ECOWAS: Colloidal Precious Metals Market 2024

Colloidal Precious Metals Market Size in ECOWAS

The ECOWAS colloidal precious metals market amounted to $X in 2022, growing by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Colloidal Precious Metals Production in ECOWAS

In value terms, colloidal precious metals production rose to $X in 2022 estimated in export price. In general, production posted buoyant growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Colloidal Precious Metals Exports

Exports in ECOWAS

For the fifth year in a row, ECOWAS recorded growth in shipments abroad of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), which increased by X% to X tons in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, colloidal precious metals exports expanded notably to $X in 2022. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2019 with an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

The shipments of the one major exporters of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), namely Ghana, represented more than two-thirds of total export.

Ghana was also the fastest-growing in terms of the colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) exports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of Ghana increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) also remains the largest colloidal precious metals supplier in ECOWAS.

In Ghana, colloidal precious metals exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, showed a precipitous descent. The growth pace was the most rapid in 2014 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X,489 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to X% per year.

Colloidal Precious Metals Imports

Imports in ECOWAS

In 2022, overseas purchases of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) decreased by X% to X kg, falling for the fourth year in a row after four years of growth. Overall, imports faced a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, colloidal precious metals imports contracted significantly to $X in 2022. Over the period under review, imports showed a abrupt setback. The pace of growth was the most pronounced in 2015 when imports increased by X%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Cote d'Ivoire (X kg), distantly followed by Ghana (X kg), Burkina Faso (X kg), Cabo Verde (X kg) and Mali (X kg) were the major importers of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), together committing X% of total imports. The following importers - Benin (X kg) and Senegal (X kg) - each recorded a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest colloidal precious metals importing markets in ECOWAS were Ghana ($X), Mali ($X) and Burkina Faso ($X), with a combined X% share of total imports.

In terms of the main importing countries, Mali, with a CAGR of X%, 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

In 2022, the import price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price saw a noticeable contraction. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum 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 importing countries. In 2022, amid the top importers, the country with the highest price was Mali ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform