Price for Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria - 2023
Contents:
- Price for Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria (CIF) - 2022
- Price for Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria (FOB) - 2022
- Imports of Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria
- Exports of Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria
Price for Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria (CIF) - 2022
In 2022, the average import price for coin (other than gold coin), not being legal tender amounted to $2,644,378 per ton, jumping by 372% against the previous year. Over the period under review, the import price showed a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
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 Germany ($4,318,262 per ton), while the price for the United Arab Emirates ($15,500 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 (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria (FOB) - 2022
In 2022, the average export price for coin (other than gold coin), not being legal tender amounted to $44,000 per ton, with an increase of 14% against the previous year. In general, the export price recorded a perceptible expansion. The most prominent rate of growth was recorded in 2020 an increase of 475%. Over the period under review, the average export prices reached the peak figure at $233,833 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($84,000 per ton), while the average price for exports to the Netherlands amounted to $4,000 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+41.4%).
Imports of Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria
In 2022, supplies from abroad of coin (other than gold coin), not being legal tender decreased by -32.1% to 74 kg for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 95%. As a result, imports attained the peak of 109 kg, and then shrank remarkably in the following year.
In value terms, imports of coin (other than gold coin), not being legal tender skyrocketed to $196K in 2022. Over the period under review, imports, however, posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | N/A | N/A | N/A | 181 | 0% |
| China | 9.5 | 32.5 | 46.6 | 14.1 | 14.1% |
| United States | 0.1 | 0.3 | 0.5 | 0.1 | 0.0% |
| South Korea | N/A | N/A | N/A | 0.1 | 0% |
| Hong Kong SAR | N/A | N/A | 6.7 | N/A | 0% |
| United Arab Emirates | N/A | N/A | N/A | N/A | 0% |
| Others | 9.5 | 1.4 | 7.2 | N/A | -12.9% |
| Total | 19.0 | 34.1 | 61.1 | 196 | 117.7% |
Top Suppliers of Coin (Other than Gold Coin), Not Being Legal Tender to Nigeria in 2022:
- Germany (42.0 kg)
- China (27.0 kg)
- United Arab Emirates (2.0 kg)
- South Korea (2.0 kg)
- United States (1.0 kg)
Exports of Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria
After three years of growth, overseas shipments of coin (other than gold coin), not being legal tender decreased by -80% to 2 kg in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 400% against the previous year. As a result, the exports attained the peak of 10 kg, and then contracted markedly in the following year.
In value terms, exports of coin (other than gold coin), not being legal tender fell rapidly to $88 in 2022. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 737% against the previous year. As a result, the exports reached the peak of $385, and then declined significantly in the following year.
| Export of Coin (Other than Gold Coin), Not Being Legal Tender in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 7.0 | 44.0 | 307 | 84.0 | 128.9% |
| Netherlands | N/A | 2.0 | N/A | 4.0 | 41.4% |
| Peru | N/A | N/A | 78.0 | N/A | 0% |
| Canada | 1.0 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 8.0 | 46.0 | 385 | 88.0 | 122.4% |
Top Export Markets for Coin (Other than Gold Coin), Not Being Legal Tender from Nigeria in 2022:
- Netherlands (1.0 kg)
- Germany (1.0 kg)
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This report provides an in-depth analysis of the coin market in Nigeria.
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This report provides an in-depth analysis of the global coin market.
387
This report provides an in-depth analysis of the coin market in Nigeria.
436
This report provides an in-depth analysis of the global coin market.
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