In 2024, Nigeria is projected to import 159.32 thousand kilograms of plastic statuettes and other ornamental articles. This forecasted value shows a decrease from the preceding years and suggests a downward trend in imports over the last few years. The volume of imports in 2023 stood at 164.8 thousand kilograms, marking a year-on-year decrease of 3.3% from 2023 to 2024. The subsequent years continue this downward trajectory with forecasted volumes of 153.92 thousand kilograms in 2025, 148.63 thousand kilograms in 2026, 143.44 thousand kilograms in 2027, and 138.36 thousand kilograms in 2028. Over the five-year period from 2023 to 2028, the compound annual growth rate (CAGR) is -2.0%, indicating a consistent annual decrease in import volumes.
Future trends to watch for include the impact of domestic production capabilities on import needs, shifting consumer preferences towards locally-made or sustainable products, and potential government policies aimed at reducing plastic imports in favor of environmental sustainability. Monitoring these factors will be crucial for predicting future import trends. Additionally, global economic conditions and trade regulations could further influence the volume of plastic statuette imports in Nigeria.
