Price for Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria - 2022
Contents:
- Price for Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria (CIF) - 2022
- Price for Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria (FOB) - 2022
- Imports of Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria
- Exports of Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria
Price for Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria (CIF) - 2022
In 2022, the average import price for tools; for working in the hand, pneumatic, rotary type (including combined rotary-percussion) amounted to $220 per unit, rising by 75% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $298 per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
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 South Africa ($495 per unit), while the price for China ($75 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria (FOB) - 2022
The average export price for tools; for working in the hand, pneumatic, rotary type (including combined rotary-percussion) stood at $518 per unit in 2022, growing by 338% against the previous year. Over the period under review, the export price posted a buoyant expansion. The pace of growth was the most pronounced in 2016 an increase of 1,605%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($630 per unit), while the average price for exports to Ghana ($13 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria
In 2022, after three years of growth, there was significant decline in purchases abroad of tools; for working in the hand, pneumatic, rotary type (including combined rotary-percussion), when their volume decreased by -76.9% to 3.3K units. In general, imports recorded a sharp descent. The pace of growth was the most pronounced in 2021 with an increase of 78%. As a result, imports attained the peak of 14K units, and then contracted rapidly in the following year.
In value terms, imports of tools; for working in the hand, pneumatic, rotary type (including combined rotary-percussion) declined notably to $725K in 2022. Overall, imports, however, posted a tangible increase. The pace of growth appeared the most rapid in 2021 with an increase of 87%. As a result, imports reached the peak of $1.8M, and then shrank dramatically in the following year.
| Import of Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 19.0 | 23.6 | 5.6 | 180 | 111.6% |
| South Korea | 7.7 | 4.6 | 2.4 | 106 | 139.7% |
| Netherlands | 2.5 | 5.9 | 2.8 | 74.5 | 210.0% |
| China | 487 | 670 | 1,628 | 70.1 | -47.6% |
| United States | 14.3 | 6.9 | 18.9 | 52.6 | 54.4% |
| South Africa | 1.6 | 0.6 | 3.9 | 48.0 | 210.7% |
| Switzerland | 20.2 | 21.8 | 29.9 | 32.2 | 16.8% |
| Others | 105 | 224 | 97.9 | 161 | 15.3% |
| Total | 657 | 957 | 1,789 | 725 | 3.3% |
Top Suppliers of Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) to Nigeria in 2022:
- China (935.0 units)
- India (743.0 units)
- United States (687.0 units)
- South Korea (248.0 units)
- Netherlands (174.0 units)
- South Africa (97.0 units)
- Switzerland (75.0 units)
Exports of Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria
In 2022, the amount of tools; for working in the hand, pneumatic, rotary type (including combined rotary-percussion) exported from Nigeria soared to 34 units, rising by 325% compared with 2021 figures. Overall, exports saw 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 tools; for working in the hand, pneumatic, rotary type (including combined rotary-percussion) soared to $18K in 2022. Over the period under review, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 0.1 | N/A | 0.6 | 11.3 | 383.5% |
| Norway | 0.1 | N/A | 0.3 | 5.0 | 268.4% |
| France | N/A | N/A | 0.1 | 1.2 | 1100.0% |
| Cote d'Ivoire | N/A | N/A | N/A | N/A | 0% |
| Ireland | N/A | N/A | N/A | N/A | 0% |
| India | N/A | N/A | N/A | N/A | 0% |
| Ghana | N/A | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 0.2 | N/A | 0.9 | 17.6 | 344.8% |
Top Export Markets for Tools; for Working in the Hand, Pneumatic, Rotary Type (Including Combined Rotary-Percussion) from Nigeria in 2022:
- Germany (19.0 units)
- Norway (8.0 units)
- France (2.0 units)
- Ghana (1.0 units)
- India (1.0 units)
- Ireland (1.0 units)
- Cote d'Ivoire (1.0 units)
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