Price for Wood; Statuettes and Other Ornaments of Wood in Nigeria - 2022
Contents:
- Price for Wood; Statuettes and Other Ornaments of Wood in Nigeria (CIF) - 2022
- Price for Wood; Statuettes and Other Ornaments of Wood in Nigeria (FOB) - 2022
- Imports of Wood; Statuettes and Other Ornaments of Wood in Nigeria
- Exports of Wood; Statuettes and Other Ornaments of Wood in Nigeria
Price for Wood; Statuettes and Other Ornaments of Wood in Nigeria (CIF) - 2022
In 2022, the average import price for wood; statuettes and other ornaments of wood amounted to $4,116 per ton, dropping by -3.3% against the previous year. In general, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 34% against the previous year. As a result, import price reached the peak level of $6,928 per ton. From 2014 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($38,597 per ton), while the price for China ($2,985 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+24.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wood; Statuettes and Other Ornaments of Wood in Nigeria (FOB) - 2022
In 2022, the average export price for wood; statuettes and other ornaments of wood amounted to $15,860 per ton, surging by 360% against the previous year. In general, the export price enjoyed strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Ukraine.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +50.5% per year.
Imports of Wood; Statuettes and Other Ornaments of Wood in Nigeria
In 2022, approx. 30 tons of wood; statuettes and other ornaments of wood were imported into Nigeria; increasing by 5.4% against the year before. Overall, imports, however, continue to indicate a precipitous decrease. The growth pace was the most rapid in 2021 when imports increased by 24% against the previous year.
In value terms, imports of wood; statuettes and other ornaments of wood expanded to $125K in 2022. Over the period under review, imports, however, continue to indicate a sharp contraction. The pace of growth was the most pronounced in 2021 when imports increased by 42%.
| Import of Wood; Statuettes and Other Ornaments of Wood in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 144 | 65.7 | 99.9 | 83.5 | -16.6% |
| Italy | 96.9 | 4.5 | 16.5 | 31.8 | -31.0% |
| Turkey | 7.5 | 4.8 | 1.8 | 3.8 | -20.3% |
| Philippines | 37.5 | N/A | N/A | N/A | 0% |
| Others | 36.9 | 11.4 | 4.1 | 5.6 | -46.7% |
| Total | 323 | 86.4 | 122 | 125 | -27.1% |
Top Suppliers of Wood; Statuettes and Other Ornaments of Wood to Nigeria in 2022:
- China (28.0 tons)
- Italy (0.8 tons)
- Turkey (0.7 tons)
Exports of Wood; Statuettes and Other Ornaments of Wood in Nigeria
For the third consecutive year, Nigeria recorded decline in overseas shipments of wood; statuettes and other ornaments of wood, which decreased by -92.9% to 50 kg in 2022. Overall, exports recorded a dramatic setback. The smallest decline of -59% was in 2020.
In value terms, exports of wood; statuettes and other ornaments of wood shrank sharply to $793 in 2022. Over the period under review, exports faced a precipitous decline.
| Export of Wood; Statuettes and Other Ornaments of Wood in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ukraine | N/A | N/A | N/A | 0.8 | 0% |
| Benin | 0.1 | 0.3 | 0.2 | N/A | 41.4% |
| Spain | 3.0 | 1.4 | 0.1 | N/A | -81.7% |
| Japan | 21.9 | N/A | N/A | N/A | 0% |
| United States | 38.1 | N/A | 0.7 | N/A | -86.4% |
| United Arab Emirates | 4.2 | N/A | N/A | N/A | 0% |
| Singapore | 15.1 | N/A | N/A | N/A | 0% |
| Brazil | 5.4 | 14.7 | 0.2 | N/A | -80.8% |
| Others | 11.4 | 5.7 | 1.2 | N/A | -67.6% |
| Total | 99.2 | 22.0 | 2.4 | 0.8 | -79.9% |
Top Export Markets for Wood; Statuettes and Other Ornaments of Wood from Nigeria in 2022:
- Ukraine (50.0 kg)
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