Africa: Accordion Market 2024

Accordion Market Size in Africa

The African accordion market shrank significantly to $X in 2021, declining by -17.1% against the previous year. Over the period under review, consumption, however, saw a drastic downturn. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Accordion Production in Africa

In value terms, accordion production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 20% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Accordion Exports

Exports in Africa

In 2021, shipments abroad of accordions and mouth organs decreased by less than 0.1% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, exports saw a perceptible decline. The pace of growth appeared the most rapid in 2017 with an increase of 65% against the previous year. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, accordion exports skyrocketed to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 75% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from South Africa (X units), Cote d'Ivoire (X units), Morocco (X units), Mozambique (X units), Rwanda (X units), Tunisia (X units), Cameroon (X units) and Botswana (X units), together resulting at 79% of total export. Nigeria (X units), Togo (X units), Ethiopia (X units), Senegal (X units) and Burkina Faso (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Botswana (with a CAGR of +51.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the largest accordion supplier in Africa, comprising 66% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 13% share of total exports. It was followed by Rwanda, with a 3.9% share.

In South Africa, accordion exports increased at an average annual rate of +5.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+55.0% per year) and Rwanda (-10.8% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2021, jumping by 39% against the previous year. Export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the export price increased by 41%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Morocco ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+12.5%), while the other leaders experienced more modest paces of growth.

Accordion Imports

Imports in Africa

In 2021, the amount of accordions and mouth organs imported in Africa skyrocketed to X units, with an increase of 18% against the year before. In general, imports, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2019 with an increase of 174% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, accordion imports declined to $X in 2021. Overall, imports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2016 when imports increased by 63% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Angola (X units) and Cote d'Ivoire (X units) represented the main importers of accordions and mouth organs in 2021, reaching approx. 24% and 23% of total imports, respectively. South Africa (X units) ranks next in terms of the total imports with an 11% share, followed by Morocco (6.7%) and Botswana (5.8%). The following importers - Equatorial Guinea (X units), Kenya (X units), Nigeria (X units), Tanzania (X units), Ghana (X units), Rwanda (X units), Mauritius (X units) and Namibia (X units) - together made up 21% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Tanzania (with a CAGR of +42.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest accordion importing markets in Africa were South Africa ($X), Kenya ($X) and Cote d'Ivoire ($X), together comprising 56% of total imports.

Cote d'Ivoire, with a CAGR of +31.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per unit in 2021, with a decrease of -21.8% against the previous year. In general, the import price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2017 an increase of 137% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kenya ($X per unit), while Angola ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Rwanda (+23.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :