ECOWAS: Electronic Chip Market 2025

Electronic Chip Market Size in ECOWAS

The ECOWAS electronic chip market rose slightly to $X in 2021, growing by 1.7% against the previous year. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.7% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Electronic Chip Production in ECOWAS

In value terms, electronic chip production stood at $X in 2021 estimated in export price. Overall, production saw a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 14%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Electronic Chip Exports

Exports in ECOWAS

Electronic chip exports surged to X units in 2021, jumping by 601% on 2020. Overall, exports, however, saw a sharp shrinkage. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, electronic chip exports skyrocketed to $X in 2021. In general, exports showed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Guinea represented the major exporter of electronic chips in ECOWAS, with the volume of exports resulting at X units, which was approx. 75% of total exports in 2021. It was distantly followed by Nigeria (X units), creating a 17% share of total exports. The following exporters - Togo (X units) and Mali (X units) - together made up 5.5% of total exports.

Guinea was also the fastest-growing in terms of the electronic chips exports, with a CAGR of +89.3% from 2012 to 2021. At the same time, Togo (+36.9%) and Nigeria (+32.9%) displayed positive paces of growth. By contrast, Mali (-3.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Guinea, Nigeria, Togo and Mali increased by +75, +17, +3.3 and +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electronic chip supplying countries in ECOWAS were Guinea ($X), Mali ($X) and Togo ($X), together comprising 80% of total exports.

Among the main exporting countries, Guinea, with a CAGR of +63.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to less than $X per unit, waning by -49.8% against the previous year. Over the period under review, the export price, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 798,307%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+18.1%), while the other leaders experienced a decline in the export price figures.

Electronic Chip Imports

Imports in ECOWAS

In 2021, overseas purchases of electronic chips increased by 9.9% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, imports saw a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 77%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, electronic chip imports shrank sharply to $X in 2021. Overall, imports posted strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 111%. As a result, imports reached the peak of $X, and then dropped dramatically in the following year.

Imports by Country

Nigeria prevails in imports structure, reaching X units, which was approx. 91% of total imports in 2021. The following importers - Burkina Faso (X units) and Ghana (X units) - each finished at a 6.7% share of total imports.

Nigeria was also the fastest-growing in terms of the electronic chips imports, with a CAGR of +34.3% from 2012 to 2021. Burkina Faso (-1.4%) and Ghana (-3.6%) illustrated a downward trend over the same period. Nigeria (+60 p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso and Ghana saw its share reduced by -15.5% and -18.6% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported electronic chips in ECOWAS, comprising 79% of total imports. The second position in the ranking was taken by Ghana ($X), with a 15% share of total imports.

In Nigeria, electronic chip imports expanded at an average annual rate of +32.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+8.3% per year) and Burkina Faso (+2.2% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, declining by -31.6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 32%. Over the period under review, import prices attained the maximum at $X per unit in 2020, and then shrank significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+12.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform