ECOWAS: Direction Finding Compass Market 2025

Direction Finding Compass Market Size in ECOWAS

For the fourth consecutive year, the ECOWAS direction finding compass market recorded decline in sales value, which decreased by -20.5% to $X in 2021. In general, consumption continues to indicate a deep slump. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Direction Finding Compass Production in ECOWAS

In value terms, direction finding compass production totaled $X in 2021 estimated in export price. In general, production, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 6,149%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Direction Finding Compass Exports

Exports in ECOWAS

After two years of decline, overseas shipments of direction finding compasses increased by 15% to X units in 2021. In general, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 10,390% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, direction finding compass exports skyrocketed to $X in 2021. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,429%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Guinea (X units) was the main exporter of direction finding compasses, creating 53% of total exports. Ghana (X units) took the second position in the ranking, followed by Cote d'Ivoire (X units) and Nigeria (X units). All these countries together took approx. 38% share of total exports. The following exporters - Senegal (X units), Burkina Faso (X units) and Togo (X units) - together made up 8.8% of total exports.

Guinea was also the fastest-growing in terms of the direction finding compasses exports, with a CAGR of +66.8% from 2012 to 2021. At the same time, Burkina Faso (+48.9%), Ghana (+29.0%), Senegal (+16.7%), Nigeria (+16.5%) and Togo (+9.1%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-6.8%) illustrated a downward trend over the same period. Guinea (+52 p.p.), Ghana (+11 p.p.), Burkina Faso (+2.5 p.p.) and Nigeria (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -63.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest direction finding compass supplying countries in ECOWAS were Guinea ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined 88% share of total exports.

Guinea, with a CAGR of +93.2%, saw the highest growth rate of the value of exports, among the main exporting countries 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, increasing by 21% against the previous year. In general, the export price recorded prominent growth. The growth pace was the most rapid in 2015 an increase of 149% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+38.7%), while the other leaders experienced more modest paces of growth.

Direction Finding Compass Imports

Imports in ECOWAS

Direction finding compass imports contracted remarkably to X units in 2021, waning by -19.9% on the previous year's figure. In general, imports recorded a deep reduction. The growth pace was the most rapid in 2013 when imports increased by 140% against the previous year. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, direction finding compass imports declined to $X in 2021. Overall, imports, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2013 with an increase of 248%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Senegal (X units) and Gambia (X units) were the key importers of direction finding compasses in ECOWAS, together comprising 61% of total imports. Liberia (X units) ranks next in terms of the total imports with a 13% share, followed by Nigeria (12%). Guinea (X units), Sierra Leone (X units) and Mali (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Senegal (with a CAGR of +56.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Senegal ($X) and Liberia ($X) constituted the countries with the highest levels of imports in 2021, together comprising 75% of total imports.

Senegal, with a CAGR of +43.7%, saw the highest growth rate of 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, surging by 15% against the previous year. Overall, the import price enjoyed a significant expansion. The pace of growth was the most pronounced in 2015 when the import price increased by 260%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+53.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform