In 2023, Nigeria's exports of plastics and articles thereof stood at a noteworthy level. Based on the forecasted data, we observe a declining trend in the export value from 2024 to 2028. In 2024, the export value is projected to be 51.486 million USD, which is expected to decrease year-on-year by approximately 8.9% in 2025, 9.6% in 2026, 10.4% in 2027, and 11.3% in 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 underscores an average annual decline of around 10%.

Future trends to watch for:

Potential impacts of global market conditions on plastic exports.
Fluctuations in raw material prices and their influence on export competitiveness.
Regulatory changes and environmental policies impacting plastic production and trade.
Technological advancements and innovations in plastic manufacturing.
Exploration of alternative markets to counterbalance the declining trend.