Price for Electrical Fuses for over 1000 V in Nigeria - 2023
Contents:
- Price for Electrical Fuses for over 1000 V in Nigeria (CIF) - 2022
- Price for Electrical Fuses for over 1000 V in Nigeria (FOB) - 2022
- Imports of Electrical Fuses for over 1000 V in Nigeria
- Exports of Electrical Fuses for over 1000 V in Nigeria
Price for Electrical Fuses for over 1000 V in Nigeria (CIF) - 2022
The average import price for electrical fuses for over 1000 v stood at $0.3 per unit in 2022, growing by 19% against the previous year. Overall, the import price, however, showed a slight reduction. The growth pace was the most rapid in 2014 an increase of 208% against the previous year. Over the period under review, average import prices attained the peak figure at $2.8 per unit 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 China ($0.3 per unit), while the price for India totaled $0.2 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.8%).
Price for Electrical Fuses for over 1000 V in Nigeria (FOB) - 2022
In 2022, the average export price for electrical fuses for over 1000 v amounted to less than $0.1 per unit, dropping by -99.5% against the previous year. Overall, the export price showed a dramatic contraction. The pace of growth was the most pronounced in 2018 when the average export price increased by 462%. Over the period under review, the average export prices hit record highs at $20 per unit in 2014; however, from 2015 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 Cote d'Ivoire ($2.2 per unit), while the average price for exports to Democratic Republic of the Congo stood at less than $0.1 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+8.0%), while the prices for the other major destinations experienced a decline.
Imports of Electrical Fuses for over 1000 V in Nigeria
In 2022, supplies from abroad of electrical fuses for over 1000 v decreased by -40.9% to 46M units, falling for the second consecutive year after two years of growth. In general, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 347%. As a result, imports reached the peak of 92M units. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of electrical fuses for over 1000 v dropped dramatically to $12M in 2022. Overall, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 352%. Over the period under review, imports of reached the peak figure at $18M in 2021, and then shrank notably in the following year.
| Import of Electrical Fuses for over 1000 V in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.6 | 9.9 | 13.9 | 9.3 | 79.8% |
| India | 0.7 | 2.9 | 3.1 | 2.4 | 50.8% |
| Others | 0.6 | 0.4 | 0.6 | 0.7 | 5.3% |
| Total | 2.9 | 13.1 | 17.6 | 12.4 | 62.3% |
Top Suppliers of Electrical Fuses for over 1000 V to Nigeria in 2022:
- China (31.8M units)
- India (12.7M units)
Exports of Electrical Fuses for over 1000 V in Nigeria
Exports of electrical fuses for over 1000 v from Nigeria soared to 14K units in 2022, jumping by 618% compared with the previous year's figure. In general, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of electrical fuses for over 1000 v dropped dramatically to $208 in 2022. Over the period under review, exports, however, continue to indicate a significant decline. The most prominent rate of growth was recorded in 2021 when exports increased by 436% against the previous year. As a result, the exports reached the peak of $6.1K, and then dropped rapidly in the following year.
| Export of Electrical Fuses for over 1000 V in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cote d'Ivoire | 382 | 1,120 | 4,896 | 200 | -19.4% |
| Democratic Republic of the Congo | N/A | N/A | N/A | 8.0 | 0% |
| Cameroon | 949 | N/A | N/A | N/A | 0% |
| Egypt | N/A | N/A | 1,156 | N/A | 0% |
| Angola | 195 | N/A | 62.0 | N/A | -43.6% |
| Others | N/A | 25.0 | 22.0 | N/A | -12.0% |
| Total | 1,526 | 1,145 | 6,136 | 208 | -48.5% |
Top Export Markets for Electrical Fuses for over 1000 V from Nigeria in 2022:
- Democratic Republic of the Congo (14.1K units)
- Cote d'Ivoire (0.1K units)
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