ECOWAS: Seat Market 2025

Seat Market Size in ECOWAS

In 2021, after three years of growth, there was decline in the ECOWAS seat market, when its value decreased by -3.5% to $X. Overall, consumption, however, recorded prominent growth. The level of consumption peaked at $X in 2020, and then declined slightly in the following year.

Seat Production in ECOWAS

In value terms, seat production contracted slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 69% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Seat Exports

Exports in ECOWAS

In 2021, approx. X tons of seats were exported in ECOWAS; reducing by -54.2% against the previous year. Over the period under review, exports recorded a abrupt downturn. The growth pace was the most rapid in 2014 when exports increased by 78%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, seat exports reduced dramatically to $X in 2021. Overall, exports showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 47% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from Togo (X tons), Senegal (X tons) and Ghana (X tons), together resulting at 85% of total export. It was distantly followed by Nigeria (X tons), committing an 8.9% share of total exports. Cote d'Ivoire (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of +10.4%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) emerged as the largest seat supplier in ECOWAS, comprising 44% of total exports. The second position in the ranking was taken by Togo ($X), with a 15% share of total exports. It was followed by Ghana, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal totaled +5.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+6.2% per year) and Ghana (-10.4% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, rising by 66% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+10.2%), while the other leaders experienced more modest paces of growth.

Seat Imports

Imports in ECOWAS

In 2021, supplies from abroad of seats was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a perceptible slump. The growth pace was the most rapid in 2014 with an increase of 35% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, seat imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Ghana (X tons), distantly followed by Senegal (X tons), Cote d'Ivoire (X tons), Burkina Faso (X tons), Guinea (X tons) and Nigeria (X tons) represented the major importers of seats, together creating 77% of total imports. Togo (X tons), Gambia (X tons), Benin (X tons), Niger (X tons), Mali (X tons), Sierra Leone (X tons) and Liberia (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Senegal (with a CAGR of +20.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest seat importing markets in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined 72% share of total imports. These countries were followed by Togo, Guinea, Benin, Gambia, Mali, Liberia, Burkina Faso, Nigeria, Sierra Leone and Niger, which together accounted for a further 25%.

Gambia, with a CAGR of +17.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 ton, surging by 35% against the previous year. Overall, the import price saw a strong increase. The pace of growth appeared the most rapid in 2020 an increase of 56% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform