Nigeria: Computing Machinery Market 2024

Computing Machinery Market Size in Nigeria

In 2021, the Nigerien computing machinery market decreased by -7.8% to $X, falling for the second consecutive year after two years of growth. Overall, consumption continues to indicate a abrupt contraction. Computing machinery consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Computing Machinery Exports

Exports from Nigeria

In 2021, overseas shipments of computing machinery and parts and accessories thereof were finally on the rise to reach X tons after two years of decline. In general, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2016 when exports increased by 362% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, computing machinery exports expanded rapidly to $X in 2021. Over the period under review, exports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 240% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Benin (X tons) and Kenya (X tons) were the main destinations of computing machinery exports from Nigeria, together accounting for 43% of total exports.

From 2012 to 2021, the biggest increases were recorded for Kenya (with a CAGR of +163.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for computing machinery exported from Nigeria were the Netherlands ($X), Benin ($X) and the United States ($X), with a combined 49% share of total exports. The UK, India, Hong Kong SAR, Cote d'Ivoire, Germany, Kenya, Italy, South Africa, Spain and Burkina Faso lagged somewhat behind, together comprising a further 34%.

Kenya, with a CAGR of +161.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average computing machinery export price stood at $X per ton in 2021, which is down by -23.7% against the previous year. Over the period under review, the export price continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2013 an increase of 57% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Computing Machinery Imports

Imports into Nigeria

In 2021, purchases abroad of computing machinery and parts and accessories thereof decreased by -7.7% to X tons, falling for the second consecutive year after two years of growth. In general, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2018 when imports increased by 1,216%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, computing machinery imports contracted to $X in 2021. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 19% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), China (X tons) and the UK (X tons) were the main suppliers of computing machinery imports to Nigeria, together comprising 13% of total imports. These countries were followed by the Netherlands, Hong Kong SAR, the United States, the United Arab Emirates and the Czech Republic, which together accounted for a further 8.3%.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +7.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest computing machinery suppliers to Nigeria were Hong Kong SAR ($X), Germany ($X) and the United States ($X), with a combined 74% share of total imports.

Among the main suppliers, Hong Kong SAR, with a CAGR of +20.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average computing machinery import price amounted to $X per ton, rising by 2.5% against the previous year. Overall, the import price posted a buoyant expansion. The pace of growth was the most pronounced in 2014 when the average import price increased by 450% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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