Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria - 2024
Contents:
- Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria (CIF) - 2022
- Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria (FOB) - 2022
- Imports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria
- Exports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria
Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria (CIF) - 2022
The average import price for t-shirts, singlets and other vests; of cotton, knitted or crocheted stood at $7 per unit in 2022, rising by 28% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for t-shirts, singlets and other vests; of cotton, knitted or crocheted increased by +62.0% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Africa ($7 per unit) and Turkey ($7 per unit), while the price for Italy ($7 per unit) and the UK ($7 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria (FOB) - 2022
The average export price for t-shirts, singlets and other vests; of cotton, knitted or crocheted stood at $6.1 per unit in 2022, increasing by 8.2% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for t-shirts, singlets and other vests; of cotton, knitted or crocheted decreased by -2.3% against 2020 indices. The growth pace was the most rapid in 2020 an increase of 63% against the previous year. As a result, the export price reached the peak level of $6.2 per unit. From 2021 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($15 per unit), while the average price for exports to Kenya ($545 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 (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria
In 2022, the amount of t-shirts, singlets and other vests; of cotton, knitted or crocheted imported into Nigeria reduced rapidly to 432K units, waning by -97% compared with the previous year. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 4,146% against the previous year. As a result, imports reached the peak of 15M units, and then declined markedly in the following year.
In value terms, imports of t-shirts, singlets and other vests; of cotton, knitted or crocheted fell notably to $3M in 2022. In general, imports, however, recorded moderate growth. The most prominent rate of growth was recorded in 2021 when imports increased by 4,473% against the previous year. As a result, imports attained the peak of $80M, and then declined sharply in the following year.
| Import of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.7 | 0.3 | 78.7 | 1.4 | 26.0% |
| Indonesia | 0.2 | N/A | 0.2 | 0.3 | 14.5% |
| India | 0.2 | 0.1 | 0.1 | 0.3 | 14.5% |
| Italy | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Turkey | N/A | N/A | N/A | 0.1 | 0% |
| United States | 0.3 | 0.2 | 0.1 | 0.1 | -30.7% |
| Bangladesh | N/A | N/A | 0.3 | 0.1 | -66.7% |
| Portugal | N/A | N/A | N/A | 0.1 | 0% |
| South Africa | 0.3 | 0.1 | 0.1 | 0.1 | -30.7% |
| United Kingdom | 0.2 | 0.4 | 0.1 | 0.1 | -20.6% |
| Others | 0.6 | 0.4 | 0.3 | 0.3 | -20.6% |
| Total | 2.6 | 1.8 | 80.2 | 3.0 | 4.9% |
Top Suppliers of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted to Nigeria in 2022:
- China (200.6K units)
- India (48.9K units)
- Indonesia (38.4K units)
- Italy (25.3K units)
- United States (19.9K units)
- United Kingdom (16.0K units)
- Portugal (11.4K units)
- South Africa (10.8K units)
- Bangladesh (9.8K units)
- Turkey (8.4K units)
Exports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria
In 2022, shipments abroad of t-shirts, singlets and other vests; of cotton, knitted or crocheted decreased by -24.7% to 35K units, falling for the second consecutive year after two years of growth. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 303%. As a result, the exports attained the peak of 74K units. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of t-shirts, singlets and other vests; of cotton, knitted or crocheted fell rapidly to $211K in 2022. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 559%. As a result, the exports reached the peak of $461K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 4.8 | 17.7 | 19.9 | 38.1 | 99.5% |
| Germany | 13.6 | 13.1 | 31.9 | 19.5 | 12.8% |
| Austria | 0.2 | 1.4 | 1.9 | 17.7 | 345.6% |
| United States | 8.2 | 4.8 | 4.3 | 15.0 | 22.3% |
| Cyprus | N/A | N/A | 1.0 | 13.1 | 1210.0% |
| Canada | 4.1 | 2.7 | 4.7 | 10.0 | 34.6% |
| United Kingdom | N/A | 22.8 | N/A | 9.8 | -34.4% |
| Brazil | N/A | 0.4 | 0.8 | 9.1 | 377.0% |
| South Africa | 5.6 | 6.3 | 6.2 | 8.6 | 15.4% |
| Niger | N/A | 33.3 | 80.6 | 7.6 | -52.2% |
| Kenya | 1.6 | 1.7 | 4.7 | 5.4 | 50.0% |
| Netherlands | 0.3 | 1.0 | 7.6 | 5.2 | 158.8% |
| Angola | 0.9 | 0.3 | 0.3 | 5.2 | 79.4% |
| Others | 30.7 | 355 | 94.7 | 46.6 | 14.9% |
| Total | 70.0 | 461 | 259 | 211 | 44.5% |
Top Export Markets for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted from Nigeria in 2022:
- Kenya (9.9K units)
- Benin (5.0K units)
- Austria (2.3K units)
- Germany (2.0K units)
- Brazil (1.7K units)
- South Africa (1.7K units)
- Cyprus (1.7K units)
- United States (1.3K units)
- Canada (1.2K units)
- Niger (1.2K units)
- Netherlands (1.0K units)
- Angola (0.7K units)
- United Kingdom (0.7K units)
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