Western Africa: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Exports

Exports in Western Africa

Electrical circuit apparatus exports soared to X tons in 2021, picking up by 16% on the previous year's figure. Total exports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +70.7% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 48% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, electrical circuit apparatus exports reached $X in 2021. Over the period under review, exports, however, showed a perceptible curtailment. The growth pace was the most rapid in 2019 when exports increased by 29% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Niger (X tons) and Nigeria (X tons) were the major exporters of electrical apparatus for circuit connection, switching and protection in Western Africa, together recording approx. 45% of total exports. Ghana (X tons) ranks next in terms of the total exports with a 14% share, followed by Togo (12%), Burkina Faso (5.8%), Benin (6.3%), Senegal (2.5%), Cote d'Ivoire (4.7%), Sierra Leone (3.7%) and Mauritania (3.2%). Togo (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2021, electrical circuit apparatus exports from expanded with a Nigeria of +11.1%, while Niger (-20.0%) experienced a sharp reduction unchanged over the same period. At the same time, Ghana (+21.5%), Benin (+18.4%) and Togo (+17.0%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +21.5% from 2012-2021. Mauritania experienced a relatively flat trend pattern. By contrast, Burkina Faso (-2.8%), Cote d'Ivoire (-3.0%), Sierra Leone (-10.0%) and Senegal (-12.6%) illustrated a downward trend over the same period. While the share of Nigeria (+23 p.p.), Ghana (+11 p.p.), Togo (+8.6 p.p.) and Benin (+4.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-2.4 p.p.), Burkina Faso (-2.9 p.p.), Senegal (-7.2 p.p.), Sierra Leone (-7.2 p.p.) and Niger (-22.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electrical circuit apparatus supplying countries in Western Africa were Nigeria ($X), Benin ($X) and Sierra Leone ($X), together accounting for 51% of total exports.

In terms of the main exporting countries, Benin, with a CAGR of +43.0%, 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 Western Africa stood at $X per ton in 2021, reducing by -12.9% against the previous year. Overall, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 an increase of 51% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood 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 Sierra Leone ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+20.8%), while the other leaders experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports in Western Africa

In 2021, approx. X tons of electrical apparatus for circuit connection, switching and protection were imported in Western Africa; with an increase of 29% compared with the previous year. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +99.9% against 2018 indices. The pace of growth appeared the most rapid in 2019 with an increase of 38% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, electrical circuit apparatus imports expanded notably to $X in 2021. The total import value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 21% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Nigeria (X tons) was the largest importer of electrical apparatus for circuit connection, switching and protection, generating 60% of total imports. Ghana (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons) and Senegal (X tons). All these countries together held approx. 27% share of total imports. Benin (X tons), Mali (X tons), Guinea (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +10.2% from 2012 to 2021. At the same time, Guinea (+15.2%), Cote d'Ivoire (+11.2%), Senegal (+10.1%), Benin (+9.9%), Mali (+3.2%) and Ghana (+1.3%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +15.2% from 2012-2021. Burkina Faso experienced a relatively flat trend pattern. While the share of Nigeria (+9.9 p.p.) and Cote d'Ivoire (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-10.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported electrical apparatus for circuit connection, switching and protection in Western Africa, comprising 49% of total imports. The second position in the ranking was taken by Ghana ($X), with a 14% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-2.1% per year) and Cote d'Ivoire (+7.9% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, dropping by -14.3% against the previous year. Overall, the import price recorded a pronounced decrease. The pace of growth appeared the most rapid in 2018 when the import price increased by 6.4%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Mali ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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