ECOWAS: Metal Office Furniture Market 2024

Metal Office Furniture Exports

Exports in ECOWAS

In 2022, after two years of growth, there was significant decline in shipments abroad of metal office furniture, when their volume decreased by -30.8% to X tons. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 118% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, metal office furniture exports reduced markedly to $X in 2022. In general, exports saw a noticeable decline. The pace of growth appeared the most rapid in 2021 when exports increased by 125%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria was the largest exporter of metal office furniture in ECOWAS, with the volume of exports reaching X tons, which was approx. 40% of total exports in 2022. It was distantly followed by Benin (X tons), Cote d'Ivoire (X tons), Ghana (X tons), Cabo Verde (X tons) and Guinea (X tons), together constituting a 52% share of total exports. Senegal (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the metal office furniture exports, with a CAGR of +43.6% from 2012 to 2022. At the same time, Cabo Verde (+39.4%), Ghana (+25.5%), Benin (+15.2%) and Guinea (+11.7%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-3.2%) and Senegal (-21.3%) illustrated a downward trend over the same period. While the share of Nigeria (+39 p.p.), Benin (+15 p.p.), Cabo Verde (+7.7 p.p.), Ghana (+7.6 p.p.) and Guinea (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-4.5 p.p.) and Senegal (-44.5 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest metal office furniture supplier in ECOWAS, comprising 41% of total exports. The second position in the ranking was held by Benin ($X), with a 12% share of total exports. It was followed by Cabo Verde, with an 11% share.

In Nigeria, metal office furniture exports expanded at an average annual rate of +38.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Benin (+4.1% per year) and Cabo Verde (+25.5% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, increasing by 2.1% against the previous year. Overall, the export price, however, saw a pronounced descent. The growth pace was the most rapid in 2019 when the export price increased by 59%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Guinea ($X per ton), while Benin ($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 (+2.4%), while the other leaders experienced a decline in the export price figures.

Metal Office Furniture Imports

Imports in ECOWAS

In 2022, the amount of metal office furniture imported in ECOWAS expanded modestly to X tons, growing by 3.4% against the previous year's figure. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 112% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal office furniture imports fell slightly to $X in 2022. Over the period under review, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 71%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X tons), distantly followed by Cote d'Ivoire (X tons), Senegal (X tons), Nigeria (X tons), Mali (X tons), Guinea (X tons), Burkina Faso (X tons) and Benin (X tons) were the major importers of metal office furniture, together mixing up 87% of total imports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +22.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal office furniture importing markets in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X), with a combined 63% share of total imports.

Among the main importing countries, Ghana, with a CAGR of +19.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, dropping by -7.7% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by 31% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 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 Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform