Price for Article of Natural Cork in Nigeria - 2022
Contents:
- Price for Article of Natural Cork in Nigeria (CIF) - 2022
- Price for Article of Natural Cork in Nigeria (FOB) - 2022
- Imports of Article of Natural Cork in Nigeria
- Exports of Article of Natural Cork in Nigeria
Price for Article of Natural Cork in Nigeria (CIF) - 2022
The average article of natural cork import price stood at $2,339 per ton in 2022, dropping by -15.1% against the previous year. Overall, the import price showed a pronounced downturn. The most prominent rate of growth was recorded in 2021 an increase of 87% against the previous year. Over the period under review, average import prices hit record highs at $8,764 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($6,292 per ton), while the price for South Africa ($964 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Article of Natural Cork in Nigeria (FOB) - 2022
In 2022, the average article of natural cork export price amounted to $18,771 per ton, with an increase of 57% against the previous year. Overall, the export price recorded noticeable growth. The pace of growth was the most pronounced in 2021 when the average export price increased by 71% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($18,778 per ton), while the average price for exports to Ghana stood at $18,384 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+20.8%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Article of Natural Cork in Nigeria
Article of natural cork imports into Nigeria rose notably to 333 tons in 2022, increasing by 12% on 2021 figures. Over the period under review, imports saw resilient growth. The growth pace was the most rapid in 2020 with an increase of 254% against the previous year. As a result, imports attained the peak of 930 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, article of natural cork imports reduced to $778K in 2022. Overall, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 136%. As a result, imports reached the peak of $1.4M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Article of Natural Cork in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 114 | 559 | 141 | 192 | 19.0% |
| Slovenia | 45.8 | 76.1 | 121 | 120 | 37.9% |
| Italy | 64.2 | 120 | 77.4 | 76.9 | 6.2% |
| South Africa | 133 | 91.7 | 1.0 | 61.4 | -22.7% |
| United Arab Emirates | 6.2 | 70.8 | 60.9 | 60.5 | 113.7% |
| Spain | 18.7 | 57.2 | 56.3 | 55.9 | 44.1% |
| India | 24.8 | 59.7 | 42.3 | 42.1 | 19.3% |
| United States | 27.9 | 23.7 | 17.0 | 19.3 | -11.6% |
| Others | 145 | 313 | 303 | 150 | 1.1% |
| Total | 580 | 1,371 | 819 | 778 | 10.3% |
Top Suppliers of Article of Natural Cork to Nigeria in 2022:
- China (148.8 tons)
- South Africa (63.6 tons)
- United Arab Emirates (42.0 tons)
- Slovenia (22.5 tons)
- United States (13.6 tons)
- Italy (12.2 tons)
- Spain (9.7 tons)
- India (9.0 tons)
Exports of Article of Natural Cork in Nigeria
In 2022, approx. 28 kg of articles of natural cork were exported from Nigeria; declining by -66.7% against the previous year's figure. Over the period under review, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 950%. As a result, the exports attained the peak of 84 kg, and then dropped significantly in the following year.
In value terms, article of natural cork exports reduced sharply to $529 in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 1,689% against the previous year. As a result, the exports reached the peak of $1K, and then declined dramatically in the following year.
| Export of Article of Natural Cork in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | N/A | 32.0 | 965 | 520 | 303.1% |
| Ghana | N/A | 24.0 | 37.0 | 9.0 | -38.8% |
| Germany | 212 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 212 | 56.0 | 1,002 | 529 | 35.6% |
Top Export Markets for Article of Natural Cork from Nigeria in 2022:
- South Africa (28.0 kg)
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