Nigeria: Iron Household Articles Market 2025

Iron Household Articles Market Size in Nigeria

The Nigerien iron household articles market stood at $X in 2021, rising by 2.7% 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). Overall, consumption saw a significant expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Iron Household Articles Exports

Exports from Nigeria

In 2021, overseas shipments of table, kitchen or household articles and parts of iron were finally on the rise to reach X tons after three years of decline. In general, exports enjoyed buoyant growth. The growth pace was the most rapid in 2015 with an increase of 2,384% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, iron household articles exports skyrocketed to $X in 2021. Overall, exports, however, saw a slight downturn. The pace of growth was the most pronounced in 2015 with an increase of 1,402%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Niger (X tons) was the main destination for iron household articles exports from Nigeria, accounting for a 46% share of total exports. Moreover, iron household articles exports to Niger exceeded the volume sent to the second major destination, Belgium (X tons), threefold. Benin (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Niger stood at +79.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+25.9% per year) and Benin (+61.8% per year).

In value terms, the largest markets for iron household articles exported from Nigeria were Belgium ($X), Niger ($X) and Germany ($X), with a combined 74% share of total exports.

Niger, with a CAGR of +62.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron household articles export price stood at $X per ton in 2021, shrinking by -25.1% against the previous year. In general, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 90% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Benin (-3.1%), while the prices for the other major destinations experienced a decline.

Iron Household Articles Imports

Imports into Nigeria

For the seventh consecutive year, Nigeria recorded growth in supplies from abroad of table, kitchen or household articles and parts of iron, which increased by 3.6% to X tons in 2021. In general, imports showed a significant increase. The growth pace was the most rapid in 2018 with an increase of 216%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, iron household articles imports contracted modestly to $X in 2021. Over the period under review, imports saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 161%. Over the period under review, imports hit record highs at $X in 2020, and then contracted slightly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest iron household articles supplier to Nigeria, accounting for a 59% share of total imports. Moreover, iron household articles imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. The United States (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+58.8% per year) and the United States (+56.8% per year).

In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles and parts of iron to Nigeria, comprising 47% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 10% share of total imports. It was followed by Cote d'Ivoire, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +26.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+60.8% per year) and Cote d'Ivoire (+26.7% per year).

Import Prices by Country

In 2021, the average iron household articles import price amounted to $X per ton, dropping by -6.6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 178%. The import price peaked at $X per ton in 2016; however, from 2017 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 Cote d'Ivoire ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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