Weaving Machines (Looms) Price in Nigeria - 2022
Contents:
- Weaving Machines (Looms) Price in Nigeria (CIF) - 2022
- Weaving Machines (Looms) Price in Nigeria (FOB) - 2022
- Weaving Machines (Looms) Imports in Nigeria
- Weaving Machines (Looms) Exports in Nigeria
Weaving Machines (Looms) Price in Nigeria (CIF) - 2022
In 2022, the average weaving machines (looms) import price amounted to $32,489 per unit, increasing by 59% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, weaving machines (looms) import price increased by +63.3% against 2020 indices. The import price peaked at $38,164 per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($42,180 per unit), while the price for Germany ($6,851 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Weaving Machines (Looms) Price in Nigeria (FOB) - 2022
The average weaving machines (looms) export price stood at $7,029 per unit in 2022, picking up by 8.7% against the previous year. Over the period under review, the export price, however, recorded a perceptible slump. The growth pace was the most rapid in 2016 an increase of 50%. Over the period under review, the average export prices reached the peak figure at $11,377 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($7,539 per unit), while the average price for exports to the Netherlands totaled $135 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-4.0%).
Weaving Machines (Looms) Imports in Nigeria
In 2022, overseas purchases of weaving machines (looms)s decreased by -45.6% to 117 units, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 96%. As a result, imports attained the peak of 415 units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, weaving machines (looms) imports reduced to $3.8M in 2022. Overall, imports showed a drastic downturn. The growth pace was the most rapid in 2020 with an increase of 67% against the previous year. As a result, imports reached the peak of $8.3M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Weaving Machines (Looms) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | 387 | 296 | 315 | 2,176 | 77.8% |
| Japan | 480 | 1,541 | 622 | 970 | 26.4% |
| India | 320 | 272 | 272 | 245 | -8.5% |
| Italy | 9.6 | 20.7 | 20.6 | 165 | 158.1% |
| Germany | 456 | 58.2 | 7.6 | 82.2 | -43.5% |
| China | 1,288 | 3,747 | 1,102 | 73.1 | -61.6% |
| United Kingdom | 37.2 | 89.5 | 14.6 | N/A | -37.4% |
| Taiwan (Chinese) | 237 | 264 | 135 | N/A | -24.5% |
| Others | 1,731 | 1,966 | 1,908 | 89.9 | -62.7% |
| Total | 4,945 | 8,256 | 4,395 | 3,801 | -8.4% |
Top Suppliers of Weaving Machines (Looms) to Nigeria in 2022:
- Austria (55.0 units)
- Japan (23.0 units)
- Germany (12.0 units)
- India (8.0 units)
- Italy (7.0 units)
- China (7.0 units)
Weaving Machines (Looms) Exports in Nigeria
For the fourth year in a row, Nigeria recorded growth in shipments abroad of weaving machines (looms)s, which increased by 107% to 29 units in 2022. In general, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, weaving machines (looms) exports soared to $204K in 2022. Over the period under review, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Weaving Machines (Looms) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 40.2 | 60.2 | 90.3 | 204 | 71.8% |
| Netherlands | N/A | N/A | N/A | 0.1 | 0% |
| Benin | N/A | N/A | N/A | N/A | 0% |
| Botswana | N/A | N/A | N/A | N/A | 0% |
| Cameroon | N/A | N/A | 0.3 | N/A | 0% |
| Burkina Faso | N/A | 0.1 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 40.2 | 60.3 | 90.5 | 204 | 71.8% |
Top Export Markets for Weaving Machines (Looms) from Nigeria in 2022:
- India (27.0 units)
- Netherlands (1.0 units)
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