Western Africa: Imitation Jewellery Market 2022

Imitation Jewellery Exports

Exports in Western Africa

In 2020, approx. X tons of imitation jewellery were exported in Western Africa; growing by X% compared with the previous year's figure. In general, exports recorded a modest increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure at X tons in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

In value terms, imitation jewellery exports fell to $X in 2020. Total exports indicated a mild increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2015 indices. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2019, and then shrank in the following year.

Exports by Country

Nigeria was the key exporter of imitation jewellery in Western Africa, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2020. Ghana (X tons) took a X% share (based on tons) of total exports, which put it in second place, followed by Benin (X%) and Senegal (X%). Mali (X kg) and Togo (X kg) took a minor share of total exports.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of imitation jewellery. At the same time, Ghana (+X%) and Benin (+X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +X% from 2007-2020. Senegal experienced a relatively flat trend pattern. By contrast, Mali (-X%) and Togo (-X%) illustrated a downward trend over the same period. While the share of Ghana (+X p.p.) and Benin (+X p.p.) increased significantly in terms of the total exports from 2007-2020, the share of Mali (-X p.p.) and Togo (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest imitation jewellery supplying countries in Western Africa were Benin ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Ghana saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the imitation jewellery export price in Western Africa amounted to $X per ton, falling by -X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% y-o-y. Over the period under review, export prices attained the peak figure at $X per ton in 2019, and then reduced notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Togo ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Togo, while the other leaders experienced more modest paces of growth.

Imitation Jewellery Imports

Imports in Western Africa

In 2020, after three years of growth, there was significant decline in overseas purchases of imitation jewellery, when their volume decreased by -X% to X tons. Total imports indicated a notable expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. The volume of import peaked at X tons in 2010; however, from 2011 to 2020, imports failed to regain the momentum.

In value terms, imitation jewellery imports dropped remarkably to $X in 2020. Over the period under review, imports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2010; however, from 2011 to 2020, imports failed to regain the momentum.

Imports by Country

Ghana (X tons) and Mali (X tons) represented roughly X% of total imports of imitation jewellery in 2020. Nigeria (X tons) ranks next in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%) and Senegal (X%). Guinea (X tons) and Niger (X tons) followed a long way behind the leaders.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mali, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest imitation jewellery importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Mali ($X), with a combined X% share of total imports.

Among the main importing countries, Mali saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The imitation jewellery import price in Western Africa stood at $X per ton in 2020, reducing by -X% against the previous year. In general, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2011 when the import price increased by X% y-o-y. Over the period under review, import prices attained the maximum at $X per ton in 2007; however, from 2008 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Guinea ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Guinea, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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