Nigeria: Market for Instrument Panel And Wall Clocks 2022

Market Size for Instrument Panel And Wall Clocks in Nigeria

The Nigerien market for instrument panel and wall clocks stood at $X in 2020, remaining relatively unchanged against the previous year. Over the period under review, consumption enjoyed buoyant growth. The pace of growth was the most pronounced in 2010 when the market value increased by X% y-o-y. Instrument panel and wall clock consumption peaked at $X in 2014; however, from 2015 to 2020, consumption failed to regain the momentum.

Production of Instrument Panel And Wall Clocks in Nigeria

In value terms, instrument panel and wall clock production contracted to $X in 2020 estimated in export prices. In general, production, however, saw a slight contraction. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. As a result, production attained the peak level of $X. from 2010 to 2020, production growth remained at a lower figure.

Exports of Instrument Panel And Wall Clocks

Exports from Nigeria

In 2020, shipments abroad of instrument panel and wall clocks increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports enjoyed a measured expansion. As a result, exports attained the peak and are likely to continue growth in the immediate term.

In value terms, instrument panel and wall clock exports surged to $X in 2020. Overall, exports recorded a noticeable decline. Exports peaked at $X in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

Exports by Country

France (X tons) was the main destination for instrument panel and wall clock exports from Nigeria, with a X% share of total exports. Moreover, instrument panel and wall clock exports to France exceeded the volume sent to the second major destination, Benin (X tons), fivefold. The third position in this ranking was occupied by Niger (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to France totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (-X% per year) and Niger (-X% per year).

In value terms, France ($X) emerged as the key foreign market for instrument panel and wall clock exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by Benin ($X), with a X% share of total exports. It was followed by Niger, with a X% share.

From 2007 to 2020, the average annual growth rate of value to France stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (-X% per year) and Niger (-X% per year).

Export Prices by Country

In 2020, the average export price for instrument panel and wall clocks amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2012 when the average export price increased by X% year-to-year. As a result, export price attained the peak level of $X per ton. from 2013 to 2020, the growth in terms of the average export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was France ($X per ton), while the average price for exports to Gambia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Gambia, while the prices for the other major destinations experienced a decline.

Imports of Instrument Panel And Wall Clocks

Imports into Nigeria

For the fifth consecutive year, Nigeria recorded growth in overseas purchases of instrument panel and wall clocks, which increased by X% to X tons in 2020. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2020, imports remained at a lower figure.

In value terms, instrument panel and wall clock imports dropped to $X in 2020. Overall, imports saw a pronounced setback. The most prominent rate of growth was recorded in 2016 when imports increased by X% year-to-year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, China (X tons) was the main supplier of instrument panel and wall clock to Nigeria, accounting for a X% share of total imports. Moreover, instrument panel and wall clock imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and Turkey (+X% per year).

In value terms, China ($X) constituted the largest supplier of instrument panel and wall clock to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of value from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and Turkey (+X% per year).

Import Prices by Country

The average import price for instrument panel and wall clocks stood at $X per ton in 2020, reducing by -X% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2007; however, from 2008 to 2020, import prices remained at a lower figure.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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