Western Africa: Envelope Market 2024

Envelope Market Size in Western Africa

The West African envelope market contracted to $X in 2021, waning by -7.8% against the previous year. In general, consumption, however, recorded a remarkable increase. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Envelope Production in Western Africa

In value terms, envelope production contracted to $X in 2021 estimated in export price. Overall, production, however, recorded prominent growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 41% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Envelope Exports

Exports in Western Africa

In 2021, overseas shipments of envelopes increased by 20% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 35%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, envelope exports contracted notably to $X in 2021. In general, exports, however, showed a perceptible descent. The growth pace was the most rapid in 2016 with an increase of 56%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Ghana was the main exporter of envelopes in Western Africa, with the volume of exports recording X tons, which was near 53% of total exports in 2021. Sierra Leone (X tons) took the second position in the ranking, distantly followed by Nigeria (X tons). All these countries together held approx. 43% share of total exports. Senegal (X kg) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of +18.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Nigeria ($X) remains the largest envelope supplier in Western Africa, comprising 66% of total exports. The second position in the ranking was held by Ghana ($X), with a 22% share of total exports. It was followed by Sierra Leone, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +12.6%. In the other countries, the average annual rates were as follows: Ghana (+1.5% per year) and Sierra Leone (-23.3% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, reducing by -34.2% against the previous year. In general, the export price recorded a noticeable descent. The most prominent rate of growth was recorded in 2016 when the export price increased by 26%. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then dropped significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+12.0%), while the other leaders experienced a decline in the export price figures.

Envelope Imports

Imports in Western Africa

In 2021, supplies from abroad of envelopes was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, envelope imports stood at $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 36%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Ghana (X tons) and Cote d'Ivoire (X tons) represented the major importers of envelopes in Western Africa, together comprising 40% of total imports. Senegal (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (11%), Benin (11%), Togo (6.2%), Mali (5.6%) and Sierra Leone (4.7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mali (with a CAGR of +20.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Benin ($X) were the countries with the highest levels of imports in 2021, with a combined 56% share of total imports. These countries were followed by Togo, Mali, Burkina Faso, Sierra Leone and Senegal, which together accounted for a further 29%.

Mali, with a CAGR of +17.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Western Africa stood at $X per ton in 2021, reducing by -3.5% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the import price increased by 9.9%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, 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 Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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