Price for Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria - 2023
Contents:
- Price for Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria (CIF) - 2022
- Price for Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria (FOB) - 2022
- Imports of Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria
- Exports of Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria
Price for Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria (CIF) - 2022
In 2022, the average import price for cotton yarn (other than sewing thread), put up for retail sale amounted to $3,953 per ton, surging by 133% against the previous year. Over the period under review, the import price enjoyed a resilient increase. Over the period under review, average import prices hit record highs at $4,379 per ton in 2015; however, from 2016 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 the UK ($7,098 per ton), while the price for China ($1,170 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria (FOB) - 2022
The average export price for cotton yarn (other than sewing thread), put up for retail sale stood at $4,268 per ton in 2022, falling by -5.7% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 31% against the previous year. As a result, the export price reached the peak level of $5,109 per ton. From 2019 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($7,614 per ton), while the average price for exports to Benin amounted to $4,033 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria
In 2022, purchases abroad of cotton yarn (other than sewing thread), put up for retail sale decreased by -85.1% to 183 tons, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a dramatic downturn. The pace of growth was the most pronounced in 2020 with an increase of 0.8% against the previous year. As a result, imports attained the peak of 11K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of cotton yarn (other than sewing thread), put up for retail sale reduced dramatically to $724K in 2022. Overall, imports saw a dramatic decline. The most prominent rate of growth was recorded in 2020 with an increase of 35% against the previous year. As a result, imports reached the peak of $16M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 0.4 | 0.5 | 0.5 | 0.5 | 7.7% |
| India | N/A | N/A | N/A | 0.1 | 0% |
| China | 11.2 | 14.6 | 1.6 | 0.1 | -79.3% |
| Kenya | N/A | N/A | N/A | N/A | 0% |
| Singapore | N/A | 0.1 | N/A | N/A | 0% |
| Others | 0.2 | 0.7 | N/A | N/A | 250.0% |
| Total | 11.9 | 16.0 | 2.1 | 0.7 | -61.1% |
Top Suppliers of Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale to Nigeria in 2022:
- United Kingdom (76.5 tons)
- China (74.1 tons)
- India (22.0 tons)
- Kenya (7.8 tons)
Exports of Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria
In 2022, approx. 7.4 tons of cotton yarn (other than sewing thread), put up for retail sale were exported from Nigeria; jumping by 76% compared with 2021. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 964% against the previous year. As a result, the exports attained the peak of 11 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of cotton yarn (other than sewing thread), put up for retail sale skyrocketed to $31K in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 819%. As a result, the exports reached the peak of $44K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 0.7 | 6.2 | 6.2 | 29.0 | 246.0% |
| Niger | 0.9 | 37.7 | 10.1 | 1.1 | 6.9% |
| Ghana | 3.2 | N/A | 2.3 | N/A | -15.2% |
| Others | N/A | 0.1 | 0.4 | 1.4 | 274.2% |
| Total | 4.8 | 44.0 | 19.0 | 31.5 | 87.2% |
Top Export Markets for Cotton Yarn (Other than Sewing Thread), Put Up for Retail Sale from Nigeria in 2022:
- Benin (7.2 tons)
- Niger (0.1 tons)
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