Western Africa: Golf Equipment Market 2024

Golf Equipment Market Size in Western Africa

In 2022, the West African golf equipment market increased by 1.1% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, posted measured growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Golf Equipment Production in Western Africa

In value terms, golf equipment production contracted modestly to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.3% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 44%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Golf Equipment Exports

Exports in Western Africa

In 2022, shipments abroad of golf clubs and other golf equipment was finally on the rise to reach X units after two years of decline. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 2,482% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, golf equipment exports reduced dramatically to $X in 2022. Over the period under review, exports showed resilient growth. The growth pace was the most rapid in 2013 when exports increased by 250% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire was the major exporter of golf clubs and other golf equipment in Western Africa, with the volume of exports recording X units, which was near 65% of total exports in 2022. Ghana (X units) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (11%) and Togo (8.4%). Senegal (X units) took a relatively small share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the golf clubs and other golf equipment exports, with a CAGR of +19.8% from 2012 to 2022. At the same time, Togo (+14.1%), Nigeria (+13.2%), Senegal (+5.5%) and Ghana (+4.8%) displayed positive paces of growth. From 2012 to 2022, the share of Cote d'Ivoire increased by +29 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest golf equipment supplier in Western Africa, comprising 68% of total exports. The second position in the ranking was held by Ghana ($X), with a 10% share of total exports. It was followed by Nigeria, with a 10% share.

In Cote d'Ivoire, golf equipment exports increased at an average annual rate of +20.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-8.7% per year) and Nigeria (+12.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, waning by -55.4% against the previous year. Overall, the export price showed a abrupt setback. The pace of growth was the most pronounced in 2014 when the export price increased by 583% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then dropped rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+8.7%), while the other leaders experienced mixed trends in the export price figures.

Golf Equipment Imports

Imports in Western Africa

Golf equipment imports soared to X units in 2022, jumping by 101% on 2021 figures. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 378%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, golf equipment imports soared to $X in 2022. Overall, imports continue to indicate a pronounced increase. The growth pace was the most rapid in 2013 with an increase of 997%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria represented the major importer of golf clubs and other golf equipment in Western Africa, with the volume of imports reaching X units, which was approx. 42% of total imports in 2022. It was distantly followed by Benin (X units), Guinea-Bissau (X units), Niger (X units) and Senegal (X units), together comprising a 41% share of total imports. Ghana (X units) and Gambia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Benin (with a CAGR of +46.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported golf clubs and other golf equipment in Western Africa, comprising 55% of total imports. The second position in the ranking was taken by Benin ($X), with a 13% share of total imports. It was followed by Senegal, with a 6.6% share.

In Nigeria, golf equipment imports increased at an average annual rate of +12.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Benin (+40.3% per year) and Senegal (-0.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, shrinking by -2.2% against the previous year. In general, the import price, however, showed pronounced growth. The pace of growth was the most pronounced in 2013 an increase of 129% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained 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 Ghana ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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