Cote d'Ivoire: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Cote d'Ivoire

In 2022, after two years of growth, there was significant decline in the Cote d'Ivoire's steel and iron articles market, when its value decreased by -19.5% to $X. Overall, consumption, however, enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2021, and then contracted significantly in the following year.

Exports of Articles Of Iron Or Steel

Exports from Cote d'Ivoire

In 2022, steel and iron articles exports from Cote d'Ivoire shrank to X tons, dropping by -11.9% on the previous year. Overall, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,635% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, steel and iron articles exports declined sharply to $X in 2022. In general, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,589%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana (X tons), Senegal (X tons) and Burkina Faso (X tons) were the main destinations of steel and iron articles exports from Cote d'Ivoire, with a combined 25% share of total exports. Niger, the UK, Togo, Guinea, Spain, Mali, France and Nigeria lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +193.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel and iron articles exported from Cote d'Ivoire were the UK ($X), Ghana ($X) and Niger ($X), with a combined 51% share of total exports. Senegal, Burkina Faso, Spain, Nigeria, Mali, Guinea, Togo and France lagged somewhat behind, together comprising a further 25%.

Among the main countries of destination, Nigeria, with a CAGR of +121.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel and iron articles export price amounted to $X per ton, shrinking by -6.4% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when the average export price increased by 27% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (-1.5%), while the prices for the other major destinations experienced a decline.

Imports of Articles Of Iron Or Steel

Imports into Cote d'Ivoire

After two years of growth, supplies from abroad of articles of iron or steel decreased by -19.5% to X tons in 2022. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 196%. Imports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, steel and iron articles imports declined sharply to $X in 2022. In general, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 251% against the previous year. Imports peaked at $X in 2021, and then shrank markedly in the following year.

Imports by Country

China (X tons), France (X tons) and Malaysia (X tons) were the main suppliers of steel and iron articles imports to Cote d'Ivoire, with a combined 62% share of total imports. Morocco, Turkey, Indonesia, Portugal, Spain, South Africa, Belgium, Lebanon, Italy and the United States lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +81.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), France ($X) and Malaysia ($X) constituted the largest steel and iron articles suppliers to Cote d'Ivoire, together accounting for 55% of total imports. Morocco, the United States, Portugal, Spain, South Africa, Turkey, Italy, Indonesia, Belgium and Lebanon lagged somewhat behind, together accounting for a further 28%.

Among the main suppliers, Morocco, with a CAGR of +58.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel and iron articles import price stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the import price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2019 an increase of 29%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform