ECOWAS: Video Game Console Market 2024

Video Game Console Market Size in ECOWAS

In 2022, the ECOWAS video game console market increased by 13% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, continues to indicate a noticeable shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Video Game Console Production in ECOWAS

In value terms, video game console production declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 34% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Video Game Console Exports

Exports in ECOWAS

In 2022, the amount of video game consoles exported in ECOWAS surged to X units, growing by 76% compared with the previous year. Overall, exports, however, recorded a perceptible decline. The growth pace was the most rapid in 2016 when exports increased by 182% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, video game console exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a mild reduction. The pace of growth was the most pronounced in 2014 when exports increased by 211% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria prevails in exports structure, accounting for X units, which was approx. 72% of total exports in 2022. It was distantly followed by Sierra Leone (X units) and Guinea (X units), together achieving a 17% share of total exports. Ghana (X units), Senegal (X units) and Cote d'Ivoire (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to video game console exports from Nigeria stood at +10.0%. At the same time, Sierra Leone (+44.2%), Guinea (+4.1%) and Cote d'Ivoire (+1.3%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +44.2% from 2012-2022. By contrast, Ghana (-1.7%) and Senegal (-13.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Sierra Leone and Guinea increased by +54, +9.8 and +4.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest video game console supplying countries in ECOWAS were Nigeria ($X), Sierra Leone ($X) and Cote d'Ivoire ($X), with a combined 89% share of total exports.

Sierra Leone, with a CAGR of +55.0%, 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 more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, dropping by -32.7% against the previous year. Over the period under review, the export price, however, posted a noticeable expansion. The growth pace was the most rapid in 2019 when the export price increased by 58%. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then shrank rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+7.4%), while the other leaders experienced mixed trends in the export price figures.

Video Game Console Imports

Imports in ECOWAS

In 2022, supplies from abroad of video game consoles increased by 589% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate a strong increase. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, video game console imports surged to $X in 2022. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 315%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Senegal (X units) and Nigeria (X units) dominates imports structure, together generating 87% of total imports. It was distantly followed by Cote d'Ivoire (X units), achieving a 9.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Senegal (with a CAGR of +42.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest video game console importing markets in ECOWAS were Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined 79% share of total imports.

Among the main importing countries, Senegal, with a CAGR of +56.4%, 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

The import price in ECOWAS stood at $X per unit in 2022, falling by -65.6% against the previous year. In general, the import price, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2015 an increase of 128%. The level of import peaked at $X per unit in 2021, and then contracted markedly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Senegal ($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 (+13.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform