ECOWAS: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Exports

Exports in ECOWAS

Metal domestic furniture exports shrank markedly to X tons in 2022, declining by X% against 2021 figures. Total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, metal domestic furniture exports contracted dramatically to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X tons), Burkina Faso (X tons), Sierra Leone (X tons), Ghana (X tons), Senegal (X tons) and Liberia (X tons) was the major exporter of metal furniture in ECOWAS, achieving X% of total export. It was distantly followed by Mali (X tons), comprising a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mali (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Sierra Leone ($X) and Liberia ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Nigeria, Mali, Ghana and Burkina Faso lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Mali, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat 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 Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Metal Domestic Furniture Imports

Imports in ECOWAS

Metal domestic furniture imports reduced to X tons in 2022, shrinking by X% against the previous year. Over the period under review, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, metal domestic furniture imports reduced modestly to $X in 2022. Overall, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped slightly in the following year.

Imports by Country

In 2022, Ghana (X tons) represented the main importer of metal furniture, committing X% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Senegal (X%), Guinea (X%) and Nigeria (X%). Liberia (X tons) and Togo (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to metal domestic furniture imports into Ghana stood at X%. At the same time, Nigeria (X%), Cote d'Ivoire (X%), Togo (X%), Senegal (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Guinea (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Guinea 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, Ghana ($X) constitutes the largest market for imported metal furniture in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

In Ghana, metal domestic furniture imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal domestic furniture import price increased by X% against 2019 indices. The growth pace was the most rapid in 2013 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform