Nigeria: Direction Finding Compass Market 2025

Direction Finding Compass Market Size in Nigeria

The Nigerien direction finding compass market shrank dramatically to $X in 2021, which is down by -65.9% against the previous year. In general, consumption showed a precipitous descent. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Direction Finding Compass Production in Nigeria

In value terms, direction finding compass production declined to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced curtailment. The pace of growth was the most pronounced in 2016 with an increase of 41% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Direction Finding Compass Exports

Exports from Nigeria

In 2021, shipments abroad of direction finding compasses decreased by -66.8% to X units, falling for the second year in a row after five years of growth. Over the period under review, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 696%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, direction finding compass exports fell notably to $X in 2021. In general, exports continue to indicate a mild decrease. The growth pace was the most rapid in 2017 with an increase of 372% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X units) was the main destination for direction finding compass exports from Nigeria, with a 80% share of total exports. Moreover, direction finding compass exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X units), eightfold.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands amounted to +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+16.7% per year) and the UK (-3.8% per year).

In value terms, the Netherlands ($X) remains the key foreign market for direction finding compasses exports from Nigeria, comprising 81% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the Netherlands stood at +48.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+82.6% per year) and the UK (-26.1% per year).

Export Prices by Country

The average direction finding compass export price stood at $X per unit in 2021, which is down by -11.5% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The pace of growth was the most pronounced in 2016 when the average export price increased by 71%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+55.4%), while the prices for the other major destinations experienced mixed trend patterns.

Direction Finding Compass Imports

Imports into Nigeria

In 2021, approx. X units of direction finding compasses were imported into Nigeria; which is down by -75.7% against the previous year. In general, imports recorded a precipitous decline. The growth pace was the most rapid in 2019 when imports increased by 254%. Imports peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, direction finding compass imports reduced remarkably to $X in 2021. Overall, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 244% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X units) was the main direction finding compass supplier to Nigeria, with a 99% share of total imports. It was followed by China (X units), with a 0.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Africa amounted to -10.2%.

In value terms, the UK ($X) constituted the largest supplier of direction finding compasses to Nigeria, comprising 13% of total imports. The second position in the ranking was taken by China ($X), with a 0.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.4% per year) and South Africa (+9.2% per year).

Import Prices by Country

In 2021, the average direction finding compass import price amounted to $X per unit, with an increase of 165% against the previous year. In general, the import price recorded a significant expansion. The pace of growth was the most pronounced in 2018 an increase of 289%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average 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 the UK ($X per unit), while the price for South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+158.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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