The import value of parquet panels and tiles of wood to Nigeria demonstrated fluctuations over the years, peaking at $1090.6 thousand in 2016. Notably, the import value in 2023 was $857.25 thousand USD, reflecting stability and growth with a consistent trend since 2021. Year-on-year variations ranged from -45.69% in 2017 to 32.99% in 2016, indicating a volatile market. However, a steady recovery post-2020 and a positive 5-year CAGR of 4.27% up to 2023 point toward progressive stabilization.
Future trends to watch for include:
- Continued growth, with a forecasted 5-year CAGR of 2.38%.
- Reaching nearly $994.13 thousand by 2028, translating to a 12.5% overall growth from 2023.
- Potential market influences such as economic conditions, trade policies, and construction industry demands.
