Price for Textiles; Worn Clothing and Other Worn Articles in Nigeria - 2023
Contents:
- Price for Textiles; Worn Clothing and Other Worn Articles in Nigeria (CIF) - 2022
- Price for Textiles; Worn Clothing and Other Worn Articles in Nigeria (FOB) - 2022
- Imports of Textiles; Worn Clothing and Other Worn Articles in Nigeria
- Exports of Textiles; Worn Clothing and Other Worn Articles in Nigeria
Price for Textiles; Worn Clothing and Other Worn Articles in Nigeria (CIF) - 2022
The average import price for textiles; worn clothing and other worn articleses stood at $1,479 per ton in 2022, with a decrease of -30% against the previous year. Over the period under review, the import price, however, continues to indicate modest growth. The pace of growth was the most pronounced in 2018 an increase of 52% against the previous year. As a result, import price reached the peak level of $3,322 per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($3,171 per ton), while the price for China ($628 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Textiles; Worn Clothing and Other Worn Articles in Nigeria (FOB) - 2022
The average export price for textiles; worn clothing and other worn articleses stood at $1,144 per ton in 2022, which is down by -32.5% against the previous year. Over the period under review, the export price, however, posted a perceptible expansion. The pace of growth appeared the most rapid in 2019 an increase of 126%. The export price peaked at $3,353 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($4,938 per ton), while the average price for exports to Central African Republic ($236 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+17.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Textiles; Worn Clothing and Other Worn Articles in Nigeria
In 2022, purchases abroad of textiles; worn clothing and other worn articleses was finally on the rise to reach 869 tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a deep slump.
In value terms, imports of textiles; worn clothing and other worn articleses rose notably to $1.3M in 2022. In general, imports, however, recorded a sharp decrease.
| Import of Textiles; Worn Clothing and Other Worn Articles in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 18.5 | 17.4 | 45.5 | 191 | 117.7% |
| United States | 355 | 645 | 106 | 147 | -25.5% |
| United Kingdom | 144 | 242 | 93.2 | 117 | -6.7% |
| Norway | 1.6 | 0.1 | 0.1 | 86.0 | 277.4% |
| Turkey | 4.4 | 3.0 | 6.9 | 78.7 | 161.5% |
| India | 64.9 | 23.1 | 17.1 | 74.9 | 4.9% |
| Germany | 247 | 12.5 | 15.4 | 42.3 | -44.5% |
| Italy | 21.8 | 101 | 21.2 | 38.3 | 20.7% |
| United Arab Emirates | 292 | 44.6 | 13.9 | 35.1 | -50.6% |
| China | 110 | 3.3 | 19.5 | 28.8 | -36.0% |
| Spain | 1.9 | 2.1 | 2.4 | 28.6 | 146.9% |
| South Korea | 0.7 | 116 | 0.3 | 23.3 | 221.7% |
| Netherlands | 10.5 | 18.2 | 18.6 | 21.9 | 27.8% |
| Others | 2,156 | 1,634 | 827 | 372 | -44.3% |
| Total | 3,429 | 2,863 | 1,187 | 1,285 | -27.9% |
Top Suppliers of Textiles; Worn Clothing and Other Worn Articles to Nigeria in 2022:
- United States (98.6 tons)
- Saudi Arabia (91.8 tons)
- Turkey (90.0 tons)
- Norway (71.0 tons)
- United Kingdom (61.7 tons)
- United Arab Emirates (46.9 tons)
- China (45.9 tons)
- Italy (39.2 tons)
- Netherlands (24.3 tons)
- India (23.6 tons)
- Spain (19.9 tons)
- South Korea (18.1 tons)
- Germany (17.4 tons)
Exports of Textiles; Worn Clothing and Other Worn Articles in Nigeria
In 2022, shipments abroad of textiles; worn clothing and other worn articleses decreased by -27.7% to 565 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 95%. As a result, the exports reached the peak of 782 tons, and then reduced dramatically in the following year.
In value terms, exports of textiles; worn clothing and other worn articleses declined sharply to $647K in 2022. In general, exports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 97%. As a result, the exports reached the peak of $1.3M, and then contracted dramatically in the following year.
| Export of Textiles; Worn Clothing and Other Worn Articles in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 192 | 357 | 712 | 219 | 4.5% |
| Benin | 1.3 | 63.5 | 221 | 191 | 427.7% |
| Kenya | 35.4 | 24.2 | 53.5 | 75.0 | 28.4% |
| United States | 6.3 | 23.5 | 47.9 | 27.2 | 62.8% |
| Niger | 10.1 | 12.3 | 18.0 | 12.9 | 8.5% |
| Democratic Republic of the Congo | 232 | 105 | 155 | 8.8 | -66.4% |
| Central African Republic | N/A | N/A | 1.7 | 6.8 | 300.0% |
| Cote d'Ivoire | 102 | 43.3 | 0.6 | 0.1 | -90.1% |
| Others | 111 | 44.2 | 117 | 106 | -1.5% |
| Total | 689 | 673 | 1,326 | 647 | -2.1% |
Top Export Markets for Textiles; Worn Clothing and Other Worn Articles from Nigeria in 2022:
- Benin (292.6 tons)
- United Kingdom (139.2 tons)
- Kenya (48.1 tons)
- Central African Republic (28.7 tons)
- United States (19.2 tons)
- Niger (7.3 tons)
- Democratic Republic of the Congo (2.9 tons)
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