ECOWAS: Spectacle Frame Market 2024

Spectacle Frame Market Size in ECOWAS

The ECOWAS spectacle frame market reached $X in 2022, approximately reflecting the previous year. The total consumption indicated a perceptible expansion 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 increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Spectacle Frame Production in ECOWAS

In value terms, spectacle frame production reduced to $X in 2022 estimated in export price. The total production indicated a moderate 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 appeared the most rapid in 2015 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Spectacle Frame Exports

Exports in ECOWAS

Spectacle frame exports surged to X units in 2022, rising by X% compared with 2021. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2019 with an increase of X%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, spectacle frame exports skyrocketed to $X in 2022. Overall, exports posted buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Benin was the key exporting country with an export of around X units, which accounted for X% of total exports. Cote d'Ivoire (X units) held the second position in the ranking, followed by Liberia (X units), Sierra Leone (X units) and Guinea (X units). All these countries together took near X% share of total exports. Ghana (X units) followed a long way behind the leaders.

Benin was also the fastest-growing in terms of the frames and mountings for spectacles, goggles or the like exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Liberia (X%) and Guinea (X%) displayed positive paces of growth. Sierra Leone experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Benin (X p.p.), Liberia (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Guinea (X p.p.), Ghana (X p.p.) and Sierra Leone (X p.p.) displayed negative dynamics.

In value terms, Benin ($X) emerged as the largest spectacle frame supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Sierra Leone, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Benin stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Sierra Leone (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, rising by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, 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 Ghana ($X per unit), while Liberia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the export price figures.

Spectacle Frame Imports

Imports in ECOWAS

In 2022, approx. X units of frames and mountings for spectacles, goggles or the like were imported in ECOWAS; rising by X% against the previous year's figure. In general, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, spectacle frame imports soared to $X in 2022. Over the period under review, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, recording X units, which was approx. X% of total imports in 2022. Senegal (X units) took a relatively small share of total imports.

Nigeria was also the fastest-growing in terms of the frames and mountings for spectacles, goggles or the like imports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported frames and mountings for spectacles, goggles or the like in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, falling by X% against the previous year. Over the period under review, the import price saw a abrupt downturn. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat 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 Senegal ($X per unit), while Nigeria totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Source: IndexBox Platform