ECOWAS: Levels Market 2024

Levels Market Size in ECOWAS

For the third year in a row, the ECOWAS levels market recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption, however, showed a resilient expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Levels Production in ECOWAS

In value terms, levels production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Levels Exports

Exports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in overseas shipments of levels, which increased by X% to X units in 2022. Overall, exports saw prominent growth. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, levels exports dropped slightly to $X in 2022. Over the period under review, exports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Senegal (X units), distantly followed by Guinea (X units), Nigeria (X units), Ghana (X units), Cabo Verde (X units), Burkina Faso (X units) and Cote d'Ivoire (X units) were the major exporters of levels, together committing X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest levels supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.

In Senegal, levels exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Burkina Faso ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Levels Imports

Imports in ECOWAS

In 2022, the amount of levels imported in ECOWAS contracted dramatically to X units, which is down by X% on 2021 figures. Over the period under review, imports, however, saw prominent growth. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, levels imports dropped markedly to $X in 2022. Overall, imports, however, posted measured growth. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria was the major importing country with an import of about X units, which recorded X% of total imports. It was distantly followed by Cote d'Ivoire (X units), achieving a X% share of total imports. Ghana (X units), Senegal (X units) and Guinea (X units) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Senegal (X%), Ghana (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported levels in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, waning by X% against the previous year. In general, the import price showed a abrupt decrease. The growth pace was the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform