Western Africa: Accordion Market 2024

Accordion Market Size in Western Africa

The West African accordion market surged to $X in 2021, with an increase of 47% against the previous year. In general, consumption, however, recorded a deep setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Accordion Production in Western Africa

In value terms, accordion production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 9.8%. Over the period under review, production hit record highs at $X in 2020, and then shrank modestly in the following year.

Accordion Exports

Exports in Western Africa

In 2021, accordion exports in Western Africa skyrocketed to X units, with an increase of 157% against the previous year's figure. Over the period under review, exports continue to indicate a modest increase. The pace of growth appeared the most rapid in 2014 with an increase of 223% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, accordion exports soared to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire dominates exports structure, finishing at X units, which was approx. 61% of total exports in 2021. Nigeria (X units) held a 9.5% share (based on physical terms) of total exports, which put it in second place, followed by Togo (8.2%), Senegal (7.6%) and Burkina Faso (7.5%). Niger (X units) and Ghana (X units) took a minor share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the accordions and mouth organs exports, with a CAGR of +44.7% from 2012 to 2021. At the same time, Burkina Faso (+22.5%), Niger (+19.3%) and Senegal (+6.5%) displayed positive paces of growth. By contrast, Togo (-3.4%), Nigeria (-15.6%) and Ghana (-20.5%) illustrated a downward trend over the same period. Cote d'Ivoire (+59 p.p.), Burkina Faso (+6.1 p.p.), Senegal (+2.7 p.p.) and Niger (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Togo, Ghana and Nigeria saw its share reduced by -4.6%, -16.5% and -40.2% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) emerged as the largest accordion supplier in Western Africa, comprising 85% of total exports. The second position in the ranking was held by Nigeria ($X), with a 4.6% share of total exports. It was followed by Togo, with a 3% share.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire totaled +55.0%. In the other countries, the average annual rates were as follows: Nigeria (-27.8% per year) and Togo (+2.6% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, increasing by 123% against the previous year. Overall, the export price, however, recorded a slight contraction. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Niger (+11.2%), while the other leaders experienced more modest paces of growth.

Accordion Imports

Imports in Western Africa

In 2021, approx. X units of accordions and mouth organs were imported in Western Africa; with an increase of 261% compared with 2020 figures. Over the period under review, imports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2019 when imports increased by 324% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, accordion imports soared to $X in 2021. In general, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 609% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Cote d'Ivoire was the largest importer of accordions and mouth organs in Western Africa, with the volume of imports resulting at X units, which was near 73% of total imports in 2021. It was distantly followed by Nigeria (X units) and Ghana (X units), together achieving an 18% share of total imports. Cabo Verde (X units) took a relatively small share of total imports.

Cote d'Ivoire was also the fastest-growing in terms of the accordions and mouth organs imports, with a CAGR of +17.1% from 2012 to 2021. At the same time, Cabo Verde (+3.6%) displayed positive paces of growth. By contrast, Ghana (-12.1%) and Nigeria (-22.1%) illustrated a downward trend over the same period. Cote d'Ivoire (+62 p.p.) and Cabo Verde (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Nigeria saw its share reduced by -6.3% and -54% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported accordions and mouth organs in Western Africa, comprising 52% of total imports. The second position in the ranking was held by Ghana ($X), with a 23% share of total imports. It was followed by Nigeria, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire totaled +31.3%. In the other countries, the average annual rates were as follows: Ghana (-10.4% per year) and Nigeria (-25.1% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, with a decrease of -52.7% against the previous year. Overall, the import price showed a perceptible contraction. The pace of growth appeared the most rapid in 2017 an increase of 95%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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