Nigeria's nuts export volume from 2014 to 2023 has shown moderate fluctuations with a notable dip in 2015 followed by a recovery. The year 2020 experienced a slight decline, but by 2023, the export volume stood steady at 67.0 thousand metric tons. The year-on-year variations reflect these dynamics, with sharp changes early on stabilizing in recent years. Over the last two years, the export volume remained unchanged, while the Compound Annual Growth Rate (CAGR) over the last five years was 0.3%, indicating modest growth.
However, forecasts from 2024 to 2028 suggest a gradual increase in export volumes, growing at an average rate of 0.32% per year. The projected five-year growth rate is 1.6%, pointing to a positive yet slow trend.
Future trends to watch for include:
- Potential policy changes impacting agriculture and export sectors.
- Global demand variation for nuts, influenced by health trends and economic conditions.
- Technological advancements in agriculture that could boost productivity and export capacity.