Nigeria: Market for Vacuum Cleaners Without Motor 2024

Market Size for Vacuum Cleaners Without Motor in Nigeria

In 2022, the Nigerien vacuum cleaner without motor market decreased by -0.1% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Vacuum cleaner without motor consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Vacuum Cleaners Without Motor in Nigeria

In value terms, vacuum cleaner without motor production expanded slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 35%. Vacuum cleaner without motor production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Vacuum Cleaners Without Motor

Exports from Nigeria

In 2022, after three years of growth, there was significant decline in overseas shipments of vacuum cleaners without motor, when their volume decreased by -9.6% to X units. Overall, exports, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2017 with an increase of 209% against the previous year. The exports peaked at X units in 2021, and then dropped in the following year.

In value terms, vacuum cleaner without motor exports fell dramatically to $X in 2022. Over the period under review, exports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2017 when exports increased by 532% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Angola (X units) was the main destination for vacuum cleaner without motor exports from Nigeria, accounting for a 34% share of total exports. Moreover, vacuum cleaner without motor exports to Angola exceeded the volume sent to the second major destination, Cote d'Ivoire (X units), twofold. The third position in this ranking was taken by Niger (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Angola amounted to -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+21.5% per year) and Niger (+17.5% per year).

In value terms, Angola ($X) remains the key foreign market for vacuum cleaners without motor exports from Nigeria, comprising 41% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 15% share of total exports. It was followed by Kenya, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Angola stood at -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+4.1% per year) and Kenya (+7.3% per year).

Export Prices by Country

The average vacuum cleaner without motor export price stood at $X per unit in 2022, waning by -15.7% against the previous year. In general, the export price saw a deep downturn. The growth pace was the most rapid in 2017 when the average export price increased by 105%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Uganda ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (-1.5%), while the prices for the other major destinations experienced a decline.

Imports of Vacuum Cleaners Without Motor

Imports into Nigeria

In 2022, the amount of vacuum cleaners without motor imported into Nigeria soared to X units, rising by 361% against the year before. Overall, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, vacuum cleaner without motor imports soared to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 512% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Singapore (X units) constituted the largest vacuum cleaner without motor supplier to Nigeria, with a 78% share of total imports. Moreover, vacuum cleaner without motor imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. Italy (X units) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled +88.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.8% per year) and Italy (+30.6% per year).

In value terms, China ($X) constituted the largest supplier of vacuum cleaners without motor to Nigeria, comprising 53% of total imports. The second position in the ranking was taken by Italy ($X), with a 10% share of total imports. It was followed by Singapore, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+35.0% per year) and Singapore (+36.2% per year).

Import Prices by Country

In 2022, the average vacuum cleaner without motor import price amounted to $X per unit, declining by -51.4% against the previous year. Overall, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2021 an increase of 65% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :