.
| Import of Winding Wire, Other than of Copper in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 701 | 1,574 | 2,599 | 1,995 | 41.7% |
| China | 208 | 323 | 241 | 472 | 31.4% |
| Lebanon | 77.4 | N/A | N/A | 325 | 61.3% |
| United States | 484 | 39.4 | 34.4 | 13.2 | -69.9% |
| Portugal | N/A | 51.3 | N/A | N/A | 0% |
| Turkey | 645 | 785 | 0.4 | N/A | -97.5% |
| Others | 186 | 401 | 603 | 317 | 19.4% |
| Total | 2,300 | 3,172 | 3,477 | 3,122 | 10.7% |
Top Suppliers of Winding Wire, Other than of Copper to Nigeria in 2022:
- India (676.8 tons)
- China (285.7 tons)
- Lebanon (70.2 tons)
- United States (4.2 tons)
Exports of Winding Wire, Other than of Copper in Nigeria
For the third consecutive year, Nigeria recorded decline in shipments abroad of winding wire, other than of coppers, which decreased by -34.5% to 3 tons in 2022. Overall, exports recorded a sharp decrease. The smallest decline of -3.3% was in 2020.
In value terms, exports of winding wire, other than of coppers dropped sharply to $7K in 2022. In general, exports saw a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 98%. As a result, the exports attained the peak of $9.5K, and then declined remarkably in the following year.
| Export of Winding Wire, Other than of Copper in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 0.2 | 0.4 | 6.2 | 3.1 | 149.3% |
| Benin | 2.1 | 4.0 | 2.1 | 3.1 | 13.9% |
| Angola | N/A | 0.2 | 0.1 | 0.1 | -29.3% |
| Ghana | 4.8 | N/A | N/A | N/A | 0% |
| Others | 1.7 | 0.2 | 1.1 | 0.8 | -22.2% |
| Total | 8.9 | 4.8 | 9.5 | 7.0 | -7.7% |
Top Export Markets for Winding Wire, Other than of Copper from Nigeria in 2022:
- Benin (2060.0 kg)
- Niger (725.0 kg)
- Angola (96.0 kg)
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