Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria - 2023
Contents:
- Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria (CIF) - 2023
- Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria (FOB) - 2022
- Imports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria
- Exports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria
Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria (CIF) - 2023
In December 2023, the average import price for fabrics, woven; from strip or the like, of synthetic textile materialses amounted to $1.8 per square meter, surging by 49% against the previous month. Over the period under review, the import price showed a prominent increase. The most prominent rate of growth was recorded in May 2023 an increase of 223% against the previous month. Over the period under review, average import prices reached the maximum in December 2023.
As there is only one major supplying country, the average price level is determined by prices for China.
From January 2023 to December 2023, the rate of growth in terms of prices for China amounted to +8.0% per month.
Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria (FOB) - 2022
In 2022, the average export price for fabrics, woven; from strip or the like, of synthetic textile materialses amounted to $0.3 per square meter, with a decrease of -86.8% against the previous year. Overall, the export price saw a dramatic setback. The most prominent rate of growth was recorded in 2021 an increase of 444% against the previous year. The export price peaked at $2.9 per square meter in 2013; however, from 2014 to 2022, the 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 South Africa ($3.2 per square meter), while the average price for exports to Benin ($0.1 per square meter) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria
For the third year in a row, Nigeria recorded decline in supplies from abroad of fabrics, woven; from strip or the like, of synthetic textile materialses, which decreased by -24% to 14M square meters in 2022. Overall, imports recorded a sharp slump. Over the period under review, imports of fabrics, woven; from strip or like, of synthetic textile materialses attained the peak figure at 55M square meters in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, imports of fabrics, woven; from strip or the like, of synthetic textile materialses fell dramatically to $2M in 2022. In general, imports saw a dramatic slump. The smallest decline of -11% was in 2021. Imports peaked at $4.4M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.2 | 1.3 | 1.2 | 1.7 | -19.0% |
| Saudi Arabia | 1.0 | 1.6 | 1.3 | 0.1 | -53.6% |
| Others | 0.2 | 0.2 | 0.3 | 0.1 | -20.6% |
| Total | 4.4 | 3.1 | 2.7 | 2.0 | -23.1% |
Top Suppliers of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials to Nigeria in 2022:
- China (12.9M square meters)
- Saudi Arabia (0.3M square meters)
Exports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria
For the fourth consecutive year, Nigeria recorded growth in shipments abroad of fabrics, woven; from strip or the like, of synthetic textile materialses, which increased by 412% to 8.1K square meters in 2022. Over the period under review, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of fabrics, woven; from strip or the like, of synthetic textile materialses shrank significantly to $2.7K in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 525%. As a result, the exports attained the peak of $4K, and then declined notably in the following year.
| Export of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | N/A | N/A | 135 | 1,303 | 865.2% |
| Ireland | N/A | N/A | N/A | 626 | 0% |
| South Africa | N/A | N/A | 7.0 | 566 | 7985.7% |
| Benin | N/A | N/A | N/A | 136 | 0% |
| Namibia | N/A | 38.0 | 445 | 51.0 | 15.8% |
| Ghana | 257 | N/A | 675 | 33.0 | -49.6% |
| Cameroon | N/A | 349 | N/A | N/A | 0% |
| Swaziland | 327 | N/A | N/A | N/A | 0% |
| Egypt | N/A | 140 | 6.0 | N/A | -95.7% |
| Others | 68.0 | 114 | 2,739 | N/A | 534.7% |
| Total | 652 | 641 | 4,007 | 2,715 | 60.9% |
Top Export Markets for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials from Nigeria in 2022:
- Niger (5.1K square meters)
- Ireland (1.6K square meters)
- Benin (1.0K square meters)
- South Africa (0.2K square meters)
- Ghana (0.1K square meters)
- Namibia (0.1K square meters)
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