ECOWAS: Domestic Electro-Thermic Appliances Market 2024

Domestic Electro-Thermic Appliances Market Size in ECOWAS

The ECOWAS domestic electro-thermic appliances market fell to $X in 2022, which is down by X% against the previous year. The total consumption indicated pronounced growth 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Domestic Electro-Thermic Appliances Production in ECOWAS

In value terms, domestic electro-thermic appliances production contracted modestly to $X in 2022 estimated in export price. The total production indicated a notable increase 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 was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Domestic Electro-Thermic Appliances Exports

Exports in ECOWAS

In 2022, approx. X units of domestic electro-thermic appliances were exported in ECOWAS; surging by X% compared with the previous year. Over the period under review, exports showed a slight expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, domestic electro-thermic appliances exports skyrocketed to $X in 2022. Total exports indicated measured growth 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, exports decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Ghana (X units) represented the largest exporter of domestic electro-thermic appliances, comprising X% of total exports. Sierra Leone (X units) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%), Senegal (X%), Cote d'Ivoire (X%) and Liberia (X%). Mali (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to domestic electro-thermic appliances exports from Ghana stood at X%. At the same time, Liberia (X%), Mali (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%), Sierra Leone (X%) and Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Nigeria (X p.p.), Liberia (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Sierra Leone saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest domestic electro-thermic appliances supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Sierra Leone totaled X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, reducing by X% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price 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, domestic electro-thermic appliances export price increased by X% against 2015 indices. The growth pace was the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then declined notably in the following year.

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 Sierra Leone ($X per unit), while Liberia ($X per unit) was amongst the lowest.

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

Domestic Electro-Thermic Appliances Imports

Imports in ECOWAS

In 2022, purchases abroad of domestic electro-thermic appliances increased by X% to X units, rising for the fifth year in a row after four years of decline. Over the period under review, imports recorded prominent growth. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, domestic electro-thermic appliances imports shrank modestly to $X in 2022. In general, imports showed a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Ghana (X units) was the main importer of domestic electro-thermic appliances, mixing up X% of total imports. It was distantly followed by Nigeria (X units), Guinea (X units) and Senegal (X units), together creating a X% share of total imports. Cote d'Ivoire (X units), Liberia (X units) and Sierra Leone (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to domestic electro-thermic appliances imports into Ghana stood at X%. At the same time, Guinea (X%), Liberia (X%), Sierra Leone (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Guinea (X p.p.), Senegal (X p.p.), Liberia (X p.p.) and Sierra Leone (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Guinea ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

In terms of the main importing countries, Guinea, with a CAGR of X%, recorded the highest growth rate of 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 unit, dropping by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices failed to regain momentum.

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 Nigeria ($X per unit), while Ghana ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform