ECOWAS: Motorcycle And Bicycle Market 2025

Motorcycle And Bicycle Exports

Exports in ECOWAS

Motorcycle and bicycle exports dropped markedly to X units in 2021, with a decrease of -30.2% on the previous year's figure. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2015 with an increase of 256%. Over the period under review, the exports hit record highs at X units in 2020, and then fell remarkably in the following year.

In value terms, motorcycle and bicycle exports surged to $X in 2021. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 317%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

Togo prevails in exports structure, amounting to X units, which was approx. 84% of total exports in 2021. It was distantly followed by Ghana (X units), comprising an 8.6% share of total exports. Nigeria (X units) followed a long way behind the leaders.

Exports from Togo increased at an average annual rate of +34.1% from 2012 to 2021. At the same time, Ghana (+35.0%) and Nigeria (+28.7%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +35.0% from 2012-2021. From 2012 to 2021, the share of Togo and Ghana increased by +42 and +4.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest motorcycle and bicycle supplier in ECOWAS, comprising 93% of total exports. The second position in the ranking was taken by Ghana ($X), with a 2.9% share of total exports.

In Togo, motorcycle and bicycle exports expanded at an average annual rate of +47.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+30.0% per year) and Nigeria (+13.4% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, jumping by 79% against the previous year. In general, the export price saw a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Togo ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+10.1%), while the other leaders experienced a decline in the export price figures.

Motorcycle And Bicycle Imports

Imports in ECOWAS

After four years of growth, supplies from abroad of motorcycles and bicycles decreased by -15.8% to X units in 2021. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 152%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, motorcycle and bicycle imports contracted significantly to $X in 2021. Overall, imports, however, enjoyed moderate growth. The most prominent rate of growth was recorded in 2019 when imports increased by 67% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then contracted remarkably in the following year.

Imports by Country

Ghana represented the main importing country with an import of around X units, which reached 37% of total imports. Nigeria (X units) took the second position in the ranking, distantly followed by Guinea (X units), Mali (X units) and Cote d'Ivoire (X units). All these countries together held approx. 44% share of total imports. The following importers - Burkina Faso (X units) and Senegal (X units) - each resulted at a 7.5% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to motorcycle and bicycle imports into Ghana stood at +6.1%. At the same time, Cote d'Ivoire (+14.0%), Burkina Faso (+13.2%), Senegal (+8.9%), Mali (+7.1%), Nigeria (+4.3%) and Guinea (+3.5%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +14.0% from 2012-2021. Cote d'Ivoire (+3 p.p.) and Burkina Faso (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Guinea and Nigeria saw its share reduced by -3% and -3.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported motorcycles and bicycles in ECOWAS, comprising 40% of total imports. The second position in the ranking was held by Ghana ($X), with a 14% share of total imports. It was followed by Guinea, with an 11% share.

In Nigeria, motorcycle and bicycle imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+13.0% per year) and Guinea (+6.8% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, reducing by -3.8% against the previous year. Over the period under review, the import price saw a mild setback. The most prominent rate of growth was recorded in 2016 when the import price increased by 87%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform