ECOWAS: Agricultural Appliance Market 2025

Agricultural Appliance Market Size in ECOWAS

In 2021, the ECOWAS agricultural appliance market decreased by -80.8% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption recorded a abrupt decrease. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Agricultural Appliance Production in ECOWAS

In value terms, agricultural appliance production dropped to $X in 2021 estimated in export price. Overall, production, however, posted a significant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 305%. The level of production peaked at $X in 2020, and then shrank in the following year.

Agricultural Appliance Exports

Exports in ECOWAS

In 2021, the amount of agricultural appliances exported in ECOWAS surged to X units, growing by 758% against the previous year's figure. Over the period under review, exports continue to indicate a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, agricultural appliance exports soared to $X in 2021. In general, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 132% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria dominates exports structure, reaching X units, which was near 95% of total exports in 2021. It was distantly followed by Ghana (X units), achieving a 4.7% share of total exports.

Nigeria was also the fastest-growing in terms of the agricultural appliances exports, with a CAGR of +44.2% from 2012 to 2021. At the same time, Ghana (+24.2%) displayed positive paces of growth. From 2012 to 2021, the share of Nigeria and Ghana increased by +84 and +2.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) and Ghana ($X) were the countries with the highest levels of exports in 2021.

Ghana, with a CAGR of +19.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, shrinking by -83.5% against the previous year. Over the period under review, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2015 when the export price increased by 42%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per unit), while Nigeria stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-3.7%).

Agricultural Appliance Imports

Imports in ECOWAS

In 2021, overseas purchases of agricultural appliances decreased by -88% to X units, falling for the second year in a row after four years of growth. In general, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 when imports increased by 114% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, agricultural appliance imports shrank sharply to $X in 2021. Over the period under review, imports showed a deep slump. The pace of growth was the most pronounced in 2019 with an increase of 83%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the largest importing country with an import of about X units, which reached 65% of total imports. Senegal (X units) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (13%). The following importers - Niger (X units), Ghana (X units) and Guinea (X units) - each accounted for a 5.6% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to agricultural appliance imports into Nigeria stood at -8.5%. At the same time, Niger (+26.5%), Guinea (+9.5%) and Senegal (+2.0%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +26.5% from 2012-2021. By contrast, Cote d'Ivoire (-3.7%) and Ghana (-32.1%) illustrated a downward trend over the same period. Senegal (+9.7 p.p.), Nigeria (+6.2 p.p.), Cote d'Ivoire (+5.5 p.p.) and Niger (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -21.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2021, with a combined 87% share of total imports. These countries were followed by Guinea, Ghana and Niger, which together accounted for a further 9.2%.

Niger, with a CAGR of +12.2%, recorded the highest rates of growth with regard to the value of imports, among 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 ECOWAS stood at $X per unit in 2021, growing by 51% against the previous year. Over the period under review, the import price, however, saw a slight shrinkage. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Guinea ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform