ECOWAS: Iron Household Articles Market 2025

Iron Household Articles Market Size in ECOWAS

For the seventh consecutive year, the ECOWAS iron household articles market recorded growth in sales value, which increased by 3.1% to $X in 2021. Overall, consumption, however, continues to indicate a buoyant increase. The level of consumption peaked in 2021 and is likely to see gradual growth in years to come.

Iron Household Articles Production in ECOWAS

In value terms, iron household articles production stood at $X in 2021 estimated in export price. In general, production, however, recorded prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 91% against the previous year. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2021.

Iron Household Articles Exports

Exports in ECOWAS

In 2021, iron household articles exports in ECOWAS soared to X tons, jumping by 26% against the previous year. Over the period under review, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 31%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, iron household articles exports expanded notably to $X in 2021. In general, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when exports increased by 33% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the major exporter of table, kitchen or household articles and parts of iron in ECOWAS, with the volume of exports amounting to X tons, which was near 46% of total exports in 2021. Nigeria (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Togo (15%), Gambia (9.4%), Ghana (5.3%) and Senegal (4.8%).

Exports from Cote d'Ivoire increased at an average annual rate of +12.9% from 2012 to 2021. At the same time, Gambia (+56.6%) and Nigeria (+6.9%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +56.6% from 2012-2021. By contrast, Senegal (-9.9%), Togo (-20.9%) and Ghana (-34.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Cote d'Ivoire, Nigeria, Gambia and Senegal increased by +42, +14, +9.4 and +1.9 percentage points, respectively.

In value terms, the largest iron household articles supplying countries in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Togo ($X), with a combined 73% share of total exports. Ghana, Gambia and Senegal lagged somewhat behind, together comprising a further 22%.

Gambia, with a CAGR of +32.6%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, with a decrease of -13.2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 36% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Gambia ($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 (+17.2%), while the other leaders experienced a decline in the export price figures.

Iron Household Articles Imports

Imports in ECOWAS

After six years of growth, supplies from abroad of table, kitchen or household articles and parts of iron decreased by -2.5% to X tons in 2021. Over the period under review, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by 59%. As a result, imports attained the peak of X tons, and then fell slightly in the following year.

In value terms, iron household articles imports expanded slightly to $X in 2021. Overall, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 76%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Nigeria dominates imports structure, reaching X tons, which was approx. 69% of total imports in 2021. Burkina Faso (X tons) ranks second in terms of the total imports with an 8.8% share, followed by Senegal (7.1%) and Ghana (6.8%). The following importers - Cote d'Ivoire (X tons) and Guinea (X tons) - each recorded a 3.7% share of total imports.

Imports into Nigeria increased at an average annual rate of +27.7% from 2012 to 2021. At the same time, Senegal (+41.5%), Ghana (+13.2%), Cote d'Ivoire (+7.2%) and Burkina Faso (+4.7%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +41.5% from 2012-2021. By contrast, Guinea (-3.4%) illustrated a downward trend over the same period. While the share of Nigeria (+46 p.p.) and Senegal (+6.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Guinea (-5.5 p.p.) and Burkina Faso (-8.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported table, kitchen or household articles and parts of iron in ECOWAS, comprising 44% of total imports. The second position in the ranking was held by Ghana ($X), with a 21% share of total imports. It was followed by Senegal, with an 18% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +26.5%. In the other countries, the average annual rates were as follows: Ghana (+19.9% per year) and Senegal (+41.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, growing by 4.4% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 33%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($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 (+5.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform