ECOWAS: Twig Broom Market 2024

Twig Broom Market Size in ECOWAS

After three years of decline, the ECOWAS twig broom market increased by 16% to $X in 2021. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Twig Broom Production in ECOWAS

In value terms, twig broom production fell to $X in 2021 estimated in export price. Over the period under review, production recorded a mild decline. The growth pace was the most rapid in 2017 when the production volume increased by 47% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Twig Broom Exports

Exports in ECOWAS

Twig broom exports fell notably to X units in 2021, shrinking by -51.6% compared with 2020 figures. In general, exports continue to indicate a pronounced contraction. The growth pace was the most rapid in 2019 with an increase of 86% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, twig broom exports contracted notably to $X in 2021. Overall, exports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 72%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of brooms and brushes of twigs, namely Cote d'Ivoire, Nigeria and Togo, represented more than two-thirds of total export. It was distantly followed by Ghana (X units), mixing up an 8% share of total exports. Mali (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Nigeria (with a CAGR of +42.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest twig broom supplying countries in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Togo ($X), together accounting for 75% of total exports.

In terms of the main exporting countries, Togo, with a CAGR of +23.6%, recorded the highest growth rate of 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

The export price in ECOWAS stood at $X per unit in 2021, which is down by -22.5% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 36% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Nigeria ($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 (+9.1%), while the other leaders experienced more modest paces of growth.

Twig Broom Imports

Imports in ECOWAS

In 2021, supplies from abroad of brooms and brushes of twigs was finally on the rise to reach X units after five years of decline. In general, imports recorded a perceptible expansion. The pace of growth was the most pronounced in 2014 when imports increased by 91%. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, twig broom imports surged to $X in 2021. Over the period under review, imports recorded prominent growth. The pace of growth was the most pronounced in 2014 when imports increased by 90% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Nigeria (X units), Senegal (X units), Togo (X units) and Ghana (X units) represented the main importer of brooms and brushes of twigs in ECOWAS, constituting 79% of total import. Gambia (X units) took a 7% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (4.7%). Cabo Verde (X units) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Gambia (with a CAGR of +38.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest twig broom importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Togo ($X), with a combined 77% share of total imports.

In terms of the main importing countries, Togo, with a CAGR of +46.5%, 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 import price in ECOWAS stood at $X per unit in 2021, rising by 23% against the previous year. Import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, twig broom import price increased by +89.6% against 2016 indices. The growth pace was the most rapid in 2018 when the import price increased by 32%. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Cabo Verde ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform