ECOWAS: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2025

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports in ECOWAS

In 2022, the amount of iron or steel gas domestic cooking appliances and plate warmers exported in ECOWAS surged to X units, rising by 39% against the year before. Overall, exports, however, saw a deep setback. The growth pace was the most rapid in 2020 when exports increased by 153%. Over the period under review, the exports of attained the maximum at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers rose rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 220%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal represented the largest exporter of iron or steel gas domestic cooking appliances and plate warmers in ECOWAS, with the volume of exports resulting at X units, which was approx. 58% of total exports in 2022. Nigeria (X units) ranks second in terms of the total exports with a 23% share, followed by Sierra Leone (8.5%). Togo (X units) and Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to iron or steel gas domestic cooking appliances and plate warmers exports from Senegal stood at -9.8%. At the same time, Nigeria (+32.2%), Togo (+20.7%) and Sierra Leone (+9.4%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +32.2% from 2012-2022. By contrast, Cote d'Ivoire (-14.9%) illustrated a downward trend over the same period. While the share of Nigeria (+22 p.p.), Sierra Leone (+6.8 p.p.) and Togo (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-3.4 p.p.) and Senegal (-23.3 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest iron or steel gas domestic cooking appliances and plate warmers supplier in ECOWAS, comprising 70% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 13% share of total exports. It was followed by Sierra Leone, with a 9.4% share.

In Senegal, exports of iron or steel gas domestic cooking appliances and plate warmers contracted by an average annual rate of -9.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (+26.1% per year) and Sierra Leone (+4.4% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, dropping by -18.2% against the previous year. Overall, the export price continues to indicate a mild setback. The growth pace was the most rapid in 2020 an increase of 27%. Over the period under review, the export prices attained the peak figure at $X per unit in 2021, and then shrank remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+0.7%), while the other leaders experienced a decline in the export price figures.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports in ECOWAS

In 2022, supplies from abroad of iron or steel gas domestic cooking appliances and plate warmers decreased by -4.9% to X units, falling for the second year in a row after four years of growth. In general, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 79%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers reduced to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 68% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the key importer of iron or steel gas domestic cooking appliances and plate warmers in ECOWAS, with the volume of imports recording X units, which was near 57% of total imports in 2022. Ghana (X units) ranks second in terms of the total imports with a 26% share, followed by Cote d'Ivoire (5.6%). The following importers - Cabo Verde (X units) and Senegal (X units) - each amounted to a 6.5% share of total imports.

Nigeria was also the fastest-growing in terms of the iron or steel gas domestic cooking appliances and plate warmers imports, with a CAGR of +8.1% from 2012 to 2022. At the same time, Ghana (+7.0%), Senegal (+6.1%) and Cote d'Ivoire (+5.5%) displayed positive paces of growth. Cabo Verde experienced a relatively flat trend pattern. Nigeria (+7.9 p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde saw its share reduced by -3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported iron or steel gas domestic cooking appliances and plate warmers in ECOWAS, comprising 56% of total imports. The second position in the ranking was taken by Ghana ($X), with a 26% share of total imports. It was followed by Cote d'Ivoire, with a 6.6% share.

In Nigeria, imports of iron or steel gas domestic cooking appliances and plate warmers expanded at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+5.5% per year) and Cote d'Ivoire (+5.7% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, reducing by -10.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 12%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Cote d'Ivoire ($X per unit) and Senegal ($X per unit), while Cabo Verde ($X per unit) and Nigeria ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform