ECOWAS: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Exports

Exports in ECOWAS

In 2022, overseas shipments of umbrellas and walking-sticks decreased by -40.5% to X units, falling for the second consecutive year after three years of growth. Overall, exports saw a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 27% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, umbrella and walking-stick exports declined notably to $X in 2022. In general, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 35% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana represented the major exporter of umbrellas and walking-sticks in ECOWAS, with the volume of exports accounting for X units, which was near 54% of total exports in 2022. Cote d'Ivoire (X units) ranks second in terms of the total exports with a 17% share, followed by Senegal (13%) and Nigeria (11%). Togo (X units) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the umbrellas and walking-sticks exports, with a CAGR of +5.9% from 2012 to 2022. At the same time, Togo (+2.0%) and Senegal (+1.4%) displayed positive paces of growth. By contrast, Nigeria (-15.3%) and Cote d'Ivoire (-17.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Senegal and Togo increased by +41, +8.6 and +2 percentage points, respectively.

In value terms, the largest umbrella and walking-stick supplying countries in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), together comprising 83% of total exports.

Ghana, with a CAGR of +3.9%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the export price in ECOWAS amounted to $X per unit, surging by 17% against the previous year. Over the period under review, the export price, however, recorded a deep slump. The pace of growth appeared the most rapid in 2014 when the export price increased by 58% against the previous year. The level of export peaked 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 Cote d'Ivoire ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Umbrella And Walking-Stick Imports

Imports in ECOWAS

In 2022, purchases abroad of umbrellas and walking-sticks decreased by -14.3% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports saw a pronounced shrinkage. The growth pace was the most rapid in 2017 when imports increased by 26%. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, umbrella and walking-stick imports reduced to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +103.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Ghana (X units), distantly followed by Guinea (X units), Cote d'Ivoire (X units), Nigeria (X units), Sierra Leone (X units) and Liberia (X units) represented the largest importers of umbrellas and walking-sticks, together committing 93% of total imports. Gambia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Gambia (with a CAGR of +35.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Guinea ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022, with a combined 68% share of total imports. Cote d'Ivoire, Sierra Leone, Liberia and Gambia lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, Gambia, with a CAGR of +30.9%, saw the highest rates of growth with regard to 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, with an increase of 8.2% against the previous year. In general, the import price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 an increase of 34%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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 Nigeria ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (+20.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform