Western Africa: Ether Market 2024

Ether Market Size in Western Africa

The West African ether market rose to $X in 2022, surging by 4.2% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.3% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Ether Production in Western Africa

In value terms, ether production rose to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.1% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 24% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Ether Exports

Exports in Western Africa

After two years of growth, overseas shipments of ethers decreased by -7.4% to X tons in 2022. In general, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 128%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ether exports shrank to $X in 2022. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 482% 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 somewhat lower figure.

Exports by Country

Ghana was the key exporting country with an export of around X tons, which amounted to 56% of total exports. Mali (X tons) ranks second in terms of the total exports with a 20% share, followed by Senegal (15%) and Niger (5.7%). Nigeria (X kg) held a minor share of total exports.

Ghana experienced a relatively flat trend pattern with regard to volume of exports of ethers. At the same time, Mali (+39.0%), Senegal (+20.1%) and Niger (+11.1%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +39.0% from 2012-2022. By contrast, Nigeria (-33.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Mali, Senegal and Niger increased by +39, +20, +15 and +5.7 percentage points, respectively.

In value terms, the largest ether supplying countries in Western Africa were Ghana ($X), Senegal ($X) and Niger ($X), with a combined 84% share of total exports.

Senegal, with a CAGR of +21.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, which is down by -5.6% against the previous year. Overall, the export price recorded a mild shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 155%. As a result, the export price reached the peak level of $X per ton. 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 Niger ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+8.2%), while the other leaders experienced more modest paces of growth.

Ether Imports

Imports in Western Africa

In 2022, purchases abroad of ethers decreased by -4.9% to X tons, falling for the second consecutive year after four years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 63% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, ether imports rose sharply to $X in 2022. Over the period under review, imports saw a mild curtailment. The growth pace was the most rapid in 2017 with an increase of 40%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the key importer of ethers, comprising 72% of total imports. Ghana (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (6.4%). The following importers - Senegal (X tons) and Liberia (X tons) - together made up 6% of total imports.

From 2012 to 2022, average annual rates of growth with regard to ether imports into Nigeria stood at -2.1%. At the same time, Ghana (+17.2%), Liberia (+11.6%), Senegal (+10.7%) and Cote d'Ivoire (+10.4%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +17.2% from 2012-2022. From 2012 to 2022, the share of Ghana, Cote d'Ivoire and Senegal increased by +9.9, +4 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported ethers in Western Africa, comprising 62% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 14% share of total imports. It was followed by Ghana, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to -4.6%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+12.0% per year) and Ghana (+11.6% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, with an increase of 11% against the previous year. Over the period under review, the import price, however, showed a mild reduction. The pace of growth appeared the most rapid in 2021 when the import price increased by 30% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 ($X per ton), while Liberia ($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 (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :