Nigeria: Sliding Pencil Market 2024

Sliding Pencil Market Size in Nigeria

The Nigerien sliding pencil market reduced rapidly to $X in 2021, which is down by -16.5% against the previous year. Over the period under review, consumption, however, showed notable growth. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Sliding Pencil Production in Nigeria

In value terms, sliding pencil production plummeted to $X in 2021 estimated in export price. Over the period under review, production, however, posted tangible growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 116%. Sliding pencil production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Sliding Pencil Exports

Exports from Nigeria

In 2021, shipments abroad of propelling or sliding pencils decreased by -28.6% to X units for the first time since 2018, thus ending a two-year rising trend. In general, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 2,171%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, sliding pencil exports declined rapidly to $X in 2021. Overall, exports showed a pronounced decline. The pace of growth was the most pronounced in 2015 with an increase of 1,969% against the previous year. As a result, the exports attained the peak of $X. From 2016 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 sliding pencil exports from Nigeria, accounting for a 69% share of total exports. Moreover, sliding pencil exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Sao Tome and Principe (X units), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire stood at -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sao Tome and Principe (-4.5% per year) and Benin (-15.7% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for propelling or sliding pencils exports from Nigeria, comprising 69% of total exports. The second position in the ranking was taken by Sao Tome and Principe ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire totaled +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sao Tome and Principe (-4.9% per year) and Benin (-14.0% per year).

Export Prices by Country

In 2021, the average sliding pencil export price amounted to $X per unit, surging by 7% against the previous year. In general, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sliding pencil export price increased by +32.8% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of 47%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Sao Tome and Principe ($X per unit), while the average price for exports to Benin ($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 Cote d'Ivoire (+5.7%), while the prices for the other major destinations experienced mixed trend patterns.

Sliding Pencil Imports

Imports into Nigeria

In 2021, sliding pencil imports into Nigeria surged to X units, rising by 104% against 2020 figures. In general, imports posted a pronounced expansion. The most prominent rate of growth was recorded in 2016 with an increase of 8,448% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sliding pencil imports skyrocketed to $X in 2021. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 9,069%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), India (X units) and Germany (X units) were the main suppliers of sliding pencil imports to Nigeria, with a combined 72% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +142.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of propelling or sliding pencils to Nigeria, comprising 56% of total imports. The second position in the ranking was held by France ($X), with a 6.7% share of total imports. It was followed by South Korea, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+64.3% per year) and South Korea (+33.7% per year).

Import Prices by Country

In 2021, the average sliding pencil import price amounted to $X per unit, increasing by 56% against the previous year. Overall, the import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2017 an increase of 70%. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for India ($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 (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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