Price for Electrical Push-Button and Rotary Switch in Nigeria - 2023
Contents:
- Price for Electrical Push-Button and Rotary Switch in Nigeria (CIF) - 2022
- Price for Electrical Push-Button and Rotary Switch in Nigeria (FOB) - 2022
- Imports of Electrical Push-Button and Rotary Switch in Nigeria
- Exports of Electrical Push-Button and Rotary Switch in Nigeria
Price for Electrical Push-Button and Rotary Switch in Nigeria (CIF) - 2022
In 2022, the average import price for electrical push-button and rotary switches for under 1000 v amounted to $0.1 per unit, shrinking by -4% against the previous year. Overall, the import price, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 80% against the previous year. The import price peaked at $0.3 per unit 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 Germany ($1.4 per unit), while the price for India ($0.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electrical Push-Button and Rotary Switch in Nigeria (FOB) - 2022
The average export price for electrical push-button and rotary switches for under 1000 v stood at $0.2 per unit in 2022, falling by -22% against the previous year. Overall, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2018 an increase of 98%. Over the period under review, the average export prices attained the peak figure at $0.5 per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($1.7 per unit), while the average price for exports to Niger (less than $0.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+140.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electrical Push-Button and Rotary Switch in Nigeria
In 2022, approx. 156M units of electrical push-button and rotary switches for under 1000 v were imported into Nigeria; increasing by 28% on the previous year's figure. In general, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +13.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.5% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 77% against the previous year. As a result, imports attained the peak of 191M units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, electrical push-button and rotary switch imports surged to $20M in 2022. The total import value increased at an average annual rate of +12.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 30% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.
| Import of Electrical Push-Button and Rotary Switch in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.3 | 4.7 | 5.3 | 8.5 | 25.5% |
| India | 3.3 | 3.9 | 3.0 | 5.0 | 14.9% |
| Others | 6.7 | 9.9 | 7.9 | 6.6 | -0.5% |
| Total | 14.2 | 18.5 | 16.3 | 20.1 | 12.3% |
Top Suppliers of Electrical Push-Button and Rotary Switch to Nigeria in 2022:
- China (88.9M units)
- India (56.0M units)
Exports of Electrical Push-Button and Rotary Switch in Nigeria
In 2022, shipments abroad of electrical push-button and rotary switches for under 1000 v decreased by -31.4% to 866K units, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 105% against the previous year. As a result, the exports reached the peak of 1.8M units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, electrical push-button and rotary switch exports shrank sharply to $149K in 2022. Overall, exports showed a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 73% against the previous year. As a result, the exports attained the peak of $438K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Electrical Push-Button and Rotary Switch in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 13.6 | N/A | 60.1 | 39.6 | 42.8% |
| United States | N/A | N/A | 2.1 | 37.4 | 1681.0% |
| Togo | N/A | N/A | N/A | 15.3 | 0% |
| Kenya | N/A | 3.9 | 17.0 | 12.1 | 76.1% |
| Niger | 7.1 | 19.2 | 10.8 | 7.2 | 0.5% |
| Angola | 2.1 | 7.3 | 0.1 | 3.3 | 16.3% |
| Benin | N/A | 0.2 | 1.1 | 2.7 | 267.4% |
| Czech Republic | 44.4 | 235 | N/A | 0.3 | -81.1% |
| Cote d'Ivoire | 160 | 117 | 148 | N/A | -3.8% |
| Gabon | N/A | N/A | 30.4 | N/A | 0% |
| Others | 25.3 | 55.2 | 8.4 | 30.5 | 6.4% |
| Total | 253 | 438 | 278 | 149 | -16.2% |
Top Export Markets for Electrical Push-Button and Rotary Switch from Nigeria in 2022:
- Niger (508.7K units)
- Benin (161.2K units)
- Kenya (60.4K units)
- Ghana (43.9K units)
- Angola (23.0K units)
- United States (21.8K units)
- Togo (16.7K units)
- Czech Republic (0.3K units)
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