ECOWAS: Base Metal Clasp Market 2025

Base Metal Clasp Market Size in ECOWAS

The ECOWAS base metal clasp market fell to $X in 2022, which is down by X% against the previous year. Overall, consumption continues to indicate a deep contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Base Metal Clasp Production in ECOWAS

In value terms, base metal clasp production fell to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Base Metal Clasp Exports

Exports in ECOWAS

For the fourth year in a row, ECOWAS recorded decline in shipments abroad of articles such as clasps, frames with clasps, parts of base metal, which decreased by X% to X kg in 2022. Overall, exports faced a abrupt decrease. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, base metal clasp exports skyrocketed to $X in 2022. Over the period under review, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Ghana was the key exporter of articles such as clasps, frames with clasps, parts of base metal in ECOWAS, with the volume of exports resulting at X kg, which was near X% of total exports in 2022. Benin (X kg) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (X%). Mali (X kg) and Burkina Faso (X kg) followed a long way behind the leaders.

Exports from Ghana decreased at an average annual rate of X% from 2012 to 2022. At the same time, Benin (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Gambia experienced a relatively flat trend pattern. By contrast, Mali (X%) and Burkina Faso (X%) illustrated a downward trend over the same period. While the share of Benin (X p.p.), Gambia (X p.p.), Ghana (X p.p.), Mali (X p.p.) and Burkina Faso (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest base metal clasp supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Gambia ($X), with a X% share of total exports. It was followed by Benin, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Gambia (X% per year) and Benin (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, growing by X% against the previous year. Overall, the export price saw a resilient expansion. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Gambia ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced mixed trends in the export price figures.

Base Metal Clasp Imports

Imports in ECOWAS

In 2022, overseas purchases of articles such as clasps, frames with clasps, parts of base metal decreased by X% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports showed a deep setback. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal clasp imports surged to $X in 2022. In general, imports recorded a dramatic contraction. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the largest importer of articles such as clasps, frames with clasps, parts of base metal, generating X% of total imports. Senegal (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Ghana (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Sierra Leone (X%), Senegal (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Senegal (X p.p.), Cote d'Ivoire (X p.p.), Ghana (X p.p.) and Sierra Leone (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported articles such as clasps, frames with clasps, parts of base metal in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, base metal clasp imports shrank by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, saw a deep setback. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform