Nigeria - Imitation Jewelry - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Imitation Jewellery Market 2024
Imitation Jewellery Market Size in Nigeria
In 2022, the Nigerien imitation jewellery market decreased by X% to $X, falling for the second consecutive year after five years of growth. Over the period under review, consumption showed a deep reduction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.
Imitation Jewellery Exports
Exports from Nigeria
After two years of decline, shipments abroad of imitation jewelry increased by X% to X tons in 2022. In general, exports saw a tangible expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, imitation jewellery exports surged to $X in 2022. Overall, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
Exports by Country
Democratic Republic of the Congo (X tons) was the main destination for imitation jewellery exports from Nigeria, with a X% share of total exports. Moreover, imitation jewellery exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Benin (X tons), twofold. Niger (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Democratic Republic of the Congo amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Niger (X% per year).
In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for imitation jewelry exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Niger ($X), with a X% share of total exports. It was followed by Benin, with a X% share.
From 2012 to 2022, the average annual growth rate of value to Democratic Republic of the Congo amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (X% per year) and Benin (X% per year).
Export Prices by Country
The average imitation jewellery export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price posted temperate growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Benin ($X 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 Ghana (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imitation Jewellery Imports
Imports into Nigeria
In 2022, purchases abroad of imitation jewelry decreased by X% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.
In value terms, imitation jewellery imports declined sharply to $X in 2022. Overall, imports showed a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2022, China (X tons) constituted the largest imitation jewellery supplier to Nigeria, accounting for a X% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The UK (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and the UK (X% per year).
In value terms, China ($X) constituted the largest supplier of imitation jewelry to Nigeria, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Ethiopia, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Ethiopia (X% per year).
Import Prices by Country
In 2022, the average imitation jewellery import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price recorded a perceptible decline. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ethiopia ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ethiopia (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the imitation jewellery market 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 32131000 - Imitation jewellery and related articles
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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