Nigeria: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Nigeria

In 2022, the Nigerien metal office furniture market decreased by -26.9% to $X, falling for the second consecutive year after five years of growth. Overall, consumption, however, recorded significant growth. Metal office furniture consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Metal Office Furniture Exports

Exports from Nigeria

After two years of growth, overseas shipments of metal office furniture decreased by -47.9% to X tons in 2022. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 1,253% against the previous year. As a result, the exports attained the peak of X tons, and then contracted notably in the following year.

In value terms, metal office furniture exports plummeted to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 994% against the previous year. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Ethiopia (X tons) was the main destination for metal office furniture exports from Nigeria, accounting for a 69% share of total exports. Moreover, metal office furniture exports to Ethiopia exceeded the volume sent to the second major destination, Benin (X tons), fourfold. The third position in this ranking was held by Niger (X kg), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to Ethiopia stood at +102.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+78.4% per year) and Niger (+68.1% per year).

In value terms, Ethiopia ($X) remains the key foreign market for metal office furniture exports from Nigeria, comprising 71% of total exports. The second position in the ranking was taken by Benin ($X), with an 11% share of total exports. It was followed by Niger, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ethiopia totaled +95.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+88.1% per year) and Niger (+92.6% per year).

Export Prices by Country

In 2022, the average metal office furniture export price amounted to $X per ton, surging by 4.8% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible contraction. The growth pace was the most rapid in 2019 an increase of 36% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into Nigeria

In 2022, supplies from abroad of metal office furniture decreased by -37.2% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 1,699%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, metal office furniture imports contracted to $X in 2022. In general, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by 1,610% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal office furniture to Nigeria, with a 59% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +77.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+53.9% per year) and Spain (+42.2% per year).

In value terms, the largest metal office furniture suppliers to Nigeria were China ($X), India ($X) and Spain ($X), together accounting for 56% of total imports. The UK, Italy, Sweden and Egypt lagged somewhat behind, together comprising a further 6.8%.

Sweden, with a CAGR of +82.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal office furniture import price amounted to $X per ton, rising by 42% against the previous year. Overall, the import price, however, showed a pronounced setback. The growth pace was the most rapid in 2016 when the average import price increased by 50%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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