The import of frames and mountings for spectacles and goggles to Nigeria has shown significant variation from 2013 to 2023. In 2013, the import stood at approximately $120.95 thousand, growing substantially by 102.54% in 2014. Despite a decline in 2017, which saw a drop of 44.02%, the trend recovered. From 2019 onwards, the growth rate stabilized around 3%, with a CAGR of 3.46% by 2023, when the import value reached $341.04 thousand.
Looking forward, the forecast from 2024 to 2028 predicts a moderate growth, with a five-year CAGR of 2.04%, reaching $388.08 thousand by 2028, indicating a total growth rate of 10.62% over the period. Future trends to watch for include economic stability in Nigeria, potential policy changes impacting imports, and shifts in consumer preferences towards eyewear.
