The import of silk waste to Nigeria indicates a declining trend from 2024 through 2028. Starting at 123.02 thousand US dollars in 2024, values forecast a reduction yearly: with 113.41 in 2025, 104.00 in 2026, 94.77 in 2027, and 85.73 in 2028. This decline suggests a decreasing demand for silk waste imports over time. Comparing 2023's actual figures with forecasted figures indicates a year-on-year decrease.
Year-on-year variation:
- 2024-2025: -7.81%
- 2025-2026: -8.31%
- 2026-2027: -8.88%
- 2027-2028: -9.54%
The CAGR over the five-year period from 2024 to 2028 projects an average annual decrease of approximately -8.13%.
Future trends to watch for include potential shifts in market dynamics that may alter the demand for silk waste, such as technological innovations in recycling processes, changes in the textile production industry, or economic policy adjustments affecting import tariffs and trade agreements.
