Report Update Nov 1, 2024

Nigeria - Articles of Goldsmiths’ or Silversmiths’ Wares of Silver - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Silversmiths Ware Market 2022

Silversmiths Ware Exports

Exports from Nigeria

In 2021, overseas shipments of articles of goldsmiths’ or silversmiths’ wares of silver decreased by -X% to less than X kg for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a significant increase. The exports peaked at X kg in 2020, and then declined markedly in the following year.

In value terms, silversmiths ware exports reduced rapidly to $less than X in 2021. Overall, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% y-o-y. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Togo (X kg) was the main destination for silversmiths ware exports from Nigeria, with a approx. X% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to Togo was relatively modest.

From 2012 to 2020, the average annual growth rate of value to Togo was relatively modest.

Export Prices by Country

In 2020, the average silversmiths ware export price amounted to $X per kg, remaining stable against the previous year. In general, the export price saw a deep slump. As a result, the export price attained the peak level of $X per kg. From 2014 to 2020, the the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Togo.

From 2012 to 2020, the rate of growth in terms of prices for Togo amounted to X% per year.

Silversmiths Ware Imports

Imports into Nigeria

After three years of growth, purchases abroad of articles of goldsmiths’ or silversmiths’ wares of silver decreased by -X% to X kg in 2021. Overall, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% year-to-year. As a result, imports reached the peak of X kg. From 2014 to 2021, the growth imports remained at a lower figure.

In value terms, silversmiths ware imports soared to $X in 2021. Over the period under review, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth imports remained at a lower figure.

Imports by Country

In 2021, the UK (X kg) constituted the largest silversmiths ware supplier to Nigeria, with a X% share of total imports. Moreover, silversmiths ware imports from the UK exceeded the figures recorded by the second-largest supplier, Turkey (X kg), threefold. The third position in this ranking was occupied by Italy (X kg), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Italy (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of silversmiths ware to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by the UK ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Turkey amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and Italy (+X% per year).

Import Prices by Country

The average silversmiths ware import price stood at $X per kg in 2021, growing by X% against the previous year. In general, the import price posted a pronounced expansion. The growth pace was the most rapid in 2017 an increase of X% y-o-y. Over the period under review, average import prices attained the peak figure at $X per kg in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Turkey ($X per kg), while the price for the UK ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for articles of goldsmiths’ or silversmiths’ wares of silver in the world?

Italy remains the largest silversmiths ware consuming country worldwide, accounting for 32% of total volume. Moreover, silversmiths ware consumption in Italy exceeded the figures recorded by the second-largest consumer, China, twofold. The United States ranked third in terms of total consumption with a 5.3% share.

What are the largest producers of articles of goldsmiths’ or silversmiths’ wares of silver in the world?

The country with the largest volume of silversmiths ware production was Italy, comprising approx. 35% of total volume. Moreover, silversmiths ware production in Italy exceeded the figures recorded by the second-largest producer, China, twofold. India ranked third in terms of total production with a 5.8% share.

What are the leading suppliers of articles of goldsmiths’ or silversmiths’ wares of silver to Nigeria?

In value terms, Turkey $820) constituted the largest supplier of silversmiths ware to Nigeria, comprising 7.3% of total imports. The second position in the ranking was occupied by the UK $287), with a 2.5% share of total imports. It was followed by Italy, with a 2.2% share.

What is the average export price for articles of goldsmiths’ or silversmiths’ wares of silver in Nigeria?

In 2020, the average silversmiths ware export price amounted to $345 per kg, remaining constant against the previous year.

What is the average import price for articles of goldsmiths’ or silversmiths’ wares of silver in Nigeria?

In 2021, the average silversmiths ware import price amounted to $1,765 per kg, increasing by 63% against the previous year.

This report provides an in-depth analysis of the silversmiths ware market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.

Product coverage:

Prodcom 32121351 - Articles of goldsmiths

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023