Report Update Feb 1, 2025

Nigeria - Silver in Semi-Manufactured Forms - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Semi-Manufactured Silver Market 2025

Semi-Manufactured Silver Market Size in Nigeria

The Nigerien semi-manufactured silver market soared to $X in 2021, rising by 53% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a modest expansion. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Semi-Manufactured Silver Exports

Exports from Nigeria

In 2021, after six years of growth, there was significant decline in shipments abroad of silver in semi-manufactured forms, when their volume decreased by -51.3% to X kg. Overall, exports saw a noticeable downturn. The most prominent rate of growth was recorded in 2015 with an increase of 180%. The exports peaked at X kg in 2020, and then declined markedly in the following year.

In value terms, semi-manufactured silver exports fell significantly to $X in 2021. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 83% against the previous year. As a result, the exports reached the peak of $X, and then shrank dramatically in the following year.

Exports by Country

The UK (X kg) was the main destination for semi-manufactured silver exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK totaled -1.9%.

In value terms, the UK ($X) remains the key foreign market for silver in semi-manufactured forms exports from Nigeria, comprising 98% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK stood at -5.5%.

Export Prices by Country

In 2021, the average semi-manufactured silver export price amounted to $X per ton, shrinking by -40.1% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of 85% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, 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 the United Arab Emirates ($X per ton), while the average price for exports to the UK stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (-3.6%).

Semi-Manufactured Silver Imports

Imports into Nigeria

In 2021, the amount of silver in semi-manufactured forms imported into Nigeria surged to X kg, rising by 18% against the previous year's figure. In general, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2018 when imports increased by 102%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, semi-manufactured silver imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 96%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X kg), India (X kg) and South Korea (X kg) were the main suppliers of semi-manufactured silver imports to Nigeria, together accounting for 58% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +56.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of silver in semi-manufactured forms to Nigeria, comprising 41% of total imports. The second position in the ranking was taken by India ($X), with a 7.3% share of total imports. It was followed by South Africa, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled -10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+38.0% per year) and South Africa (-17.2% per year).

Import Prices by Country

The average semi-manufactured silver import price stood at $X per kg in 2021, surging by 61% against the previous year. Over the period under review, the import price, however, recorded a abrupt downturn. The import price peaked at $X per kg in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for silver in semi-manufactured forms in the world?

India constituted the country with the largest volume of semi-manufactured silver consumption, comprising approx. 29% of total volume. Moreover, semi-manufactured silver consumption in India exceeded the figures recorded by the second-largest consumer, the United States, threefold. Japan ranked third in terms of total consumption with a 5.2% share.

What are the largest producers of silver in semi-manufactured forms in the world?

The countries with the highest volumes of in 2021 were Japan, Germany and the United States, together accounting for 38% of global production. These countries were followed by India, Italy, the UK, South Korea, Pakistan, Nigeria, Russia, Brazil, Indonesia and Australia, which together accounted for a further 34%.

What are the leading suppliers of silver in semi-manufactured forms to Nigeria?

In value terms, Germany constituted the largest supplier of semi-manufactured silver to Nigeria, comprising 74% of total imports. The second position in the ranking was occupied by India, with a 13% share of total imports. It was followed by the United States, with an 8.6% share.

What are the leading importers of silver in semi-manufactured forms from Nigeria?

In value terms, the UK remains the key foreign market for semi-manufactured silver exports from Nigeria.

What is the average export price for silver in semi-manufactured forms in Nigeria?

The average semi-manufactured silver export price stood at $262,805 per ton in 2021, increasing by 3.1% against the previous year.

What is the average import price for silver in semi-manufactured forms in Nigeria?

In 2021, the average semi-manufactured silver import price amounted to $57,506 per ton, picking up by 39% against the previous year.

This report provides an in-depth analysis of the semi-manufactured silver market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24411050 - Silver, in semi-manufactured forms (including plated with gold or platinum) (excluding unwrought or in powder form)

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024