Nigeria: Toy Market 2024

Toy Market Size in Nigeria

The Nigerien toy market fell to $X in 2021, reducing by -9.4% against the previous year. Overall, consumption continues to indicate a slight setback. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Toy Production in Nigeria

In value terms, toy production contracted to $X in 2021 estimated in export price. Over the period under review, production showed a mild curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 26%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Toy Exports

Exports from Nigeria

In 2021, shipments abroad of dolls and toys decreased by -25.9% to X tons, falling for the third consecutive year after two years of growth. Overall, exports showed a pronounced slump. The pace of growth appeared the most rapid in 2017 with an increase of 249%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, toy exports fell notably to $X in 2021. Over the period under review, exports recorded a perceptible setback. The most prominent rate of growth was recorded in 2015 with an increase of 177%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Benin (X tons) was the main destination for toy exports from Nigeria, accounting for a 50% share of total exports. Moreover, toy exports to Benin exceeded the volume sent to the second major destination, Kenya (X tons), twofold. The third position in this ranking was taken by Tanzania (X kg), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Benin stood at +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+90.4% per year) and Tanzania (+30.3% per year).

In value terms, Benin ($X) remains the key foreign market for dolls and toys exports from Nigeria, comprising 32% of total exports. The second position in the ranking was held by Kenya ($X), with a 13% share of total exports. It was followed by Congo, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value to Benin stood at +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+87.5% per year) and Congo (+3.7% per year).

Export Prices by Country

In 2021, the average toy export price amounted to $X per ton, approximately equating the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 64% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 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 Congo ($X per ton), while the average price for exports to Tanzania ($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 Congo (+35.5%), while the prices for the other major destinations experienced mixed trend patterns.

Toy Imports

Imports into Nigeria

After three years of growth, supplies from abroad of dolls and toys decreased by -37% to X tons in 2021. In general, imports faced a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 863%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, toy imports shrank markedly to $X in 2021. Overall, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 43%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of toy to Nigeria, accounting for a 14% share of total imports. Moreover, toy imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. The third position in this ranking was held by Brazil (X tons), with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-4.9% per year) and Brazil (+93.2% per year).

In value terms, China ($X) constituted the largest supplier of dolls and toys to Nigeria, comprising 75% of total imports. The second position in the ranking was held by the United States ($X), with a 9.4% share of total imports. It was followed by the UK, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.6% per year) and the UK (-6.9% per year).

Import Prices by Country

The average toy import price stood at $X per ton in 2021, picking up by 3.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 148% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :