Price for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in Nigeria - 2023

Contents:

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

Price for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in Nigeria (CIF) - 2022

The average import price for ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s stood at $3.3 per unit in 2022, reducing by -41.1% against the previous year. Overall, the import price, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2013 an increase of 8,224% against the previous year. The import price peaked at $5.5 per unit in 2021, and then declined dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($5.7 per unit), while the price for the United States stood at $2.7 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+203.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in Nigeria (FOB) - 2022

The average export price for ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s stood at $16 per unit in 2021, surging by 11% against the previous year. In general, the export price enjoyed a significant expansion. The growth pace was the most rapid in 2018 when the average export price increased by 2,253% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($32 per unit), while the average price for exports to Turkey ($1.7 per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+61.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in Nigeria

In 2022, approx. 1.3K units of ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s were imported into Nigeria; picking up by 80% on 2021. Over the period under review, imports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 94%. Over the period under review, imports of reached the maximum at 2K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s rose markedly to $4.3K in 2022. Overall, imports, however, continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2021 with an increase of 142%. Over the period under review, imports of attained the maximum at $4.6K in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Top Suppliers of Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) to Nigeria in 2022:

1. United States (1095.0 units)
2. China (226.0 units)

Exports of Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) in Nigeria

In 2021, approx. 25 units of ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s were exported from Nigeria; dropping by -3.8% compared with 2020 figures. Overall, exports showed a abrupt slump. Over the period under review, the exports of attained the peak figure at 28 units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of ties, bow ties and cravats; of man-made fibres (not knitted or crocheted)s amounted to $400 in 2021. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 774%. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in years to come.

Top Export Markets for Ties, Bow Ties and Cravats; of Man-Made Fibres (Not Knitted or Crocheted) from Nigeria in 2022:

1. Turkey (12.0 units)
2. Cote d'Ivoire (12.0 units)
3. Canada (1.0 units)

Source: IndexBox Market Intelligence Platform