Price for Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria - 2023

Contents:

1. Price for Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria (CIF) - 2022
2. Price for Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria (FOB) - 2022
3. Imports of Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria
4. Exports of Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria

Price for Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria (CIF) - 2022

The average import price for ties, bow ties and cravats (not knitted or crocheted)s stood at $1 per unit in 2022, reducing by -3.3% against the previous year. Overall, the import price, however, saw a strong increase. The most prominent rate of growth was recorded in 2013 an increase of 305% against the previous year. Over the period under review, average import prices reached the maximum at $1.8 per unit in 2018; however, from 2019 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 Italy ($3.1 per unit), while the price for China ($465 per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria (FOB) - 2022

In 2022, the average export price for ties, bow ties and cravats (not knitted or crocheted)s amounted to $706 per thousand units, jumping by 861% against the previous year. Overall, the export price enjoyed pronounced growth. The export price peaked at $878 per thousand units in 2016; however, from 2017 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 the United States ($1.6 per unit), while the average price for exports to South Africa ($144 per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+5.1%), while the prices for the other major destinations experienced a decline.

Imports of Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria

In 2022, overseas purchases of ties, bow ties and cravats (not knitted or crocheted)s decreased by -76.5% to 14K units, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a precipitous decline. The growth pace was the most rapid in 2020 with an increase of 182% against the previous year. As a result, imports attained the peak of 82K units. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of ties, bow ties and cravats (not knitted or crocheted)s dropped rapidly to $14K in 2022. In general, imports recorded a sharp descent. The most prominent rate of growth was recorded in 2020 with an increase of 70% against the previous year. Imports peaked at $61K in 2021, and then fell remarkably in the following year.

Top Suppliers of Ties, Bow Ties and Cravats (Not Knitted or Crocheted) to Nigeria in 2022:

1. China (6.4K units)
2. United States (5.8K units)
3. Italy (1.1K units)

Exports of Ties, Bow Ties and Cravats (Not Knitted or Crocheted) in Nigeria

After three years of growth, overseas shipments of ties, bow ties and cravats (not knitted or crocheted)s decreased by -89.8% to 3.7K units in 2022. Over the period under review, exports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 635%. As a result, the exports attained the peak of 37K units, and then shrank rapidly in the following year.

In value terms, exports of ties, bow ties and cravats (not knitted or crocheted)s dropped to $2.6K in 2022. Overall, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +22.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 109%. As a result, the exports attained the peak of $3K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Ties, Bow Ties and Cravats (Not Knitted or Crocheted) from Nigeria in 2022:

1. Angola (1900.0 units)
2. United States (855.0 units)
3. South Africa (833.0 units)

Source: IndexBox Market Intelligence Platform