ECOWAS: Skis Market 2024

Skis Market Size in ECOWAS

The ECOWAS skis market expanded significantly to $X in 2021, surging by 14% against the previous year. In general, consumption, however, continues to indicate a slight reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Skis Production in ECOWAS

In value terms, skis production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild contraction. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Skis Exports

Exports in ECOWAS

For the third consecutive year, ECOWAS recorded decline in overseas shipments of skis for winter sports, which decreased by -26.9% to X tons in 2021. Overall, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 317% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, skis exports dropped to $X in 2021. In general, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 219%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Sierra Leone represented the major exporter of skis for winter sports in ECOWAS, with the volume of exports finishing at X tons, which was approx. 61% of total exports in 2021. Cote d'Ivoire (X kg) held the second position in the ranking, distantly followed by Nigeria (X kg). All these countries together took approx. 35% share of total exports. Burkina Faso (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to skis exports from Sierra Leone stood at +17.7%. At the same time, Nigeria (+47.9%) and Cote d'Ivoire (+6.3%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +47.9% from 2012-2021. Burkina Faso experienced a relatively flat trend pattern. From 2012 to 2021, the share of Sierra Leone, Nigeria and Burkina Faso increased by +16, +9.2 and +3.7 percentage points, respectively.

In value terms, Sierra Leone ($X) remains the largest skis supplier in ECOWAS, comprising 60% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 21% share of total exports. It was followed by Nigeria, with a 14% share.

In Sierra Leone, skis exports increased at an average annual rate of +14.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (+7.7% per year) and Nigeria (+52.1% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, jumping by 22% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Burkina Faso ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+2.9%), while the other leaders experienced mixed trends in the export price figures.

Skis Imports

Imports in ECOWAS

In 2021, purchases abroad of skis for winter sports increased by 124% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, imports recorded a perceptible increase. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, skis imports skyrocketed to $X in 2021. Overall, imports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 164% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Nigeria represented the major importer of skis for winter sports in ECOWAS, with the volume of imports finishing at X tons, which was approx. 55% of total imports in 2021. Sierra Leone (X kg) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Mali (10%) and Ghana (5.2%). The following importers - Guinea (X kg) and Gambia (X kg) - each recorded a 5.6% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to skis imports into Nigeria stood at +3.2%. At the same time, Ghana (+43.5%), Sierra Leone (+25.6%), Gambia (+22.9%) and Mali (+15.6%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +43.5% from 2012-2021. By contrast, Guinea (-6.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sierra Leone, Mali, Ghana, Gambia and Nigeria increased by +19, +10, +5, +2.1 and +1.7 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported skis for winter sports in ECOWAS, comprising 62% of total imports. The second position in the ranking was taken by Mali ($X), with a 14% share of total imports. It was followed by Ghana, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to -9.1%. The remaining importing countries recorded the following average annual rates of imports growth: Mali (+13.8% per year) and Ghana (+35.8% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, reducing by -27.7% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of 36%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Guinea ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+9.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform