Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria - 2023

Contents:

1. Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria (CIF) - 2022
2. Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria (FOB) - 2022
3. Imports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria
4. Exports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria

Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria (CIF) - 2022

The average import price for calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 stood at $1,338 per ton in 2022, waning by -52.6% against the previous year. In general, the import price showed a precipitous curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by 11% against the previous year. Over the period under review, average import prices attained the peak figure at $43,236 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($10,564 per ton), while the price for Egypt ($90 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-10.2%), while the prices for the other major suppliers experienced a decline.

Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria (FOB) - 2022

The average export price for calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 stood at $171,474 per ton in 2022, surging by 405% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2017 when the average export price increased by 614%. Over the period under review, the average export prices reached the peak figure at $281,300 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($180,239 per ton), while the average price for exports to Sweden amounted to $134,818 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+59.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria

In 2022, imports of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 into Nigeria fell dramatically to 14 tons, with a decrease of -72.2% on 2021. Overall, imports faced a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 534%. As a result, imports reached the peak of 52 tons, and then contracted dramatically in the following year.

In value terms, imports of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 dropped significantly to $19K in 2022. Over the period under review, imports saw a precipitous descent. The pace of growth appeared the most rapid in 2021 when imports increased by 179%. As a result, imports attained the peak of $147K, and then declined markedly in the following year.

Top Suppliers of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 to Nigeria in 2022:

1. United States (7.0 tons)
2. Egypt (6.7 tons)
3. Germany (0.3 tons)
4. Ireland (0.2 tons)
5. China (0.1 tons)

Exports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in Nigeria

For the fourth consecutive year, Nigeria recorded growth in shipments abroad of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29, which increased by 14% to 57 kg in 2022. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2021 with an increase of 355% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, exports of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 surged to $9.8K in 2022. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 859% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 from Nigeria in 2022:

1. Netherlands (46.0 kg)
2. Sweden (11.0 kg)

Source: IndexBox Market Intelligence Platform