Nigeria - Precious Metal Ores And Concentrates - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Precious Metal Ore and Concentrate in Nigeria - 2022
Contents:
- Price for Precious Metal Ore and Concentrate in Nigeria (FOB) - 2022
- Price for Precious Metal Ore and Concentrate in Nigeria (CIF) - 2022
- Exports of Precious Metal Ore and Concentrate in Nigeria
- Imports of Precious Metal Ore and Concentrate in Nigeria
Price for Precious Metal Ore and Concentrate in Nigeria (FOB) - 2022
The average export price for precious metal ores and concentrates stood at $1,412 per ton in 2022, growing by 1.9% against the previous year. Overall, the export price, however, showed a abrupt downturn. The growth pace was the most rapid in 2017 an increase of 27%. Over the period under review, the average export prices attained the maximum at $8,022 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($1,458 per ton), while the average price for exports to the United States totaled $253 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.0%).
Price for Precious Metal Ore and Concentrate in Nigeria (CIF) - 2022
In 2022, the average import price for precious metal ores and concentrates amounted to $160,390 per ton, waning by -21.5% against the previous year. In general, the import price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 an increase of 2,171%. As a result, import price attained the peak level of $2,241 per kg. From 2021 to 2022, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for the UK.
From 2012 to 2022, the rate of growth in terms of prices for India amounted to +37.8% per year.
Exports of Precious Metal Ore and Concentrate in Nigeria
In 2022, exports of precious metal ores and concentrates from Nigeria surged to 532 tons, with an increase of 39% on the year before. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,288% against the previous year. As a result, the exports attained the peak of 692 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, precious metal ore and concentrate exports surged to $751K in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2020 when exports increased by 1,112% against the previous year. As a result, the exports reached the peak of $803K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
Export of Precious Metal Ore and Concentrate in Nigeria (Thousand USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 58.8 | 798 | 472 | 745 | 133.1% |
United States | 7.4 | 5.1 | 3.3 | 5.2 | -11.1% |
Others | N/A | N/A | 54.8 | 0.1 | -99.8% |
Total | 66.2 | 803 | 530 | 751 | 124.7% |
Top Export Markets for Precious Metal Ore and Concentrate from Nigeria in 2022:
- China (511.2 tons)
- United States (20.7 tons)
Imports of Precious Metal Ore and Concentrate in Nigeria
In 2022, approx. 59 kg of precious metal ores and concentrates were imported into Nigeria; falling by -11.9% against 2021 figures. Over the period under review, imports faced a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 738%.
In value terms, precious metal ore and concentrate imports reduced remarkably to $9.5K in 2022. Overall, imports showed a perceptible contraction. The pace of growth was the most pronounced in 2020 with an increase of 71% against the previous year. As a result, imports reached the peak of $18K. From 2021 to 2022, the growth of imports remained at a lower figure.
Import of Precious Metal Ore and Concentrate in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United Kingdom | 10.5 | 0.8 | 8.1 | 9.5 | -3.3% |
Others | N/A | 17.1 | 5.6 | N/A | -67.3% |
Total | 10.5 | 17.9 | 13.7 | 9.5 | -3.3% |
Top Suppliers of Precious Metal Ore and Concentrate to Nigeria in 2022:
- United Kingdom (59.0 kg)
This report provides an in-depth analysis of the market for precious metal ore and concentrate in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 07291400 - Precious metal ores and concentrates
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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