Price for Watch Cases and Parts Thereof in Nigeria - 2022
Contents:
- Price for Watch Cases and Parts Thereof in Nigeria (CIF) - 2022
- Price for Watch Cases and Parts Thereof in Nigeria (FOB) - 2022
- Imports of Watch Cases and Parts Thereof in Nigeria
- Exports of Watch Cases and Parts Thereof in Nigeria
Price for Watch Cases and Parts Thereof in Nigeria (CIF) - 2022
The average import price for watch cases and parts thereoves stood at $34 per unit in 2022, growing by 76% against the previous year. Overall, the import price, however, saw a abrupt slump. Over the period under review, average import prices hit record highs at $62 per unit in 2012; however, from 2013 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 the United Arab Emirates ($97 per unit), while the price for China ($11 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+28.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Watch Cases and Parts Thereof in Nigeria (FOB) - 2022
The average export price for watch cases and parts thereoves stood at $65 per unit in 2022, therefore, remained relatively stable against the previous year. Overall, the export price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 189% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($76 per unit), while the average price for exports to South Africa totaled $20 per unit.
From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (0.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Watch Cases and Parts Thereof in Nigeria
In 2022, watch cases and parts thereof imports into Nigeria surged to 469 units, picking up by 247% against the previous year's figure. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 452%. As a result, imports reached the peak of 1.1K units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, watch cases and parts thereof imports soared to $16K in 2022. In general, imports posted a significant expansion. Over the period under review, imports hit record highs at $30K in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.
| Import of Watch Cases and Parts Thereof in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | N/A | 1.5 | 0.3 | 4.3 | 69.3% |
| China | 5.6 | 22.4 | 1.4 | 2.9 | -19.7% |
| Switzerland | 0.3 | 0.9 | 0.3 | 1.7 | 78.3% |
| United States | 0.8 | 1.2 | 0.1 | 0.9 | 4.0% |
| United Arab Emirates | 0.2 | 2.6 | 0.2 | 0.7 | 51.8% |
| South Africa | N/A | 0.2 | N/A | 0.4 | 41.4% |
| Hong Kong SAR | 0.1 | 0.4 | N/A | 0.2 | 26.0% |
| Others | 0.5 | 0.6 | 0.4 | 4.9 | 114.0% |
| Total | 7.5 | 29.7 | 2.6 | 16.2 | 29.3% |
Top Suppliers of Watch Cases and Parts Thereof to Nigeria in 2022:
- China (270.0 units)
- Sweden (79.0 units)
- United States (43.0 units)
- Switzerland (31.0 units)
- South Africa (20.0 units)
- Hong Kong SAR (10.0 units)
- United Arab Emirates (8.0 units)
Exports of Watch Cases and Parts Thereof in Nigeria
In 2022, overseas shipments of watch cases and parts thereoves decreased by 0% to 2.1K units, falling for the second year in a row after two years of growth. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 284,400%. As a result, the exports reached the peak of 2.8K units. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, watch cases and parts thereof exports totaled $136K in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 820,823% against the previous year. As a result, the exports reached the peak of $181K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Watch Cases and Parts Thereof in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | N/A | N/A | N/A | 64.1 | 0% |
| South Africa | N/A | N/A | N/A | 7.4 | 0% |
| Cote d'Ivoire | N/A | 0.1 | N/A | N/A | 0% |
| Germany | N/A | 90.3 | N/A | N/A | 0% |
| Others | N/A | 90.1 | N/A | 64.1 | -15.7% |
| Total | N/A | 181 | N/A | 136 | -13.3% |
Top Export Markets for Watch Cases and Parts Thereof from Nigeria in 2022:
- Ireland (848.0 units)
- South Africa (377.0 units)
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