Western Africa: Market for Iron and Steel Wire 2025

Exports of Iron and Steel Wire

Exports in Western Africa

In 2021, exports of iron and steel wire in Western Africa dropped sharply to X tons, with a decrease of -61.6% compared with 2020 figures. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 91% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, iron and steel wire exports declined remarkably to $X in 2021. Overall, exports faced a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 112%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Benin was the largest exporting country with an export of around X tons, which finished at 64% of total exports. Senegal (X tons) ranks second in terms of the total exports with a 23% share, followed by Burkina Faso (11%). Mauritania (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to iron and steel wire exports from Benin stood at +11.3%. At the same time, Mauritania (+143.0%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +143.0% from 2012-2021. By contrast, Senegal (-2.5%) and Burkina Faso (-26.2%) illustrated a downward trend over the same period. While the share of Benin (+58 p.p.), Senegal (+16 p.p.) and Mauritania (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Burkina Faso (-28.2 p.p.) displayed negative dynamics.

In value terms, Benin ($X) emerged as the largest iron and steel wire supplier in Western Africa, comprising 62% of total exports. The second position in the ranking was taken by Senegal ($X), with a 23% share of total exports. It was followed by Burkina Faso, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value in Benin amounted to +9.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (-0.6% per year) and Burkina Faso (-30.7% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, growing by 9.7% against the previous year. In general, the export price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2016 an increase of 43% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron and Steel Wire

Imports in Western Africa

For the third year in a row, Western Africa recorded decline in overseas purchases of iron and steel wire, which decreased by -49.3% to X tons in 2021. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2013 with an increase of 127%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, iron and steel wire imports reduced markedly to $X in 2021. Overall, imports faced a deep slump. The most prominent rate of growth was recorded in 2013 when imports increased by 67%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of iron and steel wire imports in 2021 were Senegal (X tons), Nigeria (X tons), Burkina Faso (X tons) and Benin (X tons), together finishing at 83% of total import. Togo (X tons) held the next position in the ranking, followed by Mauritania (X tons). All these countries together held approx. 16% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Benin (with a CAGR of +16.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Benin ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 73% share of total imports.

Benin, with a CAGR of +20.7%, saw the highest growth rate of 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

In 2021, the import price in Western Africa amounted to $X per ton, growing by 27% against the previous year. Over the period under review, the import price, however, showed a slight shrinkage. The pace of growth appeared the most rapid in 2014 when the import price increased by 51%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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