ECOWAS: Optical Radiation Instruments Market 2025

Optical Radiation Instruments Market Size in ECOWAS

The ECOWAS optical radiation instruments market surged to $X in 2022, increasing by 18% against the previous year. In general, consumption enjoyed a strong expansion. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Optical Radiation Instruments Production in ECOWAS

In value terms, optical radiation instruments production totaled $X in 2022 estimated in export price. In general, production saw a prominent increase. The growth pace was the most rapid in 2018 with an increase of 74% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Optical Radiation Instruments Exports

Exports in ECOWAS

After three years of decline, shipments abroad of instruments using optical radiations increased by 154% to X units in 2022. Over the period under review, exports continue to indicate buoyant growth. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, optical radiation instruments exports declined to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 62% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Liberia (X units) represented the major exporter of instruments using optical radiations, comprising 56% of total exports. Nigeria (X units) took the second position in the ranking, distantly followed by Cote d'Ivoire (X units) and Senegal (X units). All these countries together held near 32% share of total exports. The following exporters - Mali (X units), Ghana (X units) and Togo (X units) - together made up 7.7% of total exports.

Liberia was also the fastest-growing in terms of the instruments using optical radiations exports, with a CAGR of +114.7% from 2012 to 2022. At the same time, Mali (+12.9%), Senegal (+11.5%) and Togo (+5.5%) displayed positive paces of growth. By contrast, Ghana (-2.7%), Cote d'Ivoire (-3.4%) and Nigeria (-4.5%) illustrated a downward trend over the same period. While the share of Liberia (+56 p.p.) and Senegal (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-3.7 p.p.), Cote d'Ivoire (-7.6 p.p.) and Nigeria (-40 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest optical radiation instruments supplier in ECOWAS, comprising 59% of total exports. The second position in the ranking was held by Senegal ($X), with an 11% share of total exports. It was followed by Ghana, with a 6.4% share.

In Nigeria, optical radiation instruments exports expanded at an average annual rate of +2.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+10.2% per year) and Ghana (-0.8% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, dropping by -65.6% against the previous year. Overall, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 85%. As a result, the export price reached the peak level of $X per unit. From 2020 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 Nigeria ($X per unit), while Liberia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+7.1%), while the other leaders experienced more modest paces of growth.

Optical Radiation Instruments Imports

Imports in ECOWAS

In 2022, approx. X units of instruments using optical radiations were imported in ECOWAS; picking up by 23% compared with the year before. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 79% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, optical radiation instruments imports rose sharply to $X in 2022. Over the period under review, imports posted prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by 53% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria was the key importer of instruments using optical radiations in ECOWAS, with the volume of imports reaching X units, which was approx. 43% of total imports in 2022. It was distantly followed by Ghana (X units), Cote d'Ivoire (X units), Mali (X units) and Senegal (X units), together making up a 42% share of total imports. Togo (X units), Burkina Faso (X units) and Benin (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +49.3% from 2012 to 2022. At the same time, Mali (+64.1%), Cote d'Ivoire (+24.9%), Senegal (+21.5%), Togo (+20.1%), Burkina Faso (+13.1%), Benin (+10.7%) and Ghana (+5.5%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +64.1% from 2012-2022. Nigeria (+38 p.p.), Mali (+8.5 p.p.) and Cote d'Ivoire (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso, Benin and Ghana saw its share reduced by -2%, -2.5% and -41% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest optical radiation instruments importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for 62% of total imports. Senegal, Mali, Togo, Benin and Burkina Faso lagged somewhat behind, together accounting for a further 26%.

Among the main importing countries, Mali, with a CAGR of +52.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, shrinking by -9.4% against the previous year. Over the period under review, the import price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2015 an increase of 16% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform