The forecast for the import of parts of domestic appliances with electric motors to Nigeria shows a progressive decline from 2024 to 2028. Starting at 302.84 thousand USD in 2024, the import value is expected to decrease year-on-year to 230.47 thousand USD in 2028. This trajectory suggests a reducing demand or increased local production of such parts within Nigeria. In 2023, the actual import value stood at 320 thousand USD.
Year-on-year percentage variations over the data show a consistent downward trend, indicating negative growth:
- -6.16% from 2024 to 2025
- -6.42% from 2025 to 2026
- -6.74% from 2026 to 2027
- -7.08% from 2027 to 2028
The compound annual growth rate (CAGR) over the five-year period averages a decrease of 6.6% per year.
Future trends to watch for include potential shifts in local manufacturing capabilities, trade policies, economic conditions, and technological advancements, which might impact the demand for imported appliance parts in Nigeria.
