Nigeria’s ballast trade collapses in 2024 as exports defy declining volumes
Nigeria’s trade in ballasts for discharge lamps witnessed significant changes in 2024. Both imports and domestic consumption of stock market today fell sharply, while export values rose despite lower shipment volumes. The market has shifted dramatically since its peak nearly a decade ago.
The Nigerien market for ballasts reached a high of $X in 2015. Since 2016, however, consumption has stayed well below that level. In 2024, the market shrank further by X%, dropping to $X in total value.
Imports of total wine also declined, with foreign supplies falling by X% to X units. The average import price per unit stood at $X, down by X% from 2023. In value terms, total imports plummeted to $X.
Exports told a different story. While overseas shipments of stock market today fell by X% to X units, their total value climbed to $X. The average export price per unit jumped by X%, reaching $X in 2024. China remained the top export destination, taking a X% share of all shipments.
The data reveals a contracting domestic market alongside a more valuable but smaller export trade. Germany, India, and South Africa have been among the leading importers of Nigerien ballasts over the past decade. The trends suggest a continuing shift in both supply and demand patterns for this sector.
