ECOWAS: Market for Electronic Instruments And Machines For Measuring Geometrical Quantities 2025

Market Size for Electronic Instruments And Machines For Measuring Geometrical Quantities in ECOWAS

The ECOWAS geometrical quantities electronic measurer market soared to $X in 2022, increasing by 34% against the previous year. In general, consumption enjoyed a significant increase. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Electronic Instruments And Machines For Measuring Geometrical Quantities in ECOWAS

In value terms, geometrical quantities electronic measurer production dropped to $X in 2022 estimated in export price. Overall, production showed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 57%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Exports in ECOWAS

In 2022, exports of electronic instruments and machines for measuring geometrical quantities in ECOWAS contracted to X units, shrinking by -5.7% on the previous year. In general, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 121%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, geometrical quantities electronic measurer exports amounted to $X in 2022. Over the period under review, exports recorded a deep downturn. The growth pace was the most rapid in 2015 with an increase of 104% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of electronic instruments and machines for measuring geometrical quantities, namely Ghana, Cote d'Ivoire and Nigeria, represented more than two-thirds of total export. Sierra Leone (X units) ranks next in terms of the total exports with an 11% share, followed by Burkina Faso (7.5%). Cabo Verde (X units) and Senegal (X units) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +18.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest geometrical quantities electronic measurer supplying countries in ECOWAS were Nigeria ($X), Sierra Leone ($X) and Cote d'Ivoire ($X), with a combined 65% share of total exports.

Cote d'Ivoire, with a CAGR of +20.6%, 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

In 2022, the export price in ECOWAS amounted to $X per unit, picking up by 9.1% against the previous year. Export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, geometrical quantities electronic measurer export price increased by +52.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 39%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+20.6%), while the other leaders experienced more modest paces of growth.

Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Imports in ECOWAS

In 2022, the amount of electronic instruments and machines for measuring geometrical quantities imported in ECOWAS surged to X units, with an increase of 38% compared with 2021 figures. In general, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 with an increase of 252% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, geometrical quantities electronic measurer imports skyrocketed to $X in 2022. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 222% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Nigeria prevails in imports structure, recording X units, which was approx. 86% of total imports in 2022. It was distantly followed by Niger (X units), making up a 5% share of total imports. The following importers - Ghana (X units) and Cote d'Ivoire (X units) - together made up 5.6% of total imports.

Nigeria was also the fastest-growing in terms of the electronic instruments and machines for measuring geometrical quantities imports, with a CAGR of +47.4% from 2012 to 2022. At the same time, Cote d'Ivoire (+16.7%), Niger (+9.8%) and Ghana (+6.3%) displayed positive paces of growth. While the share of Nigeria (+62 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (-3.3 p.p.), Niger (-21.1 p.p.) and Ghana (-23.9 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported electronic instruments and machines for measuring geometrical quantities in ECOWAS, comprising 94% of total imports. The second position in the ranking was held by Ghana ($X), with a 2% share of total imports. It was followed by Niger, with a 1% share.

In Nigeria, geometrical quantities electronic measurer imports expanded at an average annual rate of +45.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+3.9% per year) and Niger (+6.6% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, increasing by 17% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, geometrical quantities electronic measurer import price decreased by -29.9% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the import price increased by 35%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the 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 Nigeria ($X per unit), while Niger ($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 (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform