ECOWAS: Printing Press Market 2024

Printing Press Exports

Exports in ECOWAS

In 2022, shipments abroad of printing presses increased by 65% to X units, rising for the fourth year in a row after two years of decline. Overall, exports posted a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 369%. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, printing press exports shrank significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a slight slump. The growth pace was the most rapid in 2021 with an increase of 160% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria prevails in exports structure, recording X units, which was near 89% of total exports in 2022. It was distantly followed by Ghana (X units), achieving a 4.7% share of total exports. Cote d'Ivoire (X units) took a little share of total exports.

Nigeria was also the fastest-growing in terms of the printing presses exports, with a CAGR of +9.2% from 2012 to 2022. Ghana (-2.4%) and Cote d'Ivoire (-6.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by +18 percentage points.

In value terms, Nigeria ($X) remains the largest printing press supplier in ECOWAS, comprising 76% of total exports. The second position in the ranking was taken by Ghana ($X), with a 4.4% share of total exports.

In Nigeria, printing press exports expanded at an average annual rate of +7.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-13.8% per year) and Cote d'Ivoire (-17.9% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, with a decrease of -57.7% against the previous year. In general, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by 146% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood 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 Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-2.0%), while the other leaders experienced a decline in the export price figures.

Printing Press Imports

Imports in ECOWAS

In 2022, approx. X units of printing presses were imported in ECOWAS; with an increase of 5.4% against the previous year. In general, imports posted temperate growth. The pace of growth was the most pronounced in 2015 with an increase of 166%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, printing press imports declined rapidly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 90%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X units) represented the largest importer of printing presses, generating 40% of total imports. Senegal (X units) took the second position in the ranking, followed by Ghana (X units) and Cote d'Ivoire (X units). All these countries together held approx. 46% share of total imports. Cabo Verde (X units), Mali (X units) and Burkina Faso (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Cabo Verde (+16.4%), Mali (+10.6%), Senegal (+7.3%), Ghana (+5.9%), Cote d'Ivoire (+2.2%) and Burkina Faso (+1.5%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +16.4% from 2012-2022. From 2012 to 2022, the share of Senegal, Ghana and Cabo Verde increased by +4.6, +2.3 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported printing presses in ECOWAS, comprising 57% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 13% share of total imports. It was followed by Ghana, with an 11% share.

In Nigeria, printing press imports declined by an average annual rate of -2.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+10.0% per year) and Ghana (-2.2% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, which is down by -19.7% against the previous year. Over the period under review, the import price saw a perceptible decline. The most prominent rate of growth was recorded in 2016 an increase of 374%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a 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 Nigeria ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform