ECOWAS: Walking-Sticks And Whips Market 2024

Walking-Sticks And Whips Market Size in ECOWAS

In 2021, the ECOWAS walking-sticks and whips market was finally on the rise to reach $X after three years of decline. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Walking-Sticks And Whips Production in ECOWAS

In value terms, walking-sticks and whips production amounted to $X in 2021 estimated in export price. In general, production continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 102%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Walking-Sticks And Whips Exports

Exports in ECOWAS

In 2021, overseas shipments of walking-sticks, seat-sticks, whips and riding-crops increased by 202% to X kg, rising for the third consecutive year after three years of decline. In general, exports, however, recorded a abrupt contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, walking-sticks and whips exports surged to $X in 2021. Overall, exports, however, saw a dramatic slump. The pace of growth was the most pronounced in 2015 with an increase of 250% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Nigeria (X kg) was the largest exporter of walking-sticks, seat-sticks, whips and riding-crops, committing 55% of total exports. It was distantly followed by Cote d'Ivoire (X kg) and Ghana (X kg), together making up a 40% share of total exports. Cabo Verde (X kg) and Liberia (X kg) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the walking-sticks, seat-sticks, whips and riding-crops exports, with a CAGR of +66.7% from 2012 to 2021. At the same time, Cote d'Ivoire (+57.0%) and Liberia (+34.8%) displayed positive paces of growth. By contrast, Cabo Verde (-3.3%) and Ghana (-31.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Cote d'Ivoire, Liberia and Cabo Verde increased by +55, +21, +2.2 and +1.9 percentage points, respectively.

In value terms, the largest walking-sticks and whips supplying countries in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), together accounting for 89% of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +70.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, which is down by -22% against the previous year. In general, the export price saw a noticeable downturn. The pace of growth appeared the most rapid in 2015 when the export price increased by 47%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Liberia ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+9.4%), while the other leaders experienced more modest paces of growth.

Walking-Sticks And Whips Imports

Imports in ECOWAS

In 2021, approx. X tons of walking-sticks, seat-sticks, whips and riding-crops were imported in ECOWAS; rising by 108% on 2020. Overall, imports saw a tangible increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, walking-sticks and whips imports soared to $X in 2021. Over the period under review, imports showed slight growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria (X tons) and Ghana (X tons) represented the key importers of walking-sticks, seat-sticks, whips and riding-crops in 2021, reaching near 34% and 30% of total imports, respectively. Benin (X tons) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (5.6%). Togo (X tons) and Cote d'Ivoire (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were in Senegal (with a CAGR of +52.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest walking-sticks and whips importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Senegal ($X), with a combined 80% share of total imports.

In terms of the main importing countries, Senegal, with a CAGR of +45.0%, 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 ton in 2021, falling by -34% against the previous year. Overall, the import price continues to indicate a slight slump. The pace of growth appeared the most rapid in 2013 an increase of 41% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($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 (+6.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform