Nigeria: Colloidal Precious Metals Market 2025

Colloidal Precious Metals Market Size in Nigeria

The Nigerien colloidal precious metals market rose modestly to $X in 2022, growing by X% against the previous year. Over the period under review, consumption posted a prominent expansion. Colloidal precious metals consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Colloidal Precious Metals Production in Nigeria

In value terms, colloidal precious metals production stood at $X in 2022 estimated in export price. Overall, production continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Colloidal precious metals production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Colloidal Precious Metals Exports

Exports from Nigeria

In 2021, after two years of decline, there was decline in shipments abroad of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), when their volume decreased by X% to X kg. Over the period under review, exports faced a drastic downturn. The smallest decline of X% was in 2013. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, colloidal precious metals exports stood at $X in 2021. In general, exports recorded a deep downturn. The smallest decline of X% was in 2013. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for colloidal precious metals exports from Nigeria, with a approx. X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cote d'Ivoire was relatively modest.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire was relatively modest.

Export Prices by Country

In 2021, the average colloidal precious metals export price amounted to $X per ton, approximately mirroring the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for the UK amounted to X% per year.

Colloidal Precious Metals Imports

Imports into Nigeria

In 2022, the amount of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) imported into Nigeria reduced notably to X kg, shrinking by X% on the previous year. Overall, imports saw a sharp descent. The pace of growth appeared the most rapid in 2020 with an increase of X%. Imports peaked at X kg in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, colloidal precious metals imports skyrocketed to $X in 2022. Over the period under review, imports showed a abrupt setback. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Spain (X kg), Germany (X kg) and the UK (X kg) were the main suppliers of colloidal precious metals imports to Nigeria.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and the UK (X% per year).

Import Prices by Country

The average colloidal precious metals import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price saw a buoyant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X,500 per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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