Price for Rubber Thread and Cord; Textile Covered in Nigeria - 2023
Contents:
- Price for Rubber Thread and Cord; Textile Covered in Nigeria (CIF) - 2022
- Price for Rubber Thread and Cord; Textile Covered in Nigeria (FOB) - 2022
- Imports of Rubber Thread and Cord; Textile Covered in Nigeria
- Exports of Rubber Thread and Cord; Textile Covered in Nigeria
Price for Rubber Thread and Cord; Textile Covered in Nigeria (CIF) - 2022
The average import price for rubber thread and cord; textile covereds stood at $433 per ton in 2022, with a decrease of -47.1% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2014 an increase of 84%. The import price peaked at $3,470 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($911 per ton), while the price for China ($386 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.5%), while the prices for the other major suppliers experienced a decline.
Price for Rubber Thread and Cord; Textile Covered in Nigeria (FOB) - 2022
The average export price for rubber thread and cord; textile covereds stood at $656 per ton in 2022, with a decrease of -4.2% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2017 an increase of 92% against the previous year. As a result, the export price attained the peak level of $4,682 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Burkina Faso.
From 2012 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to +70.2% per year.
Imports of Rubber Thread and Cord; Textile Covered in Nigeria
In 2022, overseas purchases of rubber thread and cord; textile covereds were finally on the rise to reach 313 tons after two years of decline. Over the period under review, imports, however, recorded a deep contraction.
In value terms, imports of rubber thread and cord; textile covereds dropped to $136K in 2022. Overall, imports, however, showed a sharp decrease.
| Import of Rubber Thread and Cord; Textile Covered in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 446 | 277 | 133 | 107 | -37.9% |
| United Kingdom | N/A | 0.1 | 1.6 | 20.0 | 1314.2% |
| Kenya | N/A | 50.7 | N/A | 4.9 | -68.9% |
| United States | 47.7 | N/A | 0.3 | 1.8 | -66.5% |
| Turkey | 21.1 | N/A | N/A | N/A | 0% |
| Others | 10.5 | 15.1 | 11.2 | 1.8 | -44.4% |
| Total | 525 | 343 | 146 | 136 | -36.3% |
Top Suppliers of Rubber Thread and Cord; Textile Covered to Nigeria in 2022:
- China (277.6 tons)
- United Kingdom (22.0 tons)
- Kenya (6.0 tons)
- United States (3.7 tons)
Exports of Rubber Thread and Cord; Textile Covered in Nigeria
In 2022, exports of rubber thread and cord; textile covereds from Nigeria soared to 7.3 tons, increasing by 985% on the previous year. Over the period under review, exports, however, saw a noticeable downturn.
In value terms, exports of rubber thread and cord; textile covereds surged to $4.8K in 2022. Overall, exports, however, showed a abrupt setback.
| Export of Rubber Thread and Cord; Textile Covered in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Burkina Faso | N/A | N/A | N/A | 4.2 | 0% |
| Mali | 5.9 | N/A | N/A | N/A | 0% |
| Ghana | 1.4 | N/A | 0.3 | N/A | -53.7% |
| Others | N/A | N/A | 0.2 | 0.6 | 200.0% |
| Total | 7.3 | N/A | 0.5 | 4.8 | -13.0% |
Top Export Markets for Rubber Thread and Cord; Textile Covered from Nigeria in 2022:
- Burkina Faso (7.3 tons)
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