ECOWAS: Pump For Liquid Market 2024

Pump For Liquid Exports

Exports in ECOWAS

In 2021, overseas shipments of pumps for liquids and liquid elevators decreased by -12.3% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a pronounced reduction. The pace of growth was the most pronounced in 2015 with an increase of 50% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, pump for liquid exports shrank remarkably to $X in 2021. In general, exports recorded a noticeable setback. The pace of growth appeared the most rapid in 2020 with an increase of 100%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Cote d'Ivoire (X units), Ghana (X units), Nigeria (X units) and Togo (X units), together finishing at 80% of total export. Burkina Faso (X units) took an 8.7% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (7.3%). Mali (X units) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Togo (with a CAGR of +32.9%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest pump for liquid supplier in ECOWAS, comprising 56% of total exports. The second position in the ranking was held by Senegal ($X), with a 12% share of total exports. It was followed by Nigeria, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to +26.8%. In the other countries, the average annual rates were as follows: Senegal (+4.6% per year) and Nigeria (-8.2% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, with a decrease of -7.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 71% against the previous year. As a result, the export price attained the peak level of $X per unit, and then fell in the following year.

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 Cote d'Ivoire ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+13.5%), while the other leaders experienced more modest paces of growth.

Pump For Liquid Imports

Imports in ECOWAS

In 2021, overseas purchases of pumps for liquids and liquid elevators decreased by -13.8% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, enjoyed a moderate increase. The growth pace was the most rapid in 2018 when imports increased by 57%. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, pump for liquid imports soared to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +114.9% against 2016 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 42% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Nigeria (X units) was the largest importer of pumps for liquids and liquid elevators, creating 72% of total imports. It was distantly followed by Burkina Faso (X units) and Mali (X units), together creating a 16% share of total imports. Cote d'Ivoire (X units), Ghana (X units) and Senegal (X units) took a minor share of total imports.

Imports into Nigeria increased at an average annual rate of +4.4% from 2012 to 2021. At the same time, Mali (+28.0%), Cote d'Ivoire (+16.0%) and Senegal (+7.4%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +28.0% from 2012-2021. By contrast, Burkina Faso (-2.2%) and Ghana (-8.6%) illustrated a downward trend over the same period. Nigeria (+7.4 p.p.), Mali (+4.5 p.p.) and Cote d'Ivoire (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Burkina Faso saw its share reduced by -6.4% and -6.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported pumps for liquids and liquid elevators in ECOWAS, comprising 52% of total imports. The second position in the ranking was held by Ghana ($X), with a 13% share of total imports. It was followed by Cote d'Ivoire, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +7.2%. In the other countries, the average annual rates were as follows: Ghana (+2.3% per year) and Cote d'Ivoire (+12.1% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, picking up by 37% against the previous year. Import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pump for liquid import price increased by +49.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 68%. The level of import peaked at $X per unit in 2015; however, from 2016 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 Ghana ($X per unit), while Burkina Faso ($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 (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform