Price for Textile Machinery; for Extruding, Drawing, Texturing or Cutting Man-Made Textile Materials in Nigeria - 2022
Contents:
- Price for Textile Machinery; for Extruding, Drawing, Texturing or Cutting Man-Made Textile Materials in Nigeria (CIF) - 2022
- Imports of Textile Machinery; for Extruding, Drawing, Texturing or Cutting Man-Made Textile Materials in Nigeria
Price for Textile Machinery; for Extruding, Drawing, Texturing or Cutting Man-Made Textile Materials in Nigeria (CIF) - 2022
The average import price for textile machinery; for extruding, drawing, texturing or cutting man-made textile materialses stood at $3,790 per unit in 2022, which is down by -58.9% against the previous year. In general, the import price showed a deep reduction. The pace of growth was the most pronounced in 2019 when the average import price increased by 103%. The import price peaked at $10,814 per unit in 2013; however, from 2014 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 China ($16,560 per unit), while the price for Switzerland ($962 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+26.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Textile Machinery; for Extruding, Drawing, Texturing or Cutting Man-Made Textile Materials in Nigeria
For the fourth year in a row, Nigeria recorded growth in overseas purchases of textile machinery; for extruding, drawing, texturing or cutting man-made textile materialses, which increased by 102% to 508 units in 2022. Overall, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of textile machinery; for extruding, drawing, texturing or cutting man-made textile materialses reduced dramatically to $1.9M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +11.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 66%. As a result, imports reached the peak of $2.3M, and then reduced remarkably in the following year.
| Import of Textile Machinery; for Extruding, Drawing, Texturing or Cutting Man-Made Textile Materials in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | N/A | N/A | N/A | 525 | 0% |
| China | 746 | 401 | 1,295 | 480 | -13.7% |
| Taiwan (Chinese) | 32.2 | 67.3 | 123 | 290 | 108.1% |
| South Korea | 130 | 352 | 2.5 | 220 | 19.2% |
| Cote d'Ivoire | N/A | N/A | N/A | 84.6 | 0% |
| Italy | 3.3 | 5.7 | 0.2 | 67.4 | 173.3% |
| Belgium | 468 | 281 | 147 | 28.7 | -60.6% |
| India | 0.1 | 270 | 714 | 11.6 | 387.7% |
| Others | 11.6 | 25.6 | 44.5 | 217 | 165.5% |
| Total | 1,390 | 1,403 | 2,326 | 1,925 | 11.5% |
Top Suppliers of Textile Machinery; for Extruding, Drawing, Texturing or Cutting Man-Made Textile Materials to Nigeria in 2022:
- Austria (208.0 units)
- Taiwan (Chinese) (114.0 units)
- South Korea (87.0 units)
- Cote d'Ivoire (34.0 units)
- China (29.0 units)
- Italy (18.0 units)
- Belgium (12.0 units)
- India (1.0 units)
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