ECOWAS: Winding Wire Market 2025

Winding Wire Exports

Exports in ECOWAS

In 2022, overseas shipments of winding wire for electrical purposes increased by 109% to X tons, rising for the second year in a row after three years of decline. Overall, exports posted a strong increase. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, winding wire exports soared to $X in 2022. In general, exports enjoyed a perceptible expansion. The pace of growth was the most pronounced in 2014 with an increase of 136% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana represented the major exporter of winding wire for electrical purposes in ECOWAS, with the volume of exports resulting at X tons, which was approx. 63% of total exports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a 15% share, followed by Burkina Faso (9.9%) and Nigeria (6%). Togo (X tons) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of +18.3% from 2012 to 2022. At the same time, Burkina Faso (+20.5%), Cote d'Ivoire (+18.7%) and Nigeria (+9.0%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +20.5% from 2012-2022. By contrast, Togo (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Cote d'Ivoire and Burkina Faso increased by +40, +9.5 and +6.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest winding wire supplying countries in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Burkina Faso ($X), together accounting for 91% of total exports.

In terms of the main exporting countries, Cote d'Ivoire, with a CAGR of +29.6%, 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

The export price in ECOWAS stood at $X per ton in 2022, shrinking by -17.1% against the previous year. Over the period under review, the export price saw a pronounced slump. The pace of growth was the most pronounced in 2018 an increase of 48% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+9.3%), while the other leaders experienced mixed trends in the export price figures.

Winding Wire Imports

Imports in ECOWAS

In 2022, overseas purchases of winding wire for electrical purposes increased by 428% to X tons, rising for the third consecutive year after two years of decline. Overall, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, winding wire imports soared to $X in 2022. In general, imports showed prominent growth. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Senegal (X tons) represented the major importer of winding wire for electrical purposes, mixing up 74% of total imports. It was distantly followed by Nigeria (X tons), achieving a 13% share of total imports. Ghana (X tons), Guinea (X tons) and Cote d'Ivoire (X tons) took a minor share of total imports.

Senegal was also the fastest-growing in terms of the winding wire for electrical purposes imports, with a CAGR of +90.8% from 2012 to 2022. At the same time, Cote d'Ivoire (+31.9%), Nigeria (+16.1%), Guinea (+11.0%) and Ghana (+6.1%) displayed positive paces of growth. While the share of Senegal (+74 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guinea (-3.4 p.p.), Nigeria (-7 p.p.) and Ghana (-9.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported winding wire for electrical purposes in ECOWAS, comprising 42% of total imports. The second position in the ranking was held by Senegal ($X), with a 13% share of total imports. It was followed by Ghana, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +14.0%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+43.1% per year) and Ghana (+4.7% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, falling by -67.2% against the previous year. Overall, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2015 when the import price increased by 44% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform