Western Africa: Resistor Market 2024

Resistor Market Size in Western Africa

The West African resistor market reached $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption showed strong growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Resistor Production in Western Africa

In value terms, resistor production totaled $X in 2022 estimated in export price. In general, production enjoyed buoyant growth. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Resistor Exports

Exports in Western Africa

In 2022, shipments abroad of electrical resistors (except heating resistors) increased by X% to X units, rising for the third consecutive year after two years of decline. Overall, exports showed slight growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, resistor exports soared to $X in 2022. In general, exports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Niger was the key exporting country with an export of around X units, which amounted to X% of total exports. Guinea (X units) ranks second in terms of the total exports with a X% share, followed by Sierra Leone (X%). Mali (X units), Gambia (X units) and Ghana (X units) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the electrical resistors (except heating resistors) exports, with a CAGR of X% from 2012 to 2022. At the same time, Guinea (X%), Mali (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Sierra Leone (X%) and Gambia (X%) illustrated a downward trend over the same period. While the share of Niger (X p.p.), Guinea (X p.p.) and Mali (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (X p.p.) and Gambia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest resistor supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Niger ($X), with a X% share of total exports. It was followed by Guinea, with a X% share.

In Sierra Leone, resistor exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (X% per year) and Guinea (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per thousand units in 2022, with an increase of X% against the previous year. In general, the export price, however, saw a deep contraction. The pace of growth appeared the most rapid in 2019 when the export price increased by X% against the previous year. The level of export peaked at $X per thousand units in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per thousand units), while Niger ($X per thousand units) was amongst the lowest.

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

Resistor Imports

Imports in Western Africa

In 2022, purchases abroad of electrical resistors (except heating resistors) decreased by X% to X units, falling for the second consecutive year after four years of growth. In general, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, resistor imports expanded notably to $X in 2022. Overall, imports recorded a slight descent. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria dominates imports structure, resulting at X units, which was near X% of total imports in 2022. It was distantly followed by Senegal (X units) and Ghana (X units), together mixing up an X% share of total imports. Guinea (X units), Cote d'Ivoire (X units), Burkina Faso (X units) and Sierra Leone (X units) held a little share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Sierra Leone (X%), Senegal (X%), Cote d'Ivoire (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.), Guinea (X p.p.), Cote d'Ivoire (X p.p.) and Sierra Leone (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported electrical resistors (except heating resistors) in Western Africa, comprising X% of total imports. The second position in the ranking was held by Guinea ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per thousand units in 2022, increasing by X% against the previous year. Overall, the import price recorded a perceptible increase. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per thousand units in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guinea ($X per thousand units), while Nigeria ($X per thousand units) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :