ECOWAS: Memories Market 2025

Memories Market Size in ECOWAS

After two years of decline, the ECOWAS memories market increased by 21% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Memories Production in ECOWAS

In value terms, memories production skyrocketed to $X in 2021 estimated in export price. The total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.6% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Memories Exports

Exports in ECOWAS

In 2021, memories exports in ECOWAS skyrocketed to X units, jumping by 130% against 2020 figures. Overall, exports, however, saw a sharp contraction. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, memories exports soared to $X in 2021. Over the period under review, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 365% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria represented the main exporter of multichip integrated circuits: memories in ECOWAS, with the volume of exports finishing at X units, which was near 65% of total exports in 2021. It was distantly followed by Mali (X units), achieving a 26% share of total exports. Togo (X units), Niger (X units) and Sierra Leone (X units) followed a long way behind the leaders.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of multichip integrated circuits: memories. At the same time, Togo (+32.6%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +32.6% from 2012-2021. By contrast, Sierra Leone (-3.8%), Mali (-4.2%) and Niger (-42.9%) illustrated a downward trend over the same period. Nigeria (+65 p.p.), Mali (+26 p.p.), Togo (+3.7 p.p.) and Sierra Leone (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Niger saw its share reduced by -4.3% from 2012 to 2021, respectively.

In value terms, Mali ($X) remains the largest memories supplier in ECOWAS, comprising 56% of total exports. The second position in the ranking was held by Nigeria ($X), with an 18% share of total exports. It was followed by Togo, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Mali stood at +10.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (0.0% per year) and Togo (+110.1% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, waning by -48.7% against the previous year. Overall, the export price, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2013 an increase of 3,632%. The level of export peaked at $X per unit in 2016; however, from 2017 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 Togo ($X per unit), while Nigeria ($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 (+58.5%), while the other leaders experienced more modest paces of growth.

Memories Imports

Imports in ECOWAS

In 2021, supplies from abroad of multichip integrated circuits: memories decreased by -51.7% to X units for the first time since 2017, thus ending a three-year rising trend. In general, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 126%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, memories imports contracted sharply to $X in 2021. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 43% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the largest importing country with an import of about X units, which resulted at 59% of total imports. Senegal (X units) ranks second in terms of the total imports with a 13% share, followed by Cabo Verde (8%) and Burkina Faso (7%). The following importers - Cote d'Ivoire (X units), Guinea (X units) and Niger (X units) - each accounted for a 9.2% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to memories imports into Nigeria stood at -16.0%. At the same time, Guinea (+37.4%), Burkina Faso (+26.7%), Cabo Verde (+25.3%), Senegal (+23.1%) and Cote d'Ivoire (+18.6%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +37.4% from 2012-2021. By contrast, Niger (-28.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal, Cabo Verde, Burkina Faso, Cote d'Ivoire and Guinea increased by +12, +7.7, +6.8, +3.2 and +3 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported multichip integrated circuits: memories in ECOWAS, comprising 64% of total imports. The second position in the ranking was held by Senegal ($X), with a 16% share of total imports. It was followed by Guinea, with a 4% share.

In Nigeria, memories imports decreased by an average annual rate of -15.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Senegal (+24.2% per year) and Guinea (+12.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, picking up by 1.8% against the previous year. In general, the import price, however, recorded a mild setback. The growth pace was the most rapid in 2017 an increase of 101% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 Guinea ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+30.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform