The forecast for electrical equipment exports to Nigeria by China indicates steady growth over the next five years. In 2023, the value stood at 1.23 billion US dollars. The year-on-year variations are as follows: for 2024, an increase of 0.81%; for 2025, an increase of 0.72%; for 2026, an increase of 0.70%; for 2027, an increase of 0.68%; and for 2028, an increase of 0.66%. The cumulative average growth rate (CAGR) over the 5-year period is approximately 0.71% per annum.
Future trends to watch for include shifts in global supply chain dynamics, the impact of geopolitical factors on trade policies, advancements in technology and the rising demand for more energy-efficient equipment. These factors may influence future export volumes and values. Additionally, ongoing infrastructure development in Nigeria may lead to greater imports of electrical equipment from China. Keeping an eye on these developments will be crucial for accurate forecasting and strategic planning.
