The import of domestic vacuum cleaners to Nigeria shows a fluctuating trend from 2013 to 2023, with significant peaks in 2014 and 2018. The value stood at $306.46 thousand USD in 2023, a decrease from previous years. Over the last two years, there was a consistent decrease in imports, with year-on-year variation in 2022 and 2023 being -9.32% and -10.08% respectively. The compound annual growth rate (CAGR) over the past five years (2018-2023) was -11.24%, indicating an overall decline in imports.
Future trends suggest a continued decrease in the import value of domestic vacuum cleaners to Nigeria, with forecasted data showing a 5-year CAGR of -13.91% and an overall decline of 52.71% by 2028. Trends to watch for include shifts in consumer preferences, changes in domestic production capabilities, and fluctuations in the Nigerian economy that could impact import volumes and values.
