ECOWAS: Sliding Pencil Market 2024

Sliding Pencil Market Size in ECOWAS

The ECOWAS sliding pencil market contracted markedly to $X in 2021, with a decrease of -16% against the previous year. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +23.9% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Sliding Pencil Production in ECOWAS

In value terms, sliding pencil production declined rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a mild expansion. The most prominent rate of growth was recorded in 2016 with an increase of 84% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Sliding Pencil Exports

Exports in ECOWAS

Sliding pencil exports skyrocketed to X units in 2021, jumping by 119% on 2020. Over the period under review, exports posted a slight expansion. The pace of growth was the most pronounced in 2015 when exports increased by 351% against the previous year. The volume of export peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, sliding pencil exports soared to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 273% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Sierra Leone was the major exporting country with an export of about X units, which recorded 49% of total exports. Liberia (X units) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (17%), Senegal (7.1%) and Niger (6.6%).

Sierra Leone experienced a relatively flat trend pattern with regard to volume of exports of propelling or sliding pencils. At the same time, Liberia (+7.1%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +7.1% from 2012-2021. Niger experienced a relatively flat trend pattern. By contrast, Nigeria (-7.8%) and Senegal (-17.3%) illustrated a downward trend over the same period. Sierra Leone (+49 p.p.), Liberia (+7.7 p.p.) and Niger (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria and Senegal saw its share reduced by -23.8% and -39.2% from 2012 to 2021, respectively.

In value terms, Liberia ($X), Sierra Leone ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2021, with a combined 85% share of total exports.

In terms of the main exporting countries, Liberia, with a CAGR of +18.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, with a decrease of -18.1% against the previous year. In general, the export price showed a noticeable decline. The pace of growth was the most pronounced in 2014 an increase of 96% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

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 Liberia ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+10.9%), while the other leaders experienced more modest paces of growth.

Sliding Pencil Imports

Imports in ECOWAS

In 2021, purchases abroad of propelling or sliding pencils increased by 46% to X units, rising for the third consecutive year after five years of decline. Overall, imports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2020 when imports increased by 57%. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, sliding pencil imports soared to $X in 2021. In general, imports, however, recorded a deep contraction. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of sliding pencil imports in 2021 were Ghana (X units), Togo (X units) and Cote d'Ivoire (X units), together reaching 70% of total import. It was distantly followed by Nigeria (X units), creating a 10% share of total imports. Cabo Verde (X units), Mali (X units) and Gambia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Gambia (with a CAGR of +45.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sliding pencil importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 64% share of total imports. These countries were followed by Togo, Mali, Gambia and Cabo Verde, which together accounted for a further 22%.

Among the main importing countries, Gambia, with a CAGR of +39.4%, saw 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 2021, the import price in ECOWAS amounted to $X per unit, dropping by -4.6% against the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sliding pencil import price decreased by -32.5% against 2017 indices. The pace of growth was the most pronounced in 2014 when the import price increased by 38%. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 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 Nigeria ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform