Updated Dec 9, 2022 15:27

Pig Iron Market in Nigeria

Market Structure
Over the period under review, imports of pig iron in Nigeria were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for pig iron. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.

Trade Balance
Nigeria remains a net importer of pig iron; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $.