Nigeria: Market for Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases 2024

Market Size for Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases in Nigeria

In 2021, the Nigerien market for non-electronic instruments for measuring or checking variables of liquids or gases decreased by -77.7% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, posted buoyant growth. Over the period under review, the market reached the peak level at $X in 2020, and then declined markedly in the following year.

Exports of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases

Exports from Nigeria

In 2021, the amount of non-electronic instruments for measuring or checking variables of liquids or gases exported from Nigeria contracted rapidly to X units, declining by -80.3% compared with 2020 figures. Over the period under review, exports recorded a precipitous setback. The most prominent rate of growth was recorded in 2018 when exports increased by 1,093%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, non-electronic liquid or gas measurer exports fell markedly to $X in 2021. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2020 when exports increased by 612% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

France (X units) was the main destination for non-electronic liquid or gas measurer exports from Nigeria, with a 66% share of total exports. Moreover, non-electronic liquid or gas measurer exports to France exceeded the volume sent to the second major destination, the UK (X units), fourfold. The third position in this ranking was taken by Cote d'Ivoire (X units), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-32.5% per year) and Cote d'Ivoire (-26.2% per year).

In value terms, France ($X) emerged as the key foreign market for non-electronic liquid or gas measurer exports from Nigeria, comprising 56% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 14% share of total exports. It was followed by the UK, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France amounted to +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (-22.9% per year) and the UK (-29.3% per year).

Export Prices by Country

In 2021, the average export price for non-electronic instruments for measuring or checking variables of liquids or gases amounted to $X per unit, with a decrease of -27.4% against the previous year. Overall, the export price, however, posted prominent growth. The growth pace was the most rapid in 2020 when the average export price increased by 78% against the previous year. As a result, the export price attained the peak level of $X per unit, and then declined rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Austria ($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 Denmark (+65.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases

Imports into Nigeria

In 2021, overseas purchases of non-electronic instruments for measuring or checking variables of liquids or gases decreased by -78% to X units for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,166% against the previous year. Imports peaked at X units in 2020, and then fell rapidly in the following year.

In value terms, non-electronic liquid or gas measurer imports fell notably to $X in 2021. Over the period under review, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 1,490%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of non-electronic liquid or gas measurer to Nigeria, accounting for a 67% share of total imports. Moreover, non-electronic liquid or gas measurer imports from China exceeded the figures recorded by the second-largest supplier, India (X units), fourfold. The third position in this ranking was held by Hong Kong SAR (X units), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+33.7% per year) and Hong Kong SAR (+6.4% per year).

In value terms, India ($X), China ($X) and the United States ($X) appeared to be the largest non-electronic liquid or gas measurer suppliers to Nigeria, together comprising 61% of total imports. These countries were followed by France, the UK, Hong Kong SAR and Italy, which together accounted for a further 18%.

In terms of the main suppliers, France, with a CAGR of +36.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for non-electronic instruments for measuring or checking variables of liquids or gases stood at $X per unit in 2021, growing by 185% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 195% against the previous year. The import price peaked at $X per unit 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, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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