ECOWAS: Drawing Board Market 2024

Drawing Board Market Size in ECOWAS

The ECOWAS drawing board market skyrocketed to $X in 2022, increasing by 19% against the previous year. Overall, consumption posted prominent growth. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Drawing Board Production in ECOWAS

In value terms, drawing board production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed a moderate increase. The pace of growth was the most pronounced in 2020 with an increase of 192%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Drawing Board Exports

Exports in ECOWAS

Drawing board exports surged to X units in 2022, with an increase of 28% compared with the previous year. In general, exports posted prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 421%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, drawing board exports soared to $X in 2022. Overall, exports, however, continue to indicate a slight descent. The most prominent rate of growth was recorded in 2014 when exports increased by 249% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria represented the major exporter of slates and boards with writing or drawing surfaces in ECOWAS, with the volume of exports recording X units, which was near 70% of total exports in 2022. Togo (X units) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (6.5%) and Benin (4.5%). Burkina Faso (X units) held a relatively small share of total exports.

Nigeria was also the fastest-growing in terms of the slates and boards with writing or drawing surfaces exports, with a CAGR of +41.7% from 2012 to 2022. At the same time, Togo (+30.5%) and Senegal (+14.6%) displayed positive paces of growth. By contrast, Benin (-1.5%) and Burkina Faso (-6.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Togo and Senegal increased by +64, +10 and +2.3 percentage points, respectively.

In value terms, Senegal ($X), Nigeria ($X) and Burkina Faso ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 87% of total exports.

Senegal, with a CAGR of +23.8%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, reducing by -7% against the previous year. In general, the export price saw a abrupt descent. The pace of growth appeared the most rapid in 2019 when the export price increased by 40%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+8.0%), while the other leaders experienced a decline in the export price figures.

Drawing Board Imports

Imports in ECOWAS

In 2022, the amount of slates and boards with writing or drawing surfaces imported in ECOWAS soared to X units, with an increase of 27% compared with 2021 figures. Over the period under review, imports saw a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 32% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, drawing board imports reached $X in 2022. In general, imports showed a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 67%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Nigeria was the major importing country with an import of about X units, which resulted at 36% of total imports. Togo (X units) held the second position in the ranking, followed by Cote d'Ivoire (X units), Senegal (X units), Ghana (X units), Guinea (X units) and Benin (X units). All these countries together held approx. 52% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to drawing board imports into Nigeria stood at +6.4%. At the same time, Togo (+49.5%), Senegal (+16.7%), Guinea (+15.6%), Ghana (+9.4%) and Benin (+7.2%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +49.5% from 2012-2022. Cote d'Ivoire experienced a relatively flat trend pattern. While the share of Togo (+16 p.p.), Senegal (+4.5 p.p.) and Guinea (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (-6.2 p.p.) and Cote d'Ivoire (-10.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest drawing board importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for 52% of total imports. Senegal, Togo, Guinea and Benin lagged somewhat behind, together comprising a further 34%.

In terms of the main importing countries, Togo, with a CAGR of +36.3%, saw the highest growth rate of 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 2022, the import price in ECOWAS amounted to $X per unit, dropping by -18.8% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 31% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 Ghana ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform