Based on the forecast data, the import value of furniture parts to Nigeria shows a slight declining trend over the next five years, with values decreasing from $3.5694 million in 2024 to $3.5236 million in 2028. The year-on-year percentage variations are as follows:
| Year | Value (Million US Dollars) | Year-on-Year Variation (%) |
|---|---|---|
| 2024 | 3.5694 | - |
| 2025 | 3.5576 | -0.33% |
| 2026 | 3.546 | -0.33% |
| 2027 | 3.5347 | -0.32% |
| 2028 | 3.5236 | -0.32% |
The Compound Annual Growth Rate (CAGR) over the last five years is approximately -0.33%, showing a consistent, yet very slight, decline in furniture parts imports.
Vital trends to monitor include Nigeria's economic stability, domestic manufacturing capabilities, and changes in import regulations. Additionally, shifts in consumer preferences towards local craftsmanship or international brands could influence future import values.