ECOWAS: Toy Market 2024

Toy Market Size in ECOWAS

The ECOWAS toy market shrank to $X in 2021, with a decrease of -8.4% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +12.0% against 2019 indices. The level of consumption peaked at $X in 2020, and then declined in the following year.

Toy Production in ECOWAS

In value terms, toy production declined to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +12.0% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 27% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Toy Exports

Exports in ECOWAS

In 2021, the amount of dolls and toys exported in ECOWAS shrank markedly to X tons, waning by -33.2% compared with the previous year's figure. Over the period under review, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 92%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, toy exports skyrocketed to $X in 2021. Overall, exports showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 63% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ghana was the largest exporting country with an export of about X tons, which recorded 40% of total exports. It was distantly followed by Cabo Verde (X tons), Senegal (X tons), Nigeria (X tons), Mali (X tons) and Cote d'Ivoire (X tons), together comprising a 51% share of total exports. Niger (X tons) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the dolls and toys exports, with a CAGR of +18.1% from 2012 to 2021. At the same time, Senegal (+14.8%), Mali (+9.6%), Cabo Verde (+3.2%) and Niger (+2.5%) displayed positive paces of growth. By contrast, Nigeria (-3.0%) and Cote d'Ivoire (-21.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Senegal, Cabo Verde and Mali increased by +34, +11, +6.5 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Mali ($X) and Cabo Verde ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 66% of total exports.

Mali, with a CAGR of +40.1%, saw the highest rates of growth with regard to the value of exports, in terms of 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 ton in 2021, growing by 74% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mali ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+27.9%), while the other leaders experienced more modest paces of growth.

Toy Imports

Imports in ECOWAS

In 2021, supplies from abroad of dolls and toys increased by 8.1% to X tons, rising for the sixth year in a row after two years of decline. Overall, imports enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, toy imports skyrocketed to $X in 2021. Over the period under review, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Nigeria (X tons), Cote d'Ivoire (X tons) and Ghana (X tons) was the main importer of dolls and toys in ECOWAS, committing 62% of total import. It was distantly followed by Senegal (X tons), Mali (X tons), Togo (X tons) and Guinea (X tons), together comprising a 28% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mali (with a CAGR of +43.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest toy importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), together accounting for 74% of total imports.

Ghana, with a CAGR of +36.0%, 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

In 2021, the import price in ECOWAS amounted to $X per ton, jumping by 40% against the previous year. In general, the import price enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2014 when the import price increased by 110%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform