Western Africa: Interchangeable Tool Market 2025

Interchangeable Tool Market Size in Western Africa

The West African interchangeable tool market reduced slightly to $X in 2021, with a decrease of -3.3% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Interchangeable Tool Production in Western Africa

In value terms, interchangeable tool production shrank to $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +20.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 41% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Interchangeable Tool Exports

Exports in Western Africa

Interchangeable tool exports soared to X tons in 2021, increasing by 46% compared with 2020. Overall, exports, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2016 when exports increased by 54%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, interchangeable tool exports expanded rapidly to $X in 2021. In general, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 65%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Senegal was the main exporter of interchangeable tools for hand tools in Western Africa, with the volume of exports amounting to X tons, which was approx. 52% of total exports in 2021. Cote d'Ivoire (X tons) ranks second in terms of the total exports with an 18% share, followed by Burkina Faso (15%) and Ghana (10%).

From 2012 to 2021, average annual rates of growth with regard to interchangeable tool exports from Senegal stood at +16.3%. At the same time, Burkina Faso (+31.0%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +31.0% from 2012-2021. By contrast, Cote d'Ivoire (-8.2%) and Ghana (-16.9%) illustrated a downward trend over the same period. While the share of Senegal (+42 p.p.) and Burkina Faso (+14 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-10.7 p.p.) and Ghana (-29 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2021, with a combined 76% share of total exports. These countries were followed by Burkina Faso, which accounted for a further 17%.

Burkina Faso, with a CAGR of +26.8%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, waning by -26.9% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 when the export price increased by 98% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.4%), while the other leaders experienced a decline in the export price figures.

Interchangeable Tool Imports

Imports in Western Africa

In 2021, purchases abroad of interchangeable tools for hand tools was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a mild decrease. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, interchangeable tool imports surged to $X in 2021. In general, imports, however, showed a noticeable descent. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Nigeria (X tons), Ghana (X tons), Cote d'Ivoire (X tons), Burkina Faso (X tons), Senegal (X tons) and Mali (X tons) represented the key importer of interchangeable tools for hand tools in Western Africa, achieving 79% of total import. Benin (X tons) ranks next in terms of the total imports with a 5.5% share, followed by Guinea (4.7%).

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +33.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported interchangeable tools for hand tools in Western Africa, comprising 31% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a 13% share of total imports. It was followed by Cote d'Ivoire, with a 13% share.

In Ghana, interchangeable tool imports plunged by an average annual rate of -6.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (+6.2% per year) and Cote d'Ivoire (-1.5% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, which is down by -2.4% against the previous year. Overall, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2016 an increase of 35% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Ghana ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :