Western Africa: Hand Tools Market 2025

Hand Tools Market Size in Western Africa

In 2021, the West African hand tools market increased by 11% to $X, rising for the fifth consecutive year after three years of decline. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +104.1% against 2016 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the immediate term.

Hand Tools Production in Western Africa

In value terms, hand tools production soared to $X in 2021 estimated in export price. Over the period under review, production saw a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 85% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Hand Tools Exports

Exports in Western Africa

In 2021, the amount of hand tools exported in Western Africa declined sharply to X tons, with a decrease of -36.7% on 2020 figures. Over the period under review, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 106%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hand tools exports dropped markedly to $X in 2021. In general, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 72%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ghana represented the largest exporter of hand tools in Western Africa, with the volume of exports accounting for X tons, which was approx. 58% of total exports in 2021. Cote d'Ivoire (X tons) held a 24% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (5.5%). Guinea (X tons), Benin (X tons) and Burkina Faso (X tons) held a relatively small share of total exports.

Exports from Ghana increased at an average annual rate of +3.9% from 2012 to 2021. At the same time, Guinea (+34.9%) and Nigeria (+8.0%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +34.9% from 2012-2021. Burkina Faso experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (-10.2%) and Benin (-28.5%) illustrated a downward trend over the same period. While the share of Ghana (+35 p.p.), Nigeria (+3.9 p.p.) and Guinea (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-11.2 p.p.) and Benin (-24 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest hand tools supplier in Western Africa, comprising 48% of total exports. The second position in the ranking was taken by Guinea ($X), with a 14% share of total exports. It was followed by Cote d'Ivoire, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana totaled +10.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Guinea (+33.8% per year) and Cote d'Ivoire (-11.5% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, picking up by 9.5% against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hand tools export price increased by +79.6% against 2015 indices. The pace of growth appeared the most rapid in 2016 an increase of 39%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guinea ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.4%), while the other leaders experienced mixed trends in the export price figures.

Hand Tools Imports

Imports in Western Africa

In 2021, overseas purchases of hand tools decreased by -13.6% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, saw notable growth. The pace of growth appeared the most rapid in 2020 when imports increased by 68% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, hand tools imports skyrocketed to $X in 2021. Total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +76.8% against 2016 indices. The pace of growth was the most pronounced in 2020 when imports increased by 46% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

The purchases of the three major importers of hand tools, namely Ghana, Nigeria and Cote d'Ivoire, represented more than two-thirds of total import. Senegal (X tons) took the next position in the ranking, followed by Guinea (X tons). All these countries together took near 14% share of total imports. Burkina Faso (X tons), Togo (X tons) and Liberia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Togo (with a CAGR of +17.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X) were the countries with the highest levels of imports in 2021, with a combined 56% share of total imports. Guinea, Nigeria, Liberia, Burkina Faso and Togo lagged somewhat behind, together accounting for a further 29%.

Guinea, with a CAGR of +17.0%, saw the highest growth rate of the value of imports, in terms of 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

In 2021, the import price in Western Africa amounted to $X per ton, surging by 36% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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