Price for Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria - 2022
Contents:
- Price for Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria (CIF) - 2022
- Price for Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria (FOB) - 2022
- Imports of Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria
- Exports of Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria
Price for Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria (CIF) - 2022
The average import price for articles of precious metal or of metal clad with precious metal stood at $28,400 per ton in 2022, with an increase of 53% against the previous year. Overall, the import price showed significant growth. The most prominent rate of growth was recorded in 2013 an increase of 1,840%. The import price peaked at $74,646 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($32,079 per ton), while the price for France ($18,634 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria (FOB) - 2022
The average export price for articles of precious metal or of metal clad with precious metal stood at $60,617 per ton in 2022, with an increase of 23% against the previous year. Over the period under review, the export price enjoyed significant growth. The most prominent rate of growth was recorded in 2016 an increase of 114%. The export price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($50,590 per ton), while the average price for exports to South Africa amounted to $9,000 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+14.7%).
Imports of Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria
In 2022, approx. 662 kg of articles of precious metal or of metal clad with precious metal were imported into Nigeria; shrinking by -12.2% on 2021. Overall, imports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 97% against the previous year.
In value terms, imports of articles of precious metal or of metal clad with precious metal skyrocketed to $19K in 2022. Over the period under review, imports faced a significant decrease. The pace of growth appeared the most rapid in 2021 with an increase of 98% against the previous year.
| Import of Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2.9 | 0.2 | 0.6 | 13.4 | 66.6% |
| China | 1.5 | 0.2 | 0.5 | 3.7 | 35.1% |
| France | 2.8 | 0.2 | 0.3 | 1.7 | -15.3% |
| Gabon | 0.4 | N/A | N/A | N/A | 0% |
| United States | 1.2 | 0.8 | 1.6 | N/A | 15.5% |
| United Arab Emirates | 22.4 | 2.1 | 4.2 | N/A | -56.7% |
| Canada | 38.0 | 0.3 | 2.7 | N/A | -73.3% |
| Others | 15.6 | 3.3 | 4.1 | N/A | -48.7% |
| Total | 84.8 | 7.1 | 14.0 | 18.8 | -39.5% |
Top Suppliers of Articles of Precious Metal or of Metal Clad with Precious Metal to Nigeria in 2022:
- India (418.0 kg)
- China (151.0 kg)
- France (93.0 kg)
Exports of Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria
Exports of articles of precious metal or of metal clad with precious metal from Nigeria surged to 1.7 tons in 2022, rising by 2,060% on the previous year. In general, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of articles of precious metal or of metal clad with precious metal surged to $102K in 2022. Over the period under review, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Articles of Precious Metal or of Metal Clad with Precious Metal in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 0.4 | 0.2 | 3.8 | 84.2 | 494.9% |
| Others | N/A | N/A | N/A | 18.0 | 0% |
| Total | 0.4 | 0.2 | 3.9 | 102 | 534.1% |
Top Export Markets for Articles of Precious Metal or of Metal Clad with Precious Metal from Nigeria in 2022:
- Germany (1664.0 kg)
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