Nigeria: Electronic Chip Market 2025

Electronic Chip Market Size in Nigeria

The Nigerien electronic chip market was estimated at $X in 2021, surging by 13% against the previous year. Over the period under review, consumption recorded buoyant growth. Electronic chip consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Electronic Chip Production in Nigeria

In value terms, electronic chip production soared to $X in 2021 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 72%. Electronic chip production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Electronic Chip Exports

Exports from Nigeria

In 2021, the amount of electronic chips exported from Nigeria skyrocketed to X units, growing by 75% against the year before. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2018 when exports increased by 685%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, electronic chip exports contracted sharply to $X in 2021. In general, exports, however, continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 375%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X units) was the main destination for electronic chip exports from Nigeria, with a 68% share of total exports. Moreover, electronic chip exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Norway (X units), more than tenfold. The third position in this ranking was taken by Kenya (X units), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cote d'Ivoire amounted to +100.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (0.0% per year) and Kenya (+59.7% per year).

In value terms, the largest markets for electronic chip exported from Nigeria were Cote d'Ivoire ($X), Kenya ($X) and Norway ($X), together accounting for 48% of total exports.

Kenya, with a CAGR of +40.8%, recorded the highest growth rate of the value of exports, among 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 electronic chip export price stood at $X per thousand units in 2021, shrinking by -56.4% against the previous year. Overall, the export price faced a precipitous contraction. The growth pace was the most rapid in 2013 a decrease of -0.6% against the previous year. The export price peaked at $X per thousand units in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 the Netherlands ($X per thousand units), while the average price for exports to Cote d'Ivoire ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-2.1%), while the prices for the other major destinations experienced a decline.

Electronic Chip Imports

Imports into Nigeria

In 2021, purchases abroad of electronic chips increased by 21% to X units, rising for the fifth year in a row after three years of decline. Over the period under review, imports enjoyed a significant increase. The growth pace was the most rapid in 2018 when imports increased by 204% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, electronic chip imports shrank rapidly to $X in 2021. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 145% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then fell significantly in the following year.

Imports by Country

In 2021, China (X units) constituted the largest electronic chip supplier to Nigeria, with a 78% share of total imports. Moreover, electronic chip imports from China exceeded the figures recorded by the second-largest supplier, Niger (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +63.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Niger (+193.1% per year) and Germany (+39.9% per year).

In value terms, China ($X) constituted the largest supplier of electronic chips to Nigeria, comprising 35% of total imports. The second position in the ranking was held by the UK ($X), with a 2.9% share of total imports. It was followed by Germany, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +74.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+35.0% per year) and Germany (+58.5% per year).

Import Prices by Country

The average electronic chip import price stood at $X per unit in 2021, with a decrease of -41.8% against the previous year. Overall, the import price showed a mild slump. The most prominent rate of growth was recorded in 2014 when the average import price increased by 180%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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 Niger (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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