Western Africa: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Western Africa

The West African interchangeable spanner socket market expanded sharply to $X in 2022, picking up by 9.8% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.8% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Interchangeable Spanner Socket Production in Western Africa

In value terms, interchangeable spanner socket production reached $X in 2022 estimated in export price. Over the period under review, production posted a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 55%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Interchangeable Spanner Socket Exports

Exports in Western Africa

In 2022, the amount of interchangeable spanner sockets exported in Western Africa skyrocketed to X tons, rising by 124% on the year before. Over the period under review, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 525% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, interchangeable spanner socket exports soared to $X in 2022. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 421%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal represented the main exporter of interchangeable spanner sockets in Western Africa, with the volume of exports recording X tons, which was near 54% of total exports in 2022. Liberia (X kg) took a 26% share (based on physical terms) of total exports, which put it in second place, followed by Niger (7.1%) and Ghana (6.7%). The following exporters - Gambia (X kg) and Mali (X kg) - each accounted for a 3.4% share of total exports.

Senegal was also the fastest-growing in terms of the interchangeable spanner sockets exports, with a CAGR of +33.9% from 2012 to 2022. At the same time, Niger (+26.7%), Liberia (+16.0%) and Mali (+5.6%) displayed positive paces of growth. Gambia experienced a relatively flat trend pattern. By contrast, Ghana (-9.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Liberia and Niger increased by +46, +10 and +5.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest interchangeable spanner socket supplier in Western Africa, comprising 61% of total exports. The second position in the ranking was held by Liberia ($X), with a 12% share of total exports. It was followed by Ghana, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at +30.1%. In the other countries, the average annual rates were as follows: Liberia (+13.0% per year) and Ghana (-2.1% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, reducing by -12.4% against the previous year. Over the period under review, the export price showed a pronounced slump. The pace of growth was the most pronounced in 2016 an increase of 496% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

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 Gambia ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+7.7%), while the other leaders experienced mixed trends in the export price figures.

Interchangeable Spanner Socket Imports

Imports in Western Africa

In 2022, the amount of interchangeable spanner sockets imported in Western Africa soared to X tons, jumping by 62% on 2021 figures. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 159% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, interchangeable spanner socket imports expanded remarkably to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.9% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 49%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria was the largest importer of interchangeable spanner sockets in Western Africa, with the volume of imports accounting for X tons, which was approx. 50% of total imports in 2022. Ghana (X tons) ranks second in terms of the total imports with an 18% share, followed by Senegal (6.2%), Cote d'Ivoire (5.5%) and Guinea (5.1%). Burkina Faso (X tons) and Mali (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +5.9% from 2012 to 2022. At the same time, Guinea (+26.2%), Senegal (+16.8%), Cote d'Ivoire (+8.2%), Ghana (+7.3%), Burkina Faso (+5.5%) and Mali (+3.4%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +26.2% from 2012-2022. From 2012 to 2022, the share of Guinea and Senegal increased by +4.1 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 55% of total imports. Guinea, Senegal, Burkina Faso and Mali lagged somewhat behind, together accounting for a further 28%.

Guinea, with a CAGR of +21.9%, recorded 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 2022, declining by -29.5% against the previous year. Over the period under review, the import price showed a perceptible reduction. The pace of growth appeared the most rapid in 2015 an increase of 97% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (-1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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