ECOWAS: Market for Upholstered Seats With Wooden Frames 2024

Market Size for Upholstered Seats With Wooden Frames in ECOWAS

The ECOWAS wooden frame upholstered seat market reached $X in 2022, picking up by 5.4% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.8% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Upholstered Seats With Wooden Frames in ECOWAS

In value terms, wooden frame upholstered seat production expanded markedly to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.6% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 33% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Upholstered Seats With Wooden Frames

Exports in ECOWAS

In 2022, wooden frame upholstered seat exports in ECOWAS declined to X units, falling by -4.4% on 2021. In general, exports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by 81%. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, wooden frame upholstered seat exports declined to $X in 2022. Over the period under review, exports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2017 with an increase of 95% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X units) and Cabo Verde (X units) represented the main exporters of upholstered seats with wooden frames in ECOWAS, together accounting for approx. 57% of total exports. Senegal (X units) took the next position in the ranking, followed by Sierra Leone (X units) and Ghana (X units). All these countries together took approx. 35% share of total exports. The following exporters - Cote d'Ivoire (X units) and Burkina Faso (X units) - together made up 4.9% of total exports.

From 2012 to 2022, the biggest increases were recorded for Cabo Verde (with a CAGR of +35.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cabo Verde ($X) and Senegal ($X) were the countries with the highest levels of exports in 2022, together comprising 70% of total exports.

Cabo Verde, with a CAGR of +26.8%, saw the highest growth rate of the value of exports, in terms of 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

The export price in ECOWAS stood at $X per unit in 2022, leveling off at the previous year. Overall, the export price showed a pronounced descent. The pace of growth appeared the most rapid in 2014 an increase of 15%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Burkina Faso (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Upholstered Seats With Wooden Frames

Imports in ECOWAS

In 2022, after six years of growth, there was significant decline in purchases abroad of upholstered seats with wooden frames, when their volume decreased by -21.3% to X units. Over the period under review, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 76% against the previous year. As a result, imports attained the peak of X units, and then reduced rapidly in the following year.

In value terms, wooden frame upholstered seat imports fell significantly to $X in 2022. In general, imports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

Ghana (X units) and Cote d'Ivoire (X units) were the largest importers of upholstered seats with wooden frames in 2022, recording near 32% and 30% of total imports, respectively. Senegal (X units) held a 6.7% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (5.6%), Mali (5.2%) and Cabo Verde (5%). Gambia (X units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Gambia (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, together comprising 65% of total imports. Gambia, Guinea, Cabo Verde and Mali lagged somewhat behind, together accounting for a further 23%.

Gambia, with a CAGR of +25.4%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in ECOWAS stood at $X per unit in 2022, with an increase of 3.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 8.6% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

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 Gambia ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform