ECOWAS: Skates Market 2024

Skates Market Size in ECOWAS

The ECOWAS skates market expanded sharply to $X in 2021, increasing by 6.3% against the previous year. In general, consumption, however, recorded a abrupt descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Skates Production in ECOWAS

In value terms, skates production expanded notably to $X in 2021 estimated in export price. In general, production, however, saw a perceptible decline. The pace of growth was the most pronounced in 2016 when the production volume increased by 11%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Skates Exports

Exports in ECOWAS

In 2021, after two years of decline, there was significant growth in overseas shipments of ice skates and roller skates, when their volume increased by 800% to X kg. In general, exports recorded a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 16,585%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, skates exports soared to $X in 2021. Overall, exports, however, recorded a mild slump. The pace of growth was the most pronounced in 2018 when exports increased by 3,241% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Burkina Faso dominates exports structure, amounting to X kg, which was approx. 92% of total exports in 2021. The following exporters - Togo (X kg) and Niger (X kg) - together made up 6.2% of total exports.

Exports from Burkina Faso increased at an average annual rate of +5.8% from 2012 to 2021. At the same time, Togo (+20.0%) and Niger (+4.6%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +20.0% from 2012-2021. While the share of Burkina Faso (+92 p.p.) and Togo (+4.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) emerged as the largest skates supplier in ECOWAS, comprising 77% of total exports. The second position in the ranking was taken by Togo ($X), with a 15% share of total exports.

In Burkina Faso, skates exports decreased by an average annual rate of -17.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+19.7% per year) and Niger (+1.2% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, with a decrease of -54.7% against the previous year. Over the period under review, the export price recorded a deep reduction. The growth pace was the most rapid in 2019 an increase of 563%. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 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, the country with the highest price was Togo ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-0.2%), while the other leaders experienced a decline in the export price figures.

Skates Imports

Imports in ECOWAS

In 2021, overseas purchases of ice skates and roller skates increased by 41% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, saw a dramatic setback. The pace of growth was the most pronounced in 2017 with an increase of 57%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, skates imports rose rapidly to $X in 2021. In general, imports, however, continue to indicate a precipitous contraction. The pace of growth appeared the most rapid in 2017 with an increase of 10%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Cote d'Ivoire (X tons) and Senegal (X tons) represented the major importers of ice skates and roller skates in ECOWAS, together achieving 73% of total imports. Benin (X tons) ranks next in terms of the total imports with an 11% share, followed by Ghana (7%). Cabo Verde (X kg) and Gambia (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +25.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Benin ($X) were the countries with the highest levels of imports in 2021, with a combined 85% share of total imports.

Senegal, with a CAGR of +34.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, waning by -22.1% against the previous year. Overall, the import price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when the import price increased by 33% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Benin ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform