ECOWAS: Market for Lighting Sets For Christmas Trees 2024

Market Size for Lighting Sets For Christmas Trees in ECOWAS

The ECOWAS market for lighting sets for christmas trees shrank to $X in 2022, waning by -12.5% against the previous year. Over the period under review, consumption saw a noticeable contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Lighting Sets For Christmas Trees in ECOWAS

In value terms, lighting set for christmas trees production fell modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 21% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Lighting Sets For Christmas Trees

Exports in ECOWAS

After three years of growth, shipments abroad of lighting sets for christmas trees decreased by -63% to X units in 2022. In general, exports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 364%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, lighting set for christmas trees exports fell dramatically to $X in 2022. Overall, exports, however, posted a measured expansion. The pace of growth was the most pronounced in 2016 with an increase of 248%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire was the largest exporting country with an export of around X units, which finished at 54% of total exports. It was distantly followed by Nigeria (X units), Togo (X units), Senegal (X units) and Ghana (X units), together mixing up a 46% share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of +17.0% from 2012 to 2022. At the same time, Senegal (+19.3%), Nigeria (+5.1%) and Togo (+2.1%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +19.3% from 2012-2022. By contrast, Ghana (-10.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire and Senegal increased by +33 and +7.9 percentage points, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest lighting set for christmas trees supplier in ECOWAS, comprising 51% of total exports. The second position in the ranking was held by Nigeria ($X), with a 22% share of total exports. It was followed by Senegal, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire amounted to +1.7%. In the other countries, the average annual rates were as follows: Nigeria (+12.0% per year) and Senegal (+23.8% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, rising by 43% against the previous year. Over the period under review, the export price, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2019 an increase of 52% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Togo ($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 (+6.5%), while the other leaders experienced more modest paces of growth.

Imports of Lighting Sets For Christmas Trees

Imports in ECOWAS

In 2022, lighting set for christmas trees imports in ECOWAS shrank markedly to X units, waning by -28.3% against 2021. In general, imports recorded a deep setback. The most prominent rate of growth was recorded in 2020 when imports increased by 115% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, lighting set for christmas trees imports fell to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -28.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 98%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria (X units), Cote d'Ivoire (X units), Ghana (X units) and Benin (X units) represented roughly 65% of total imports in 2022. Senegal (X units) ranks next in terms of the total imports with an 8.4% share, followed by Togo (8%), Cabo Verde (7.2%) and Liberia (5.8%).

From 2012 to 2022, the biggest increases were recorded for Liberia (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Togo ($X) were the countries with the highest levels of imports in 2022, together comprising 64% of total imports. These countries were followed by Senegal, Cabo Verde, Benin, Liberia and Nigeria, which together accounted for a further 30%.

Liberia, with a CAGR of +59.4%, saw the highest growth rate of the value of imports, among 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

The import price in ECOWAS stood at $X per unit in 2022, with an increase of 22% against the previous year. Over the period under review, the import price saw prominent growth. The most prominent rate of growth was recorded in 2014 an increase of 81% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the 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 Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform