ECOWAS: Graphic Papers Market 2024

Graphic Papers Market Size in ECOWAS

In 2022, the ECOWAS graphic papers market increased by 57% to $X, rising for the sixth year in a row after three years of decline. Overall, consumption saw prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Graphic Papers Production in ECOWAS

In value terms, graphic papers production shrank rapidly to $X in 2022 estimated in export price. In general, production continues to indicate a dramatic descent. The growth pace was the most rapid in 2018 when the production volume increased by 7,638,380%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Graphic Papers Exports

Exports in ECOWAS

In 2022, overseas shipments of graphic papers decreased by -15.2% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 69% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced remarkably in the following year.

In value terms, graphic papers exports shrank notably to $X in 2022. Overall, exports showed a noticeable contraction. The pace of growth appeared the most rapid in 2021 with an increase of 47%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana dominates exports structure, resulting at X tons, which was approx. 85% of total exports in 2022. It was distantly followed by Sierra Leone (X tons), generating a 5% share of total exports. Nigeria (X tons), Togo (X tons) and Senegal (X tons) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the graphic papers exports, with a CAGR of +11.1% from 2012 to 2022. At the same time, Sierra Leone (+3.0%) displayed positive paces of growth. By contrast, Togo (-3.8%), Nigeria (-6.4%) and Senegal (-7.7%) illustrated a downward trend over the same period. Ghana (+56 p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Nigeria saw its share reduced by -3% and -3.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest graphic papers supplier in ECOWAS, comprising 77% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with an 8.6% share of total exports. It was followed by Nigeria, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value in Ghana amounted to +1.3%. In the other countries, the average annual rates were as follows: Sierra Leone (+3.6% per year) and Nigeria (-10.1% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, approximately reflecting the previous year. In general, the export price saw a pronounced descent. The most prominent rate of growth was recorded in 2018 when the export price increased by 12%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+1.6%), while the other leaders experienced more modest paces of growth.

Graphic Papers Imports

Imports in ECOWAS

In 2022, supplies from abroad of graphic papers increased by 36% to X tons, rising for the sixth consecutive year after three years of decline. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +105.9% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, graphic papers imports surged to $X in 2022. In general, imports enjoyed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, recording X tons, which was approx. 80% of total imports in 2022. It was distantly followed by Ghana (X tons) and Cote d'Ivoire (X tons), together making up a 14% share of total imports.

Nigeria was also the fastest-growing in terms of the graphic papers imports, with a CAGR of +8.8% from 2012 to 2022. At the same time, Cote d'Ivoire (+6.0%) and Ghana (+2.3%) displayed positive paces of growth. While the share of Nigeria (+11 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (-5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported graphic papers in ECOWAS, comprising 86% of total imports. The second position in the ranking was taken by Ghana ($X), with a 5.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at +10.1%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+1.1% per year) and Cote d'Ivoire (+4.5% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with an increase of 16% against the previous year. In general, the import price continues to indicate modest growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform