Price for Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria - 2023
Contents:
- Price for Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria (CIF) - 2022
- Price for Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria (FOB) - 2022
- Imports of Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria
- Exports of Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria
Price for Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria (CIF) - 2022
In 2022, the average import price for wadding; other articles thereof, other than of cotton or man-made fibreses amounted to $586 per ton, with a decrease of -7.3% against the previous year. Over the period under review, the import price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2014 an increase of 193%. The import price peaked at $5,968 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($573 per ton), while the price for the United States stood at $508 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-8.0%), while the prices for the other major suppliers experienced a decline.
Price for Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria (FOB) - 2022
In 2022, the average export price for wadding; other articles thereof, other than of cotton or man-made fibreses amounted to $1,512 per ton, declining by -51.7% against the previous year. In general, the export price, however, showed perceptible growth. The pace of growth appeared the most rapid in 2021 an increase of 378%. As a result, the export price attained the peak level of $3,129 per ton, and then fell notably in the following year.
As there is only one major export destination, the average price level is determined by prices for Benin.
From 2013 to 2022, the rate of growth in terms of prices for Benin amounted to +4.3% per year.
Imports of Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria
In 2022, imports of wadding; other articles thereof, other than of cotton or man-made fibreses into Nigeria fell markedly to 72 tons, with a decrease of -78.8% compared with the year before. Overall, imports showed a dramatic downturn. The pace of growth was the most pronounced in 2021 when imports increased by 42%.
In value terms, imports of wadding; other articles thereof, other than of cotton or man-made fibreses shrank markedly to $42K in 2022. In general, imports recorded a sharp decrease. The smallest decline of -12.8% was in 2021.
| Import of Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 302 | 246 | 212 | 35.3 | -51.1% |
| United States | 19.3 | 1.7 | N/A | 5.3 | -35.0% |
| Japan | 56.2 | N/A | N/A | N/A | 0% |
| Others | 4.0 | N/A | 4.0 | 1.7 | -24.8% |
| Total | 382 | 248 | 216 | 42.3 | -52.0% |
Top Suppliers of Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres to Nigeria in 2022:
- China (61.6 tons)
- United States (10.4 tons)
Exports of Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria
After two years of decline, overseas shipments of wadding; other articles thereof, other than of cotton or man-made fibreses increased by 32% to 3.4 tons in 2022. Overall, exports, however, recorded a dramatic setback.
In value terms, exports of wadding; other articles thereof, other than of cotton or man-made fibreses fell dramatically to $5.2K in 2022. In general, exports, however, showed a sharp curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 330% against the previous year.
| Export of Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 11.9 | 1.7 | 1.4 | 5.1 | -24.6% |
| South Africa | N/A | N/A | 0.5 | N/A | 0% |
| Niger | 3.8 | 0.2 | N/A | N/A | -94.7% |
| Others | N/A | N/A | 6.2 | 0.1 | -98.4% |
| Total | 15.7 | 1.9 | 8.2 | 5.2 | -30.8% |
Top Export Markets for Wadding; Other Articles Thereof, Other than of Cotton or Man-Made Fibres from Nigeria in 2022:
- Benin (3.4 tons)
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