ECOWAS: Liquid Supply Meter Market 2024

Liquid Supply Meter Market Size in ECOWAS

After two years of decline, the ECOWAS liquid supply meter market increased by 9.5% to $X in 2021. The total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Liquid Supply Meter Production in ECOWAS

In value terms, liquid supply meter production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 48%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Liquid Supply Meter Exports

Exports in ECOWAS

In 2021, the amount of liquid supply or production meters exported in ECOWAS dropped to X units, with a decrease of -14.2% on the previous year. Over the period under review, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 14,165%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, liquid supply meter exports fell remarkably to $X in 2021. In general, exports showed a deep setback. The pace of growth appeared the most rapid in 2018 with an increase of 128%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Senegal prevails in exports structure, resulting at X units, which was approx. 93% of total exports in 2021. Cote d'Ivoire (X units) and Niger (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to liquid supply meter exports from Senegal stood at -7.1%. At the same time, Cote d'Ivoire (+30.0%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +30.0% from 2012-2021. Niger experienced a relatively flat trend pattern. Cote d'Ivoire (+3.4 p.p.) and Niger (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Niger ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 59% of total exports.

Cote d'Ivoire, with a CAGR of -4.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, with a decrease of -43.3% against the previous year. Overall, the export price recorded a deep downturn. The most prominent rate of growth was recorded in 2015 when the export price increased by 10,605%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (-10.6%).

Liquid Supply Meter Imports

Imports in ECOWAS

In 2021, imports of liquid supply or production meters in ECOWAS surged to X units, rising by 50% against the year before. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 107%. The volume of import peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, liquid supply meter imports expanded markedly to $X in 2021. In general, imports saw a strong expansion. The growth pace was the most rapid in 2017 with an increase of 79%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Cote d'Ivoire (X units) was the largest importer of liquid supply or production meters, creating 48% of total imports. Nigeria (X units) held the second position in the ranking, distantly followed by Niger (X units) and Mali (X units). All these countries together took approx. 40% share of total imports. The following importers - Senegal (X units), Benin (X units) and Cabo Verde (X units) - together made up 8.4% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nigeria (with a CAGR of +54.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest liquid supply meter importing markets in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X), with a combined 63% share of total imports. Benin, Mali, Niger and Cabo Verde lagged somewhat behind, together accounting for a further 18%.

Mali, with a CAGR of +26.0%, 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

In 2021, the import price in ECOWAS amounted to $X per unit, dropping by -29.5% against the previous year. Over the period under review, the import price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 when the import price increased by 52% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+5.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform