Price for Agriculture or Forestry Hand Tools in Nigeria - 2022
Contents:
- Price for Agriculture or Forestry Hand Tools in Nigeria (CIF) - 2022
- Price for Agriculture or Forestry Hand Tools in Nigeria (FOB) - 2022
- Imports of Agriculture or Forestry Hand Tools in Nigeria
- Exports of Agriculture or Forestry Hand Tools in Nigeria
Price for Agriculture or Forestry Hand Tools in Nigeria (CIF) - 2022
The average import price for agriculture or forestry hand toolses stood at $1,482 per ton in 2022, growing by 26% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, agriculture or forestry hand tools import price increased by +51.8% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 35% against the previous year. The import price peaked at $1,978 per ton in 2017; however, from 2018 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 Ghana ($5,913 per ton), while the price for China ($777 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Agriculture or Forestry Hand Tools in Nigeria (FOB) - 2022
In 2022, the average export price for agriculture or forestry hand toolses amounted to $809 per ton, waning by -63.7% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 203% against the previous year. The export price peaked at $2,644 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($854 per ton), while the average price for exports to Benin totaled $610 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+13.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Agriculture or Forestry Hand Tools in Nigeria
In 2022, supplies from abroad of agriculture or forestry hand toolses decreased by -18.7% to 4.5K tons, falling for the second consecutive year after two years of growth. In general, imports, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 217% against the previous year. As a result, imports reached the peak of 13K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, agriculture or forestry hand tools imports totaled $6.7M in 2022. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 187% against the previous year. As a result, imports reached the peak of $12M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Agriculture or Forestry Hand Tools in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 2.0 | 6.5 | 3.2 | 3.4 | 19.3% |
| China | 1.8 | 5.4 | 2.9 | 2.9 | 17.2% |
| Others | 0.5 | 0.4 | 0.4 | 0.4 | -7.2% |
| Total | 4.3 | 12.4 | 6.5 | 6.7 | 15.9% |
Top Suppliers of Agriculture or Forestry Hand Tools to Nigeria in 2022:
- China (3.7K tons)
- Ghana (0.6K tons)
Exports of Agriculture or Forestry Hand Tools in Nigeria
In 2022, agriculture or forestry hand tools exports from Nigeria skyrocketed to 11 tons, with an increase of 417% against 2021 figures. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, agriculture or forestry hand tools exports surged to $8.5K in 2022. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 215% against the previous year. As a result, the exports reached the peak of $13K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Agriculture or Forestry Hand Tools in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 2.6 | 1.4 | 0.1 | 7.4 | 41.7% |
| Benin | 0.2 | N/A | 0.2 | 1.2 | 81.7% |
| Cote d'Ivoire | 0.1 | 10.6 | N/A | N/A | 10500.0% |
| Congo | N/A | 0.5 | 1.6 | N/A | 220.0% |
| Others | 1.1 | N/A | 2.7 | N/A | 56.7% |
| Total | 4.0 | 12.5 | 4.5 | 8.5 | 28.6% |
Top Export Markets for Agriculture or Forestry Hand Tools from Nigeria in 2022:
- Niger (8.6 tons)
- Benin (1.9 tons)
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