Price for Inner Tubes, of Rubber in Nigeria - 2022
Contents:
- Price for Inner Tubes, of Rubber in Nigeria (CIF) - 2022
- Price for Inner Tubes, of Rubber in Nigeria (FOB) - 2022
- Imports of Inner Tubes, of Rubber in Nigeria
- Exports of Inner Tubes, of Rubber in Nigeria
Price for Inner Tubes, of Rubber in Nigeria (CIF) - 2022
The average inner tubes, of rubber import price stood at $4.4 per unit in 2022, growing by 11% against the previous year. Over the period under review, the import price recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 89%. Over the period under review, average import prices attained the maximum at $5.4 per unit in 2020; however, from 2021 to 2022, 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 Vietnam ($5 per unit), while the price for Indonesia ($1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Inner Tubes, of Rubber in Nigeria (FOB) - 2022
In 2022, the average inner tubes, of rubber export price amounted to $2.9 per unit, leveling off at the previous year. Over the period under review, the export price enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 207% against the previous year. The export price peaked at $4.6 per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($3.2 per unit), while the average price for exports to Niger ($2.4 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 Ghana (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Inner Tubes, of Rubber in Nigeria
In 2022, after two years of decline, there was significant growth in overseas purchases of inner tubes, of rubbers, when their volume increased by 119% to 639K units. In general, imports, however, faced a precipitous setback. Imports peaked at 2.4M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, inner tubes, of rubber imports surged to $2.8M in 2022. Overall, imports, however, faced a significant decline. Imports peaked at $12M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Inner Tubes, of Rubber in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 9,154 | 2,576 | 614 | 1,965 | -40.1% |
| Vietnam | 1,034 | 915 | 140 | 337 | -31.2% |
| Thailand | 1,267 | 10.7 | 344 | 276 | -39.8% |
| Germany | 473 | 17.9 | 1.4 | 76.3 | -45.6% |
| Indonesia | 83.7 | 2.2 | 26.3 | 19.3 | -38.7% |
| Others | 468 | 267 | 26.1 | 115 | -37.4% |
| Total | 12,480 | 3,790 | 1,151 | 2,788 | -39.3% |
Top Suppliers of Inner Tubes, of Rubber to Nigeria in 2022:
- China (442.1K units)
- Vietnam (67.1K units)
- Thailand (66.6K units)
- Indonesia (19.3K units)
- Germany (15.8K units)
Exports of Inner Tubes, of Rubber in Nigeria
In 2022, inner tubes, of rubber exports from Nigeria fell to 9.4K units, declining by -12.6% against the year before. In general, exports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 110%. As a result, the exports attained the peak of 11K units, and then declined in the following year.
In value terms, inner tubes, of rubber exports fell to $27K in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +14.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. As a result, the exports attained the peak of $30K, and then declined in the following year.
| Export of Inner Tubes, of Rubber in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 4.5 | 9.2 | 17.6 | 16.6 | 54.5% |
| Niger | 8.1 | 10.8 | 7.1 | 7.5 | -2.5% |
| Cote d'Ivoire | 0.5 | 3.1 | 2.9 | 2.7 | 75.4% |
| Gambia | 0.5 | N/A | N/A | N/A | 0% |
| Angola | N/A | N/A | 2.9 | N/A | 0% |
| Sao Tome and Principe | 4.1 | N/A | N/A | N/A | 0% |
| Others | 0.2 | 0.1 | N/A | N/A | -50.0% |
| Total | 17.9 | 23.3 | 30.4 | 26.9 | 14.5% |
Top Export Markets for Inner Tubes, of Rubber from Nigeria in 2022:
- Benin (5.3K units)
- Niger (3.1K units)
- Cote d'Ivoire (1.0K units)
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