Price for Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria - 2023
Contents:
- Price for Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria (CIF) - 2022
- Price for Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria (FOB) - 2022
- Imports of Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria
- Exports of Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria
Price for Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria (CIF) - 2022
In 2022, the average import price for fibres; waste (including noils, yarn waste and garnetted stock), of synthetic fibreses amounted to $454 per ton, shrinking by -12.8% against the previous year. In general, the import price recorded a abrupt contraction. The growth pace was the most rapid in 2018 an increase of 58% against the previous year. As a result, import price reached the peak level of $1,359 per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($2,855 per ton), while the price for Italy ($155 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.6%), while the prices for the other major suppliers experienced a decline.
Price for Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria (FOB) - 2022
In 2022, the average export price for fibres; waste (including noils, yarn waste and garnetted stock), of synthetic fibreses amounted to $504 per ton, falling by -2.2% against the previous year. Overall, the export price saw a abrupt descent. The export price peaked at $720 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for India.
From 2018 to 2022, the rate of growth in terms of prices for India amounted to -1.6% per year.
Imports of Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria
In 2022, approx. 258 tons of fibres; waste (including noils, yarn waste and garnetted stock), of synthetic fibreses were imported into Nigeria; increasing by 57% compared with the previous year. Overall, imports saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 3,649%. As a result, imports reached the peak of 519 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of fibres; waste (including noils, yarn waste and garnetted stock), of synthetic fibreses skyrocketed to $117K in 2022. Over the period under review, imports showed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 3,820% against the previous year. As a result, imports attained the peak of $575K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 13.1 | 127 | 8.6 | 45.4 | 51.3% |
| China | 0.3 | 334 | 48.7 | 43.4 | 425.0% |
| United States | 0.6 | 17.4 | 22.4 | 22.8 | 236.2% |
| Germany | 0.5 | 59.9 | 4.5 | 4.4 | 106.5% |
| Italy | 0.2 | 16.8 | 1.1 | 0.9 | 65.1% |
| Others | N/A | 20.4 | 0.4 | 0.2 | -90.1% |
| Total | 14.7 | 575 | 85.6 | 117 | 99.7% |
Top Suppliers of Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres to Nigeria in 2022:
- United States (143.1 tons)
- United Kingdom (92.7 tons)
- China (15.2 tons)
- Italy (6.0 tons)
- Germany (0.8 tons)
Exports of Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria
In 2022, exports of fibres; waste (including noils, yarn waste and garnetted stock), of synthetic fibreses from Nigeria skyrocketed to 103 tons, jumping by 38% compared with the previous year. Overall, total exports indicated a significant increase from 2021 to 2022: its volume increased at an average annual rate of +38.2% over the last one years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of fibres; waste (including noils, yarn waste and garnetted stock), of synthetic fibreses skyrocketed to $52K in 2022. The total export value increased at an average annual rate of +35.1% from 2021 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres in Nigeria (Thousand USD) | |||
|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 |
| India | 37.9 | 51.7 | 36.4% |
| Others | 0.4 | N/A | 0% |
| Total | 38.3 | 51.7 | 35.0% |
Top Export Markets for Fibres; Waste (Including Noils, Yarn Waste and Garnetted Stock), of Synthetic Fibres from Nigeria in 2022:
- India (102.7 tons)
Nothing found. Please try again.
Nothing found. Please try again.
Nothing found. Please try again.
