Nigeria: Optical Telescope Market 2025

Optical Telescope Market Size in Nigeria

In 2021, the Nigerien optical telescope market increased by 23% to $X, rising for the third consecutive year after two years of decline. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +103.8% against 2018 indices. Optical telescope consumption peaked in 2021 and is expected to retain growth in the near future.

Optical Telescope Production in Nigeria

In value terms, optical telescope production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 35%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Optical Telescope Exports

Exports from Nigeria

In 2019, approx. X units of optical telescopes were exported from Nigeria; therefore, remained relatively stable against the previous year. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 780%. The exports peaked in 2019 and are likely to continue growth in years to come.

In value terms, optical telescope exports amounted to $X in 2019. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,191%. Over the period under review, the exports hit record highs in 2019 and are expected to retain growth in the near future.

Exports by Country

Belarus (X units) was the main destination for optical telescope exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2019, the average annual growth rate of volume to Belarus was relatively modest.

From 2012 to 2019, the average annual rate of growth in terms of value to Belarus was relatively modest.

Export Prices by Country

The average optical telescope export price stood at $X per unit in 2019, flattening at the previous year. Over the period under review, the export price saw a strong increase. The most prominent rate of growth was recorded in 2013 an increase of 110%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2019, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Belarus.

From 2012 to 2019, the rate of growth in terms of prices for Ghana amounted to 0.0% per year.

Optical Telescope Imports

Imports into Nigeria

In 2021, approx. X units of optical telescopes were imported into Nigeria; picking up by 195% against 2020. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 800% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, optical telescope imports skyrocketed to $X in 2021. In general, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Africa (X units) was the main supplier of optical telescope to Nigeria, with a 94% share of total imports. It was followed by Japan (X units), with a 3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Africa totaled +112.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (0.0% per year) and Israel (-36.2% per year).

In value terms, Israel ($X) constituted the largest supplier of optical telescope to Nigeria, comprising 71% of total imports. The second position in the ranking was held by South Africa ($X), with a 5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Israel amounted to +52.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+70.9% per year) and Japan (0.0% per year).

Import Prices by Country

In 2021, the average optical telescope import price amounted to $X per unit, rising by 120% against the previous year. Over the period under review, the import price posted a buoyant increase. The pace of growth was the most pronounced in 2013 when the average import price increased by 1,203% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Israel ($X per unit), while the price for South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+139.0%).

Source: IndexBox Platform

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