Nigeria: Travel Set Market 2025

Travel Set Market Size in Nigeria

In 2021, the Nigerien travel set market decreased by -11.2% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, recorded a significant expansion. Over the period under review, the market attained the maximum level at $X in 2020, and then contracted in the following year.

Travel Set Production in Nigeria

In value terms, travel set production fell remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 85% against the previous year. Travel set production peaked at $X in 2020, and then declined dramatically in the following year.

Travel Set Exports

Exports from Nigeria

In 2021, shipments abroad of travel sets increased by 8.7% to X units, rising for the seventh year in a row after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 228%. Over the period under review, the exports attained the maximum at X units in 2012; afterwards, it flattened through to 2021.

In value terms, travel set exports reduced slightly to $X in 2021. Overall, exports, however, recorded a deep reduction. The growth pace was the most rapid in 2015 with an increase of 188% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for travel set exports from Nigeria, with a 71% share of total exports. Moreover, travel set exports to India exceeded the volume sent to the second major destination, Pakistan (X units), fourfold. The third position in this ranking was taken by Cameroon (X units), with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +126.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+79.1% per year) and Cameroon (+213.0% per year).

In value terms, India ($X) remains the key foreign market for travel sets exports from Nigeria, comprising 76% of total exports. The second position in the ranking was held by Pakistan ($X), with a 20% share of total exports. It was followed by Cameroon, with a 1.6% share.

From 2012 to 2021, the average annual growth rate of value to India amounted to +101.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+60.7% per year) and Cameroon (+90.7% per year).

Export Prices by Country

In 2021, the average travel set export price amounted to $X per unit, waning by -11.5% against the previous year. Overall, the export price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of 115%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Cameroon ($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 the United States (+74.7%), while the prices for the other major destinations experienced more modest paces of growth.

Travel Set Imports

Imports into Nigeria

In 2021, the amount of travel sets imported into Nigeria surged to X units, growing by 34% on the previous year. Over the period under review, imports saw a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 1,028% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, travel set imports skyrocketed to $X in 2021. Overall, imports recorded a strong increase. The growth pace was the most rapid in 2013 with an increase of 313% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest travel set supplier to Nigeria, accounting for a 52% share of total imports. Moreover, travel set imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. Spain (X units) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +83.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.2% per year) and Spain (+37.0% per year).

In value terms, the United States ($X) constituted the largest supplier of travel sets to Nigeria, comprising 51% of total imports. The second position in the ranking was taken by Spain ($X), with a 7.5% share of total imports. It was followed by China, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +71.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+16.9% per year) and China (+2.3% per year).

Import Prices by Country

The average travel set import price stood at $X per unit in 2021, growing by 1.8% against the previous year. Over the period under review, the import price, however, saw a pronounced descent. The pace of growth was the most pronounced in 2014 an increase of 248% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Kenya ($X per unit), while the price for Turkey ($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 Arab Emirates (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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